ADB wants ODA disbursement accelerated

HANOI, Jul 6, 2012. The Asian Development Bank (ADB) is asking Vietnam to step up the slow-paced disbursement of its official assistance development (ODA).

The bank has told the Ministry of Planning and Investment (MPI) that Vietnam has been lagging in ODA disbursement.

By the end of March 2012, the ADB Vietnam portfolio had comprised 59 loans totaling US$ 7.08 billion, representing 13.7% of the ADB’s total ongoing portfolio, according to a report by the regional lender.

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ADB: Asian Development Outlook 2012 – Vietnam Outlook

The annual Asian Development Outlook provides a comprehensive analysis of economic performance for the past year and offers forecasts for the next 2 years for the 45 economies in Asia and the Pacific that make up developing Asia.

Despite weak global demand, Asian Development Outlook 2012 expects that developing Asia will largely maintain its growth momentum in the next couple of years, in an environment of easing inflation for most regional economies, although policy makers must be alert to further oil-price spikes arising from threats of oil supply disruptions.

The report sees that the greatest risk to the outlook is the uncertainty surrounding the resolution of sovereign debt problems in the eurozone. Still, in the absence of any sudden shocks, developing Asia can manage the effects on its trade flows and financial markets.

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Why you should ignore the crowd and buy Vietnam

Once viewed as the next ‘Asian Tiger’, sentiment on Vietnam is now pretty glum

“The government’s focus on breakneck growth at the expense of economic stability has led to growing inequality, soaring inflation, a lack of confidence in the currency and fears of a banking crisis.

“Domestic overheating, coupled with the deterioration of the global economy, has forced many investors, foreign and Vietnamese, to revise their view of the country’s prospects. Deep-seated problems, such as corruption, poor education and infrastructure bottlenecks – all often overlooked by investors in the boom years – have moved into sharp focus.

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Vietnam Education Foundation Announces New Chairman of the Board: Christopher J. Fussner

WASHINGTON, Nov. 16, 2011 /PRNewswire-USNewswire/—The Vietnam Education Foundation (VEF) is proud to announce the appointment of Christopher J. Fussner as Chairman of the VEF Board of Directors as well as the appointment by President Barack Obama of two new Presidential appointees to the VEF Board of Directors, Ms. Sandy Hoa Dang and Dr. Isaac F. Silvera.

Mr. Christopher J. Fussner is Owner and Founder of TransTechnology Pte Ltd, a major distributor of Surface Mount Technology and Semiconductor capital equipment with offices in Singapore, Penang, Kuala Lumpur, Bangkok, Chiangmai, Jakarta, Batam, Manila, Cebu, Shenzhen, Shanghai, Hanoi, New Delhi, Bangalore and Chennai.

He received his B.A. in History and Asian Studies from The George Washington University and his Master of International Management at the Thunderbird School of Global Management. He began his international career in Ouagadougou (Upper Volta) Burkino Faso, West Africa, as Program Assistant with Catholic Relief Services. Subsequently, he joined the Church World Service devoting his time as a Refugee Resettlement Officer in Kuala Lumpur, Malaysia, where he had responsibility for the Vietnamese Refugee resettlement process.

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ADB: policy tightening will lower inflation

Sep 15, 2011. The Asian Development Bank (ADB) on September 14, recommended that Vietnam continue to maintain its tightened policy in order to lower inflation.

In its Asian Development Outlook 2011 Update (ADO Update), the ADB said Resolution 11, a comprehensive policy package, has made good initial progress by helping the exchange rate to stabilise, allowing foreign reserves to be replenished, and lowering monthly inflation outcomes during June – August.

GDP growth quickened in 2010, supported by recovery in exports and an accommodative monetary policy. Inflation hit double-digit rates by year-end, and the currency slid. Moving to restore macroeconomic stability, the authorities in February 2011 unveiled comprehensive measures including tightened fiscal and monetary policies. Partly as a consequence, economic growth is forecast to moderate this year, then pick up next year. Inflation is seen subsiding late in 2011 and further in 2012. The immediate challenge is to follow through on the policy tightening; the longer-term one is to reinvigorate structural reforms.

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Vietnam to get new state-of-the-art S&T university, helped by loans from the ADB and France

HA NOI, VIET NAM, May 3, 2011. The Asian Development Bank (ADB) is funding a new model university for Viet Nam that will help one of the region’s most dynamic economies stay on track towards becoming a fully industrialized nation.

The ADB Board of Directors has approved loans of $ 190 million to establish the University of Science and Technology of Ha Noi, a state-of-the-art institution which will support research, technical innovation, and skills development. The Government of France will complement the ADB assistance by extending about Euro 100 million over 10 years to help develop the university, with the Government of Viet Nam providing $ 23 million.

“As the Vietnamese economy evolves, innovation and technical skills are expected to play an increasingly important role in driving growth and development and this new model university will support this by providing industry-relevant science and technology teaching and research,” said Norman LaRocque, ADB’s Senior Education Specialist for Southeast Asia.

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Vietnam able to avoid “middle income trap” – ADB Official

Rajat Nag Managing Director General of the Asian Development Bank (ADB) has described the “middle income trap” as one of challenges for Vietnam as it gains the middle income country status and at the same time said he believes in its ability to avoid the trap.

“I think all middle income countries are susceptible to the middle income trap. Vietnam of course will not be an exception. But we believe that Vietnam wil get out of the middle income trap. It should take urgent measures right now,” he said.

Vietnam has recognised this problem and the government has adopted its socio-economic development plan for the next decade since January this year, he said, adding that there are three challenges in adopting this plan, namely reform of State-owned enterprises, improvement of the quality of human capacity and meeting infrastructure challenges.

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Bright Asian future not pre-ordained, must be earned, says Asian Development Bank

MANILA | Fri Apr 29, 2011 (Reuters). Asia needs to work to ensure the potential of its economic and political rise is realized, including fulfilling its responsibilities as a global player, the Asian Development Bank said ahead of its annual meeting next week in Vietnam.

Home to 3.3 billion people, Asia has led the global economy in recent years, and the rise of China and India has lifted the region’s profile and influence in world markets.

But the region also has nearly 2 billion people living on less than $ 2 a day, including in China and India, who are most at risk from sharp rises in food and fuel prices this year.

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ADB-supported metro rail to ease congestion in Hanoi

Mar 29, 2011. The Asian Development Bank today approved a $ 293 million loan to support a $ 1 billion metro rail project in Hanoi.

The Asian Development Bank (ADB)-supported rail line is scheduled to be completed in 2015. The new rail link will stretch from Hanoi’s main railway station in Hoan Kiem district to Nhon, in Tu Liem district, 12.5 kilometres to the west. Over 150,000 people a day are expected to use it initially, with the number rising to almost half a million a day by 2030.

The line, also funded by the government of France and the European Investment Bank, is one of four priority metro lines planned for the capital’s metropolitan area. Hanoi’s Urban Transport Master Plan aims to get half the city using public transport by 2020.

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