(VOVworld)- The Asian Development Bank (ADB) praised Vietnam’s efforts in economic restructuring while urging the country to boost reforms among state-owned enterprises. A conference called “Global Financial and Economic Challenges 2012” was held Monday in Hanoi by ADB, Vietnam’s Ministry of Finance, and the Korea Asset Management Corporation.

ADB supports Vietnam reform state-owned enterprises

They urged Vietnam to devise appropriate policies to prevent an economic downturn. ADB Vice-President for Knowledge Management and Sustainable Development Bindu N. Lohani said ADB has closely cooperated with Vietnam in reforms of state-owned businesses and the country is encouraged to continue these efforts. The Vietnamese government has pledged to reform another 21 state businesses to increase the efficiency of big corporations.