ADB appoints new country director for Vietnam

By Thanh Tra
Mon, July 24, 2023 | 12:05 pm GMT+7

The Asian Development Bank (ADB) has appointed Shantanu Chakraborty as its new country director for Vietnam, the bank said in a release.

Chakraborty succeeds Andrew Jeffries who ended his term as country director on April 27, 2023.

Taking office on Monday, the Indian national is expected to lead ADB’s operations in the country, represent the bank in policy dialogue, and further foster its relationship with the government and other stakeholders.

He will supervise the implementation of the country's partnership strategy for 2023 - 2026, which focuses on Vietnam’s transition to a green economy, harnessing the private sector, and promoting social equity.

Shantanu Chakraborty, newly-appointed ADB country director for Vietnam. Photo courtesy of the bank.

Shantanu Chakraborty, newly-appointed ADB country director for Vietnam. Photo courtesy of the bank.

According to Chakraborty, for 30 years, ADB has been a trusted partner of the government and the people of Vietnam. “I am pleased to lead ADB’s ongoing efforts to further strengthen the partnership between the bank and Vietnam. ADB is continuing its lending and non-lending support to foster inclusive, green, and private sector-led growth in Vietnam, and building the foundation for the country to achieve the goal of becoming an upper middle-income country by 2030,” he said.

Chakraborty holds a master’s degree in management from the Indian Institute of Management in Ahmedabad, India; a master’s in business administration in finance from the Stern School of Business of New York University; and an engineering degree from Birla Institute of Technology and Science in Pilani, India.

He boasts almost 28 years of professional experience across South, Central, and West Asia, as well as in the U.S., including 18 years with ADB. He was director of the Infrastructure Finance Division 1 and earlier director of the Private Sector Transaction Support Division in the Private Sector Operations Department (PSOD). His earlier roles in ADB included being a senior advisor to the vice president (Private Sector and Cofinancing Operations) and Principal Investment Specialist in the PSOD.

Before joining ADB, he had almost 10 years’ experience in project finance and investment banking in India (with ICICI Bank) and the U.S. (with UBS Warburg and Landesbank Hessen Thuringen).

Vietnam is a founding member of ADB. Since the bank’s establishment in 1966, it has committed 457 public sector loans, grants, and technical assistance totaling $16.5 billion to the Southeast Asian country.

Established in 1966, it now has 68 members, including 49 in the region. The bank is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia-Pacific, while sustaining its efforts to eradicate extreme poverty.

Last week, ADB revised its Vietnam growth forecast down to 5.8% for 2023 and 6.5% for 2024, from 6.5% and 6.8% in April, respectively. The developing economies in Asia forecast to grow the fastest in 2023 are India at 6.4%, the Philippines at 6%, and Vietnam at 5.8%, the bank said.

Comments (0)
  • Read More
Vietnam’s ‘shrimp king' Minh Phu expects to return to profit in 2025

Vietnam’s ‘shrimp king' Minh Phu expects to return to profit in 2025

Minh Phu Seafood Corporation (UPCoM: MPC), Vietnam’s leading shrimp exporter, expects net profit to reach VND997 billion ($38.03 million) this year, reversing the loss in 2024.

Companies - Tue, June 3, 2025 | 8:38 am GMT+7

CMC Corporation breaks ground on $300 mln technology hub in Hanoi

CMC Corporation breaks ground on $300 mln technology hub in Hanoi

Vietnam's leading technology firm CMC Corporation on Monday broke ground on its $300 million Hanoi CMC Creative Space (CCS Hanoi) project.

Industries - Mon, June 2, 2025 | 11:19 pm GMT+7

Thailand’s industrial output up after 9-month decline

Thailand’s industrial output up after 9-month decline

Thailand’s industrial output has turned positive for the first time in nine months, with the automotive sector rebounding after a 21-month slump, said Thai Deputy Finance Minister Paopoom Rojanasakul.

Southeast Asia - Mon, June 2, 2025 | 10:48 pm GMT+7

Singapore, France to expand cooperation in civil nuclear energy, defence technology, AI research

Singapore, France to expand cooperation in civil nuclear energy, defence technology, AI research

Singapore and France have upgraded their Strategic Partnership signed in 2012 to a Comprehensive Strategic Partnership (CSP), marking Singapore's first CSP with a European country.

