Asian Development Bank (ADB) headquarters in Manila, Philippines. (Illustration: Reuters)

According to the ADB, this technical assistance package will provide policy advice, help prepare infrastructure projects, and strengthen institutional capacity to promote sustainable economic growth. The package includes 2.7 million USD in grants from the Government of Canada and 1.9 million USD in grants from the Australian Government, both managed by ADB.

Donald Lambert, ADB's Principal Private Sector Development Specialist, said Vietnam will need to further accelerate economic reform, expand the role of the private sector in promoting economic development. ADB's new technical assistance will help provide policy advice on PPP and private sector development, pilot projects that apply G20 principles on Quality Infrastructure Investment, strengthen institutional capacity on PPP and private sector development.