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Economic development

Vietnam and ADB Strengthen Partnership for Economic Development

Strategic Insights

— 1 min read

A meeting between Deputy Governor Nguyen Ngoc Canh of the State Bank of Vietnam (SBV) and Mr. Shantanu Chakraborty, Country Director of the Asian Development Bank (ADB) in Vietnam, has yielded positive outcomes for the country's economic development. The meeting, held at the SBV Headquarters on August 5, 2025, discussed various areas of cooperation, including inter-regional policies, energy, transport, climate change response, and water resources management. The ADB highly appreciated the SBV's proactive monetary policy management and Vietnam's impressive economic achievements, with a GDP growth rate of 7.52% and an inflation rate of 3.27% in the first half of 2025.

Key Takeaways:

  • The ADB has commended the SBV for its effective management of flexible and proactive monetary policy in the context of external challenges.
  • The ADB has also appreciated the role of the private economic sector in Vietnam's economic growth, with a cumulative value of private financing activities reaching about 1 billion USD as of the end of June 2025.
  • The ADB has proposed to coordinate with the State Bank to promote dialogue and investment promotion activities in localities with potential for private economic development.
  • The ADB will continue to support and enhance cooperation with the SBV and relevant parties to expand products and forms of financing for the private sector.
  • The ADB has also proposed to support the SBV in developing a banking supervisory review and evaluation process (SREP) framework according to Basel II standards.
  • The SBV will continue to closely coordinate with ADB to research and implement related contents in the coming time.

Statistics:

  • Vietnam's GDP growth rate in the first half of 2025: 7.52%
  • Vietnam's inflation rate in the first half of 2025: 3.27%
  • ADB's cumulative private financing activities value in Vietnam as of the end of June 2025: about 1 billion USD

Sources:

  • Press release from the State Bank of Vietnam, dated August 5, 2025.

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