Southeast Asia - Mon, June 2, 2025 | 10:47 pm GMT+7

Masan MEATLife stock jumps on continued profit momentum

Masan MEATLife stock jumps on continued profit momentum

The ticker of Masan MEATLife (MML), a subsidiary of Vietnamese consumer retail giant Masan Group, jumped by 8.71% to VND31,200 ($1.2) per share on Monday, after it reported profit for the third consecutive quarter in Q1/2025.

Companies - Mon, June 2, 2025 | 10:34 pm GMT+7

Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms

Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms

The Becamex VSIP Binh Dinh service-urban-industrial complex in the central province of Binh Dinh is emerging as a promising destination for Thai enterprises, said its developer Becamex Binh Dinh JSC.

Industrial real estate - Mon, June 2, 2025 | 10:24 pm GMT+7

Termination of feed-in-tariff mechanism a major bottleneck in Vietnam’s electricity transition: expert

Termination of feed-in-tariff mechanism a major bottleneck in Vietnam’s electricity transition: expert

A major bottleneck in Vietnam’s electricity transition has been the termination of the feed-in-tariff (FIT) mechanism in 2021, with no suitable replacement mechanism in place, according to the director of Hanoi-based Institute of Energy Technology.

Economy - Mon, June 2, 2025 | 4:56 pm GMT+7

Vietnam Vaccine JSC launches high-quality healthcare shop chain

Vietnam Vaccine JSC launches high-quality healthcare shop chain

Vietnam Vaccine JSC (VNVC), well known for its vacciation services, on Saturday launched its VNVC Shop, a chain offering safe, high-quality healthcare products from globally recognized brands.

Companies - Mon, June 2, 2025 | 4:05 pm GMT+7

Vietnam heavyweight PV Gas plans $3 bln investment over next 5 years

Vietnam heavyweight PV Gas plans $3 bln investment over next 5 years

PV Gas, a subsidiary of state-owned giant Petrovietnam, plans to make "strong investment" over the next five years in areas such as infrastructure and import-distribution of LNG.

Energy - Mon, June 2, 2025 | 2:01 pm GMT+7

Vietnam sees renewed output expansion, improved business confidence in May: S&P Global

Vietnam sees renewed output expansion, improved business confidence in May: S&P Global

May saw a more stable picture in terms of U.S. tariff policies than April, helping lead to a renewed expansion in output and improved business confidence, says Andrew Harker, economics director at S&P Global Market Intelligence.

Economy - Mon, June 2, 2025 | 9:18 am GMT+7

Vietnam considers developing 2 inter-regional renewable energy service and industry hubs

Vietnam considers developing 2 inter-regional renewable energy service and industry hubs

The Ministry of Industry and Trade (MoIT) has proposed building two inter-regional renewable energy service and industry hubs in the country.

Economy - Mon, June 2, 2025 | 8:00 am GMT+7

Investors advised to take profits from stocks having risen sharply

Investors advised to take profits from stocks having risen sharply

Investors should maintain a balanced stock allocation in their portfolios and consider buying opportunities if the VN-Index retreats to the 1,300-1,320 point range, say market experts.

Finance - Sun, June 1, 2025 | 8:10 pm GMT+7

Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report

Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report

Shares of Phu Nhuan Jewelry JSC (PNJ), a leading jewelry producer in Vietnam, rallied sharply ahead of the central bank’s Friday release of its gold market inspection findings.

Companies - Sun, June 1, 2025 | 1:14 pm GMT+7

Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand

Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand

Emall Vietnam, which owns a network of 100 high-end business shoe stores under the Pierre Cardin and Oscar brands in Vietnam, has taken over the entire Pierre Cardin shoe system in Thailand.

Companies - Sun, June 1, 2025 | 10:29 am GMT+7

Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Ba Ria-Vung Tau authorities on Friday granted in-principle approvals or investment registration certificates for 53 projects, including a green light for a $400 million investment capital hike of the $5.4 billion Long Son Petrochemicals Complex.

Industries - Sun, June 1, 2025 | 8:00 am GMT+7

Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland 

Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland 

Novaland, a major real estate developer in Vietnam, will simultaneously implement plans to issue bonus shares and offer ESOP (employee stock ownership plan) shares, with a total issuance rate of 5%, equivalent to more than 97 million units.

Companies - Sat, May 31, 2025 | 11:09 pm GMT+7