The Asian Development Bank (ADB) will continue to support Vietnam ’sdevelopment process through the provision of around 1.3 billion USD inloans each year, ADB President Takehiko Nakao said at a press conferencein Hanoi on September 19.

The ADB President,who is in Hanoi to attend the fifth Asian Development Forum,said the funding will focus on improving traffic systems, electricityindustry, public services, water resources management, and education.

Additionally, the bank will also offer help via technical grant and aids to human resource development, he said.

Nakao spoke highly of the country’s stable political and macroeconomic situations. In order to reinforce the achievements and regainhigh and equitable growth, Vietnam should accelerate its structuralreforms, particularly in the State-owned sector, banking and publicinvestment, he said.

The ADB President said he hopesVietnam ’s economic growth will reach 5.6 percent in 2014 and thenreturn to the 7-8 percent level in the following years.

He also pointed to the significant role of private sector instrengthening the country’s competitiveness and avoiding themedium-income trap, saying that Vietnam should enhance the businessclimate to maximise its benefits from the ASEAN Economic Community andfree trade agreements.

The ADB leader emphasized theneed for the nation to improve its human resources in the context ofthe establishment of the ASEAN Economic Community. He called onVietnamese enterprises to actively invest in human resources training toimprove labour productivity.-VNA