(VOVworld) – ADB praised Vietnam’s efforts to stabilize its macro economy, ADB President Takehiko Nakao told reporters in Hanoi on Friday following his 2-day visit to Vietnam. He reiterated ADB’s commitment to speed up Vietnam’s restructure reforms and competitiveness. During working sessions with Vietnamese leaders, Nakao emphasized that Vietnam has managed to maintain political stability and stabilize its macro economy, which are 2 key factors for Vietnam’s socioeconomic development: "I’d like to commend the government of Vietnam and the State Bank of Vietnam for this remarkable progress in the country’s macro economic stability. About other issues, reform of this country towards a more market-based economy is also proceeding, encouraged by the new laws including the land law, and the investment law. They have been approved and some of them already became effective. I think these laws will set a basis for the reforms in this country."

ADB President Takehiko Nakao speaks at the international press conference in Hanoi on September 19th, 2014. Photo: VNA

Takehiko urged Vietnam to boost reform among state-owned enterprises, the banking sector, and public investment, to consolidate its existing achievements and revive economic growth. He advised Vietnam to devise appropriate measures to gain the most benefits from global economic integration through trade and investment. He added that it’s also important for Vietnam to create a level playing field for all businesses to support a healthier competitive environment.