The Asian Development Bank (ADB) mobilized a $135 million financing package for VinFast Trading and Production Joint Stock Company (VinFast) for manufacturing Viet Nam’s first fully-electric public transport bus fleet and first national electric vehicle (EV) charging network. The assistance will support Viet Nam’s efforts to achieve net-zero greenhouse gas emissions and expand high-tech manufacturing industries.

The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Viet Nam covering the period 2023–2026. The strategy will help promote inclusive, green, and private sector-led development in Viet Nam and build a foundation for the country to achieve its goal of becoming upper middle-income by 2030.

The Government of the Lao People’s Democratic Republic is increasing its electricity exports generated from its hydropower projects to its neighbors in the Greater Mekong Subregion, including Viet Nam. Lao PDR and Viet Nam have signed MoUs targeting to export 8,148 MW from Lao PDR to Viet Nam by 2030. Lao PDR also signed contracts with Viet Nam Electricity (EVN) to implement 25 projects with a combined capacity of 2,180 megawatts.  

Mr. Pairoj Chotikasathien, head of the Thai Labour Ministry’s employment department, shared that the Thai Cabinet has approved improved labor management measures to address the gap in migrant worker employment. These measures include (i) allowing documented workers to stay until February 2025; and (ii) allowing undocumented workers to register and work until the same date. 

A new global pact for nature expected to be passed at the United Nations Biodiversity Conference in 2022 should balance the needs of developing and developed countries in helping avoid ecosystem collapse.

The Government of Lao People's Democratic Republic (Lao PDR) with assistance of the Mekong Tourism Coordinating Office (MTCO) virtually convened the 49th Meeting of the Greater Mekong Subregion (GMS) Tourism Working Group (TWG-49) on 12 May 2022. The meeting was attended by representatives of the National Tourism Organizations (NTOs) of the six GMS countries, MTCO, and the Asian Development Bank (ADB).

ADB has worked out a core pipeline of projects for 2022–2024 that uses more responsive financing modalities and considers Viet Nam’s priorities for medium- and long-term post-pandemic recovery.

This report compares the Regional Comprehensive Economic Partnership (RCEP) with other free trade agreements and suggests how policy makers can promote its successful implementation.