Deputy Governor Doan Thai Son attends 58th annual meeting of ADB

Key message from the ADB: Turning challenges into opportunities, generating sustainable, inclusive and innovative growth

Delivering his opening speech at the 58th Annual Meeting of the ADB, President Masato Kanda called on the member countries to promote the spirit of cooperation to turn challenges into opportunities for robust transformation in Asia and the Pacific region.

The ADB has identified four focus areas for the systemic transformation of: ensuring food security through a US$ 40 billion investment package by 2030, promoting nutrition and protecting biodiversity; narrowing the digital gaps by expanding the digital financial services, modernizing the payment infrastructure and implementing the digital identification; building a sustainable energy system with commitments of up to US$ 10 billion for initiatives such as the ASEAN Power Grid; and enhancing the climate resilience by investing in infrastructure, ecosystem restoration, and support for vulnerable communities.

The ADB reaffirmed its commitment to remain a reliable development partner with its three core values of: humility, contribution, and trust. These values shape the way how the ADB coordinates with the member countries on the path of building a prosperous, inclusive, and sustainable Asia and the Pacific.

President Masato Kanda delivers his opening speech at the meeting

Vietnam affirms its commitments to cooperation and its active role in the region

Speaking at the Board of Governors’ meeting, SBV Deputy Governor Doan Thai Son highly appreciated the theme of the Annual Meeting, which reflected the spirit of regional cooperation and connectivity. He highlighted Vietnam’s achievements in maintaining the macroeconomic stability: the GDP growth in 2024 reached 7.09%; the inflation was controlled at 3.63%; both registered and disbursed FDI resources surged; the industry sector has recovered; and the investment environment has been improved significantly.

The Deputy Governor emphasized Vietnam’s strategic orientations, including: maintaining the macroeconomic stability; enhancing the resilience to external shocks; institutional reforms; promoting science, technology, innovation, and the national digital transformation.

Speaking highly of the ADB’s role as a leading development partner, Deputy Governor Doan Thai Son hoped that the ADB would continue to innovate itself, particularly in the institutional reforms; mobilize private sector’s resources for development; and provide technical assistance in the areas of green growth and digitalization.

SBV Deputy Governor Doan Thai Son attends the Board of Governors’ meeting

Within the framework of the meeting, the participants adopted several important documents providing guidance for the ADB's operations in the coming time, including the 2024 Annual Report, the 2025 Budget Estimates, and the Financial and Audit Reports.

The SBV Delegation attends the meeting

Bilateral meeting between the SBV Deputy Governor and the ADB Vice President

On the side of the Annual Meeting, Deputy Governor Doan Thai Son also had a working meeting with Mr. Scott Morris, the ADB Vice President for East Asia, Southeast Asia and the Pacific. At the meeting, the SBV Deputy Governor congratulated Mr. Scott Morris on having successfully completed his recent mission to Vietnam in April 2025, contributing to strengthening the strategic cooperation between Vietnam and the ADB.

At the meeting, the SBV Deputy Governor suggested that the ADB adjust its financing facility to be aligned with Vietnam’s new orientations for ODA borrowing. According to the Deputy Governor, the ADB should consider to mobilize more non-refundable grants to go along with its loans to "soften" the borrowing costs, while also studying new financing means with more favorable conditions. In addition, the Deputy Governor also proposed that the ADB simplify the structure and regulations in its loan and aid agreements to be in harmony with Vietnam's legal frameworks, helping to shorten the time for the negotiations and improving the implementation performance of the ADB projects.

Vietnam also hoped that the ADB would enhance its mobilization of preferential financial resources and expanding its technical assistance, especially in the priority areas, including green banking, financial inclusion, digital transformation, and climate resilience.

Deputy Governor Doan Thai Son meets the ADB Vice President

Mr. Scott Morris highly praised Vietnam’s impressive economic growth in 2024 and acknowledged the SBV’s flexible and effective management of the monetary policy in the context of international volatilities. He affirmed that the ADB would continue to accompany and support Vietnam in both cooperation channels: sovereign lending for the areas such as infrastructure development, green transformation and digitalization, as well as non-sovereign financing to support the private sector development.

HY