IN THE FIELD


The OPEC Fund’s Director-General meets with Viet Nam’s Prime Minister Nguyen Xuan Phuc, who said: “I very much appreciate what the OPEC Fund has done in Viet Nam. We should continue this fruitful cooperation.”


Viet Nam V


iet Nam, once one of the poorest countries in the world, has experienced a dramatic transformation over the last three decades. Following successful reforms begun in the 1980s, Viet Nam – now well known as a popular tourist destination for its beautiful beaches and bustling cities – has become a middle-income country, experiencing average annual GDP growth of six percent in the last decade. The OPEC Fund’s cooperation with Viet Nam dates back to 1978 and the organization has since approved 21 public sector loans to the Southeast Asian country, totaling US$283 million. The OPEC Fund’s most recent loan for US$45 million – signed by Director-General Dr Abdulhamid


turnaround delegation draws praise from Viet Nam’s Prime Minister


Alkhalifa and Viet Nam’s Minister of Finance Dinh Tien Dung – will support the Da Nang City Transport Project. The loan was signed on the OPEC Fund’s


recent high-level mission to Viet Nam (documented over the following pages) and will help complete construction of the city’s crucial ring road, which will improve the connectivity of southeast and western rural regions to the city center. The project will boost access to employment opportunities and social amenities, ultimately supporting socioeconomic development and benefiting over one million people directly. OPEC Fund-financed development projects in


Viet Nam have primarily supported the country’s agriculture, education, energy, health and transport sectors.


25


On a recent high-level mission to the Southeast Asian country, the OPEC Fund’s


PHOTOS (unless otherwise credited): OPEC FUND


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