Photo credit: Bank of Lao PDR
On 9 January, Laos and Viet Nam officially launched a cross-currency transaction service, connecting their cross-border retail payment systems via QR codes.
The Ministry of Agriculture and Rural Development in Viet Nam has initiated a Digital Transformation Project for the Agriculture sector for 2021–2025, with a view to 2030. This project is built on three foundational pillars: digital government, digital agricultural economy, and digital countryside, all aimed at fostering the emergence of "digital farmers."
ADB's #SheExport Accelerator program has made a significant impact on Green Joy, a female-owned business based in Viet Nam specializing in crafting eco-friendly products made from grey sedge grass, which grows naturally in alkaline soils in the Mekong Delta and other provinces in Viet Nam. The grass plant, which is 1-2 meters in height and has a round and hollow stem, grows abundantly during the flood season. In old times, farmers used the grass material to make handicrafts. In recent years, grey sedge grass has served as raw material to make straws.
In his remarks at the 20th China-ASEAN Expo and China-ASEAN Business and Investment Summit, Viet Nam Prime Minister Phạm Minh Chính remarked that the country is eyeing to become a key transit hub and a crucial supply chain link for commerce between ASEAN nations and the People’s Republic of China (PRC).
This project delivers a high-impact and sustainable transport solution for Viet Nam while helping it meets climate goals and continue to support climate finance in the region. Photo:Vinfast
The Asian Development Bank (ADB) mobilized a $135 million financing package for VinFast Trading and Production Joint Stock Company (VinFast) for manufacturing Viet Nam’s first fully-electric public transport bus fleet and first national electric vehicle (EV) charging network. The assistance will support Viet Nam’s efforts to achieve net-zero greenhouse gas emissions and expand high-tech manufacturing industries.
ADB’s new partnership strategy for Viet Nam is anchored on the recognition that the country needs tailor-made solutions to best meet its development challenges. Photo by ADB.
The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Viet Nam covering the period 2023–2026. The strategy will help promote inclusive, green, and private sector-led development in Viet Nam and build a foundation for the country to achieve its goal of becoming upper middle-income by 2030.
ADB has worked out a core pipeline of projects for 2022–2024 that uses more responsive financing modalities and considers Viet Nam’s priorities for medium- and long-term post-pandemic recovery.
Thailand’s Ministry of Commerce’s Trade Policy and Strategy Office (TPSO) organized the CLMVT+ Forum 2021 on 24-26 August. The forum highlighted the TPSO study emphasizing the importance of achieving an even economic recovery in the GMS.
Trade promotion agencies of Cambodia, India, Thailand, and Viet Nam held an event promoting cross-border trade connectivity between India and countries in the Greater Mekong Subregion (GMS) on 19 August. Representatives from each country gave briefings on their business environment and exchanged experiences in facilitating trade and investment cooperation. Noting challenges caused by COVID-19, they urged governments to take measures to help their small and medium-sized enterprises (SMEs) move beyond national borders and expand markets.
Viet Nam President Nguyen Xuan Phuc and Lao PDR President Thongloun Sisoulith pledged to continue to give the highest priority to their bilateral cooperation, and noted the need to closely coordinate in Mekong subregional cooperation mechanisms. The Viet Nam President was in Lao PDR on 9-10 August for his first official overseas visit. On 9 August, he held talks with his counterpart.
Greater Mekong Subregion Secretariat
Regional Cooperation and Operations Coordination Division,
Southeast Asia Department, Asian Development Bank
Address: 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines
Telephone: +63 2 8632 4444 Fax: +63 2 8636 2226