On May 7, 2026, Vietnam and the Asian Development Bank (ADB) reaffirmed their enduring partnership in a bilateral meeting in Cebu, Philippines. Vietnamese Prime Minister Le Minh Hung met with ADB President Masato Kanda amidst regional meetings, where they discussed initiatives on economic growth, infrastructure investments, climate action, and future financial backing for Vietnam’s modernization projects.

Prime Minister Le Minh Hung expressed gratitude for the significant contributions of ADB to Vietnam’s progress over the years. He noted that the ADB has been instrumental in supporting critical infrastructure projects, driving economic reforms, and implementing poverty alleviation strategies since their cooperation began. He stressed that concessional loans and development support remain vital as Vietnam advances into a new economic phase.

The Prime Minister welcomed ADB's proactive approach in preparing the Country Partnership Strategy for 2027-2031, viewing it as a testament to the bank’s commitment to Vietnam’s long-term national development objectives. He underscored the necessity of enhancing the efficiency of collaborations and ensuring that upcoming projects are executed more effectively.

During their discussion, Prime Minister Le Minh Hung urged the ADB to collaborate closely with the Vietnamese authorities to address challenges impacting project execution and funding processes. He suggested that the bank introduce more adaptable and preferential financial instruments that can effectively cater to Vietnam’s evolving economic landscape. The emphasis was also placed on needing robust technical assistance and policy guidance in key strategic areas.

Vietnam specifically called for additional help in formulating new economic growth models, advancing green transformation programs, and establishing climate responses and resilient supply chains. The Prime Minister highlighted the significance of fostering private sector innovation, emphasizing that Vietnam is committed to a sustainable, technology-driven economy. Greater international financial collaboration is essential for achieving balanced development in the years ahead.

Regional cooperation was another pivotal point of discussion. Prime Minister Le Minh Hung requested continued support from ADB for ASEAN cooperation initiatives and the Greater Mekong Subregion program, particularly in energy and transport infrastructure, as he believes this will enhance economic integration and unlock new trade and investment potential throughout Southeast Asia.

ADB President Masato Kanda congratulated Prime Minister Le Minh Hung on his recent appointment and praised Vietnam's ongoing support for the bank’s regional initiatives. He reaffirmed ADB’s dedication to being a reliable partner in Vietnam’s next growth and modernization phase.

Kanda noted that the forthcoming Country Partnership Strategy for 2027-2031 will closely reflect Vietnam’s socio-economic development objectives. He also revealed that ADB is fine-tuning its operational processes, funding strategies, and financial instruments to be more responsive to the evolving requirements of member countries, including Vietnam.

The meeting concluded with both parties expressing optimism about the future of Vietnam-ADB cooperation, emphasizing that the partnership will remain crucial in supporting Vietnam’s economic transformation, infrastructure growth, green initiatives, and regional integration aims. The discussions in Cebu highlighted the significance of collaboration between Vietnam and international financial organizations in promoting sustainable development across the region.