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Lesson
Policy-based programs can achieve better outcome through carefully sequenced high-impact crosscutting structural policy reforms along with a set of deeper sector-specific structural policy reforms.

Project Number: 43396-014, 43396-013
Project Name: Increasing Competitiveness for Inclusive Growth Program (Subprograms 1 and 2): Program Completion Report
Report Date:
Lesson
Continuous policy dialogues and developments are crucial for advancing and sustaining the implemented reforms. The program accomplished this through periodic policy reviews, timely policy dialogue, providing appropriate technical assistance, being responsive to the changes of macroeconomic circumstances and government priorities, and effective coordination with other development partners.

Project Number: 43396-014, 43396-013
Project Name: Increasing Competitiveness for Inclusive Growth Program (Subprograms 1 and 2): Program Completion Report
Report Date:
Lesson
Sequential development issues in financial sector. Past reform actions mainly took place within a single subsector (e.g., banking and non-banking, including insurance and pensions). The complex interrelationships among subsectors is a new issue that must be resolved. For example, the insurance sector has grown significantly, and life insurance is a new area of activity. But there are few domestic investment opportunities: there is no treasury bond market and a nascent capital market. The insurance industry and pension funds are both service providers and users of the financial market.

Project Number: 42305-033, 42305-023, 42305-013
Project Name: Third Financial Sector Program - Subprograms 1-6
Report Date:
Lesson
Close coordination among development partners. Some of the policy actions under FSPIII have been supported by TA from other development partners, which can help mobilize increased resources for policy reforms. In addition, involvement of several development partners can create momentum in support of proposed policy actions. However, development partners may have differing time frames for completion of specific actions, which may result in delays in implementation of ADB-supported programs.

Project Number: 42305-033, 42305-023, 42305-013
Project Name: Third Financial Sector Program - Subprograms 1-5
Report Date:
Lesson
Financial sector development should be based on a sequence of well-planned steps, with each step supported by solid technical inputs. TA is essential in this regard; given the limited availability of ADB funding, strong development partner coordination is essential. The Third Financial Sector Program (FSPIII) experienced positive outcomes resulting from close consultation with development partners whose timely technical inputs enabled completion of policy actions. Also, some initiatives developed by ADB have now been implemented by other development partners

Project Number: 42305-033, 42305-023, 42305-013
Project Name: Third Financial Sector Program - Subprograms 1-4
Report Date:
Lesson
As the scope of the financial sector expands, there is increased need for consultation, coordination, and consensus building between government ministries and agencies, and with the private sector over issues that include financial stability and crisis management, e-commerce (e-banking), consumer protection, and anti-money laundering (AML) and countering the financing of terrorism (CFT). Coordination will require time and strong leadership to plan and execute policy measures.

Project Number: 42305-033, 42305-023, 42305-013
Project Name: Third Financial Sector Program - Subprograms 1-3
Report Date:
Lesson
Implementation has also revealed an urgent need to enhance the information technology (IT) capabilities of the PCFs and MFIs so that the credit reporting and information exchange can be improved. The MDP helped the SBV standardize the reporting requirements for PCFs and MFIs and set up the microfinance information exchange system within the National Credit Information Center (CIC). However, a majority of these small- sized credit institutions lack the skills and standard IT systems to properly comply with the new reporting standards.

Project Number: 42235-013, 42235-023
Project Name: Microfinance Development Program - Subprograms 1 and 2: Program Completion Report
Report Date:
Lesson
Need to allocate ample time when deciding policy actions for IRRs to be issued in Viet Nam, due the consensus-building approach the government has adopted toward regulatory formulation. It also took longer than expected for the IRRs for the People's credit funds (PCFs) to be issued.

Project Number: 42235-013, 42235-023
Project Name: Microfinance Development Program - Subprograms 1 and 2: Program Completion Report
Report Date:
Lesson
Through its compliance with the agreed Microfinance Development Program (MDP) policy actions, the government made remarkable progress during 2008-2014 in creating a conducive policy and regulatory environment for developing inclusive and sustainable microfinance. Despite this, the issuing of implementing rules and regulations (IRRs) related to the licensing requirements for microfinance institutions (MFIs) is still pending. The government attributes the delay to its desire to await a Prime Minister Decision on unlicensed microfinance operations.

Project Number: 42235-013, 42235-023
Project Name: Microfinance Development Program - Subprograms 1 and 2: Program Completion Report
Report Date:
Lesson
Under LGFGR2, the government adopted legal, policy, and institutional measures, and established supporting infrastructure. Many of the concepts were relatively new and therefore required extensive consultation and coordination to ensure stakeholders' understanding, acceptance, and adoption of the new measures. Substantial technical assistance (TA) support was necessary to ensure that best practices were incorporated and then consolidated throughout implementation to achieve the intended results.

Project Number: 42208-013, 38264-013
Project Name: Second Local Government Finance and Governance Reform Program - Subprograms 1 and 2: Program Completion Report
Report Date:
Lesson
Flexibility in design. Fiscal decentralization is the process of decentralizing revenue raising and expenditure of moneys to a lower level of government while maintaining financial responsibility. The process is complex and involves major changes to the legal and regulatory framework, institutional arrangements, and human capacity. Hence, sufficient time must be allocated to program implementation. Design flexibility is also a key consideration.

Project Number: 42208-013, 38264-013
Project Name: Second Local Government Finance and Governance Reform Program - Subprograms 1 and 2: Program Completion Report
Report Date:
Lesson
The adoption of the National Action Plan for Fiscal Decentralization (NAPFD) by the Ministry of Finance (MOF) laid the foundation for developing the Directorate General (DG) Fiscal Balance's blueprint for institutional transformation. The policy design of the blueprint has also benefited from inputs by ADB and other donors. Through the development of this blueprint, the government now has a set of long-term objectives to guide and shape medium-term policy design and implementation. ADB is currently a member of an informal development partners working group on decentralization.

Project Number: 42208-013, 38264-013
Project Name: Second Local Government Finance and Governance Reform Program - Subprograms 1 and 2: Program Completion Report
Report Date:
Lesson
Output and outcome performance monitoring was generally limited to the baseline, midterm and end of program survey. Key core performance data should be collected, analyzed and reported on a quarterly basis, in alignment with standard government indicators. This provides provinces and the national level with an up-to-date status of program performance and comparative data across provinces. These data should inform the annual planning process and identify where additional support is needed.

Project Number: 41376-022
Project Name: Health Sector Development Program
Report Date:
Lesson
Funding is necessary, but is not sufficient for building capacity in the provinces and districts as they move to decentralized governance. Strengthening regulatory arrangements and institutional capacity is dependent on good management and financial procedures. A number of the provinces have increased management and technical competency and can play a valuable role through mentoring and/or twinning programs to help expand successful initiatives to others provinces.

Project Number: 41376-022
Project Name: Health Sector Development Program
Report Date:
Lesson
The coverage for the health equity fund (HEF) scheme supported by the program increased from three pilot provinces to cover all eight target provinces. This resulted in a higher number of eligible beneficiaries and health service utilization by the poor. Despite this, a large percentage of the eligible beneficiaries were not accessing the free HEF-funded services.

Project Number: 41376-022
Project Name: Health Sector Development Program
Report Date: