ADB boosts inclusive growth in VN’s secondary towns

The Asian Development Bank (ADB) and the Provincial People’s Committees (PPC) of Hoa Binh, Nghe An, Quang Binh, Quang Tri and Thua Thien-Hue sign the specific project agreements for the Second Greater Mekong Subregion (GMS) Tourism Infrastructure for Inclusive Growth Project, August 15, 2019.

The project aims to transform secondary towns along the GMS eastern corridor into economically inclusive, competitive tourism destinations by improving transport infrastructure, urban services, and capacity to sustainably manage tourism growth.

“In the past years, the Government has effectively used ADB’s support to improve infrastructure, strengthen environmental management in tourism destinations, promote tourism-related enterprise development, and deepen regional tourism cooperation with GMS and ASEAN neighbors,” said Mr. Eric Sidgwick, ADB Country Director for Viet Nam. “As a result, tourism is thriving in project areas, benefitting thousands of residents and locally owned businesses.”

The ADB has a long and successful track record supporting inclusive and sustainable tourism development in Viet Nam. This is the 4^th consecutive tourism project since 2003; and 12 provinces have now received ADB tourism-sector assistance with cumulative ADB financing totaling more than US$110 million.

The project will construct climate-resilient transport and urban infrastructure needed to boost tourist arrivals and tourist services investment in the provinces of Hoa Binh, Nghe An, Quang Binh, Quang Tri, and Thua Thien-Hue. It will also develop urban green spaces and public beaches in these provinces, and the project is expected to benefit about 168,000 residents and more than eight million visitors annually.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to US$21.6 billion. Established in 1966, it is owned by 68 members—49 from the region.

By Thuy Dung