Honorable Mr. Kuroda, President of the Asian Development Bank-Distinguished Governors and Heads of Delegation
PM Nguyen Tan Dung on Thursday delivered his speech at the opening session of the 44th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB). The following is the full text of the speech.
Ladies and Gentlemen,
On behalf of the Government and people of Vietnam, let me first extend my warmest welcome to you all to the 44th annual meeting of the Board of Governors of the Asian Development Bank (ADB) and other related meetings. This is the very major important ADB international event held in Ha Noi of Vietnam.
I would also like to take this opportunity to express my deep sympathy and condolences to the Government and people of Japan in general and President Kuroda and other Japanese ADB staff in particular for the huge losses caused by the recent earthquakes and tsunami. With the profound, friendly and sincere sentiments, the Government and people of Vietnam have been doing whatever they could to lend a helping hand to the Japanese people, praying for their early recovery, normalization and development.
It is a real honor for Vietnam to host the ADB annual meeting for the first time. I believe that this meeting would provide an excellent opportunity to have a full and comprehensive assessment of the ADB’s efforts lately to make the right decisions on its directions of operation through the introduction of new and effective initiatives for development and cooperation while at the same time enhancing the ADB’s and its members’ relations with the development partners and other stakeholders. This meeting also offers a good chance for regulators, policy-makers, CEOs and scholars to discuss important and urgent matters of practical significance of member states, the Asia-Pacific and the world at large such as investment and business, reform of the international monetary system, post-crisis capital and financial markets, cooperation for a stable financial system, social safety, food security, environment protection, responses to climate change, cultivation of new growth engines, acceleration of regional connectivity and prosperous and sustainable development.
Ladies and Gentlemen,
On the course of recovery, the world economy still suffers from the negative impacts of the crisis embedding potential risks of stagnation and economic recession. At the same time, we are also facing enormous challenges and difficulties at both regional and global scales. These include the unwanted consequences of the stimulus policies in a number of countries, high inflation in other s, public debt and fiscal deficit in Europe, unemployment risk and unsustainable recovery in major economies, the devastation of natural disasters, political unrests in some Middle Eastern and Northern African countries, etc., which could well produce unexpected impacts.
The G20 countries and international financial institutions have recently made several efforts to work together to help our member countries overcome the impacts of the crisis. Many actions and commitments are put forth like the Framework for Strong, Sustainable and Balanced Growth, the Global Financial Safety Net, or Reforming the International Financial Institutions, bringing about positive effects on each economy’s recovery. We need to continue to develop new practical and appropriate initiatives and increase international cooperation to jointly overcome these challenges and difficulties with due attention given to the guarantee of the voice and interests of poor and developing countries.
Regional integration and cooperation are playing an increasingly important and complementary role in the global cooperation frameworks. Asia and Asia-Pacific as a whole are developing with full dynamism, integrating themselves more profoundly in the global economy, hence their stronger voice and role. ASEAN cooperation and the ASEAN + arrangements turn more positive and active in assisting development, ensuring sustainable poverty reduction efforts, promoting integration, trade and investment cooperation in the region, thus contributing practically to global economic recovery and growth.
Vietnam welcomes the selection of practical themes of important significance by the ADB Board of Governors for its 44th annual meeting and other related meetings. We look forward to seeing the meeting arrives at important and concrete decisions to improve the ADB’s efficiency, thus driving the region towards more prosperous development and contributing to the settlement of global issues.
Vietnam also appreciated the ADB’s activities and efforts for reform. We are strongly for the ADB’s initiatives for the goal of a poverty-free Asia and will actively take part in these activities. We hope that the ADB, as a financial institution that plays an important role in regional development, would focus more on the common duties and emerging challenges in the region and the world such as balanced and sustained growth, clean energy development, response to climate change and rising sea-level, sustainable agricultural development and food security, etc. The ADB’s supports for infrastructure development, poverty reduction in parallel with environment protection and mitigation of climate change impacts, private sector development, and shift of economic model, economic restructuring and economic gap narrowing for regional countries should be given priority in the overall picture.
Ladies and Gentlemen,
Found in the heart of Southeast Asia, Vietnam enjoys favorable position and great development potential. The achievements of the past 25 years of doi moi (renewal) from 1986 to 2011 have brought our country out the least-developing status to enter the group of middle-income countries. Our economy is growing by an average of 7.26% for the past 10 years and poverty shrinks from 58% in 1993 to under 10% in 2010. Our economic structure is shifting positively with the further improvement of the market economy institutions. The cultural and social sectors are also recording important achievements in various aspects. Vietnam has fulfilled many Millennium Development Goals ahead of schedule.
The ADB has been moving along with the strong growth of Asia in general and Vietnam in particular, especially in the most difficult times when we faced the serous impacts of the global crisis which threatened a complete wipe of all the achievements in economic development and poverty reduction earned in decades.
On its course of development, Vietnam has received the timely and enormous supports and assistance from the international donors, including the ADB, in terms of finance, technical assistance, policy advice and support. By March 2011, the ADB has pledged to provide Vietnam with US $10 billion for more than 100 programs and projects in such focal areas like infrastructure development, agriculture and rural areas, energy and education, etc. These are indeed valuable resources that really strengthen Vietnam’s achievements in socio-economic development, poverty reduction, improvement of the living standard and social safety. During the visits of ADB leaders to Vietnam, the most recent of which is President Kuroda’s February trip, they and their colleagues have witnessed with their own eyes the apparent changes in Vietnam as well as our achievements in socio-economic development and poverty reduction, especially in the remote areas where the people’s life has been significantly improved thanks to the upgraded infrastructure, better social safety net, better access to hygiene, sanitary and clean water.
The Government and people of Vietnam would like to express our sincere gratitude for and deep appreciation of the ADB’s practical assistance. We are committed to utilize these precious lines of support in the most correct and effective way. We are confident that on our path towards sustainable development and poverty reduction, we always enjoy a true companion, i.e. the ADB.
Now embarking on the new Strategy for Socio-economic Development for 2011-2020, by identifying the core duties that could bring about breakthroughs, i.e. the further improvement of the institutions of the market economy and the quality of the human resources, the development of the economic infrastructure to build an increasingly modern society, Vietnam is focusing on macro-economic stabilization, renewing its economic growth model and restructuring its economy, mobilizing and effectively utilizing all resources, improving the quality of growth as well as improving the economy’s efficiency and competitiveness to ensure rapid and sustainable development. Vietnam remains consistent with its foreign policy of independence, sovereignty, peace, cooperation, development, multilateralization and diversification of foreign relations, positively and actively integrating ourselves into the world. Vietnam is a reliable friend and partner and a responsible member of the international community.
The next five years would see Vietnam’s continued recovery as we are striving for an average annual growth of 7.0%, an annual reduction of around 2% of poverty and a double rural income growth as against 2010. Everything we do is for the attainment of a just, democratic and civilized society enjoying a harmony between economic development and socio-cultural development. The Government of Vietnam appreciated the international community’s pledges made at the recent CG meeting. Despite of their own enormous difficulties at home, many donors keep providing Vietnam with big preferential loans. Although Vietnam has been able to record important achievements in development, it remains very much a poor country with a long and thorny path towards development ahead. As such, we will mobilize all resources and inner strength while at the same time calling for more effective supports and assistance from the international community, donors and in particular, the ADB and its members.
Ladies and Gentlemen,
We are living in a world full of uncertainties. The complex and unpredictable developments of the global economy put before us many challenges. Yet they also suggest new opportunities for us to look back into ourselves to improve and to set the goals to strive. With firm confidence, utmost efforts and effective coordination, we will create a magnificent strengthen to jointly overcome all hurdles to move forward to a prosperous and wealthy future of all nations in the region, actively adding to the world’s stability and development.
I have no doubt that the 44th annual meeting of the ABD Board of Governors and other related meetings will be a great success. I wish you all the best of health during your stay in Ha Noi, where you will certainly have a great time to explore this city of peace and the reflection of thousands of years of civilization of this country. It is the convergence of all the cultural, historical and traditional values of the Vietnamese nation.
Thank you very much.