ADB positive about Vietnam’s economy

At the event, Sedgwick praised Vietnam’s economic development attributing it to good management over the past 3 years. Vietnam’s economy has rebounded with a stable macro economy, low inflation, good budget management, an acceptable deficit, and higher foreign currency reserves.

He said Vietnam’s public debts have increased, but were under control and that Vietnam has done well in restructuring bad debts. He said the ADB was working with Vietnamese agencies to develop a 5-year strategy to provide Vietnam with long term resources at low interest for infrastructure projects.

PM Dung said Vietnam considers the ADB its partner in the development process. He reiterated Vietnam’s consistent policy of controlling and stabilising the macro-economy to create a firm basis for future development.