Home » Business » Vietnam looks for effective development cooperation

Vietnam looks for effective development cooperationDevelopment partners will continue to help Vietnam achieve its development targets in the coming years, affirmed by Tomoyuki Kimuara, Country Director of Asian Development Bank (ADB) at the 7th Aid Effectiveness Forum (AEF) in Hanoi on November 26.

The forum is an annual event organised by the Ministry of Planning and Investment (MoPI) on the threshold of the Vietnam Development Partnership Forum (VDPF).

Vice Minister of Planning and Investment Nguyen The Phuong spoke highly of relevant agencies’ efforts in building and implementing the Busan Partnership Document (BPD) and Vietnam Partnership Document (VPD) to make development cooperation and aid more effective.

AEF-7 participants discussed Vietnam’s prospects for development cooperation on the basis of 20-year cooperation between the country and donors in the new context of national development.

Donors and foreign non-governmental organisations (NGOs) said although Vietnam is included in the list of middle income nations it still needs aid to ensure its sustainable development and avoid the “middle income” trap. When ODA is on the decline, Vietnam should devise proper policies and measures to effectively use less preferential loans and fully exploit financial resources for development.

Vietnam should strengthen technical cooperation, and share development experience and technology transfer through north-south cooperation (between developing and developed countries), south-south (among developed countries) and triple sides (between developing countries under financial support from donors), they added.

They discussed the medium-term plan (2014-2016), Vietnam’s important role of contribution to the regional and international AEFs, especially the Global Partnership Summit in Mexico in April 2014 and UN post-2015 Development Agenda.

They agreed on the AEF’s message to the VDPF which is due to open in Hanoi on December 5.


No comments yet... Be the first to leave a reply!