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Lesson
The project offers a good implementation management model for similar ADB-financed projects to learn from. This project was completed ahead of schedule with no cost overrun, an exception among ADB-financed road projects in other member countries. The government has strong capacity and experience in managing such highway projects. Compiling experiences and lessons learned from this project and disseminating them to other member countries would enhance the overall efficiency of ADB-financed projects.

Project Number: 41682-039
Project Name: Greater Mekong Subregion Highway Expansion Phase 2 Project
Report Date:
Lesson
The government’s internal approval processes need to be carefully considered when designing and implementing a policy reform program. In Viet Nam, the consensus-building approach to policymaking requires significant time and coordination, particularly for policies that would entail changes to the legal framework. The process for amending laws is a significant constraint, as the lawmaking cycle usually takes 5 years. Inadequate consideration of these features of policymaking and lawmaking in Viet Nam could lead to unrealistic program schedules.

Project Number: 49331-001
Project Name: Financial Sector Development and Inclusion Program
Report Date:
Lesson
Combining finance sector development and financial inclusion under an umbrella framework enables a finance sector reform program to address both supply and demand to further develop the sector. The program as originally designed was to include two subprograms. Technical assistance, provided to help the government continue the reform measures adopted in subprogram 1, was key in supporting many of the reforms programmed under subprogram 2, even as the government elected not to proceed with a second loan. Nevertheless, government elected not to proceed with a second loan.

Project Number: 49331-001
Project Name: Financial Sector Development and Inclusion Program
Report Date:
Lesson
The dispersed location of project sites could make implementation management and supervision difficult. The sites of this project were spread in the north, east, and southwest of Chongqing, mostly in mountainous terrain, making management and supervision difficult for both the project management office and ADB.

Project Number: 45509-002
Project Name: Chongqing Urban-Rural Infrastructure Development Demonstration II Project
Report Date:
Lesson
The inclusion of expected losses from health-related national emergencies must be considered in the program design of contingency disaster financing given the experience in COVID-19. Because health is now a part overall hazard, this will somewhat provide a quick guide in fund disbursements in case of such occurrences.

Project Number: 52018-001
Project Name: Disaster Resilience Program
Report Date:
Lesson
The risks associated with single-tranche loans can be mitigated through proper management of the loan proceeds and control of the project cost. The ADB loan was featured to have a single tranche disbursement arrangement to address currency mismatch and hedge financial risks arising from foreign borrowing. In the early stage of project implementation, the full amount of the ADB loan ($90.8 million) was disbursed as an advance and exchanged to local currency.

Project Number: 41682-039
Project Name: Greater Mekong Subregion Highway Expansion Phase 2 Project
Report Date:
Lesson
Flexibility in project design is required to respond to changes in subproject scale and adapt capacity support to the changing needs. This project was implemented across eight provinces, with significant differences in the size and scope of provincial waterworks (PWW) subprojects and local capacities. A flexible design was crucial to its successful implementation.

Project Number: 41403-013
Project Name: Urban Water Supply Project
Report Date:
Lesson
Inadequate risk assessments can prevent projects from achieving results. The design and monitoring framework was designed with more assumptions made than risks identified. Overall project implementation was impacted by changes in government, although higher education institutions (HEIs) remained a priority for the government. Identification of risks related to unforeseen changes in government would have informed ADB and the project implementation unit of factors that could prevent the achievement of project results.

Project Number: 43007-023
Project Name: Higher Education Reform Project
Report Date:
Lesson
Well planned and logically sequenced policy actions are crucial to maximizing impact of reform programs and ensuring the sustainability of reforms.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
A flexible approach to respond to evolving priorities is important in maintaining the relevance of a policy-based loan (PBL) program. At the beginning of this program, further development in the oil and gas sector was a priority. However, during the 8-year program period, the government’s priority shifted to energy transition. Some of the policy actions in subprogram 3 were revised accordingly, in consultation with cofinancing partners, to reflect this development.

Project Number: 49043-001, 49043-002, 49043-003
Project Name: Sustainable and Inclusive Energy Program 
Report Date:
Lesson
It might be useful to develop a climate finance strategy for the state-owned enterprises(SOE) sector, building on the experience and lessons from this program's. Assessment of the fiscal risks associated with climate change was incorporated into subprogram 2. This highlights the significant role SOEs can play in addressing climate change impacts and supporting the countries climate obligations. Given this, it might be useful to establish a climate finance strategy for the SOE sector, building on the experience and lessons from this program.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
It is imperative for SOEs to develop good corporate governance and maintain an arm's length relationship with government, regardless of whether it is a commercial or noncommercial SOE. Some of the policy actions under this program were designed to improve the government's performance of its SOE ownership function. However, in addition to these policy actions, it is imperative for SOEs to proactively promote good corporate governance and develop functional autonomy from the government.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
Additional measures are necessary for the government securities market to stimulate demand from both retail and institutional investors. The program had several supply-based reforms, particularly around the primary dealer system and government bonds; however, turnover velocity was below the target, particularly for the secondary market relating to government securities. This would suggest that additional demand-based measures are as of December 2023 required for the government securities market to stimulate demand from both retail and institutional investors.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
Sustained engagement is critical for the successful completion of reform programs. This program benefited from the government’s strong ownership of sector reform. However, it also made the reform program susceptible to changes in policy directions and strategies, especially with changes in political leadership. As an example, renewable energy tariff mechanisms changed multiple times during the program period.

Project Number: 49043-001, 49043-002, 49043-003
Project Name: Sustainable and Inclusive Energy Program 
Report Date:
Lesson
Fiscal reform, pensions, and capital markets reforms are inextricably linked, because of the role each plays in economic development. Subprogram 2 supported the development and approval of the Capital Market Development Strategy, 2022–2028 by government decree, which includes a commitment to develop a green bond framework. This provides a strong basis from which to develop a broader integrated program to support not just fiscal resilience but also further capital market reforms in conjunction with the Finance Sector Office.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date: