Australia World Bank Partnership in Vietnam

The Government of Viet Nam’s (GoV) Socio-Economic Development Plan for 2026 sets out an ambitious agenda to accelerate economic growth while maintaining macroeconomic stability and safeguarding key economic balances. The Plan targets GDP growth of 10 percent or higher, alongside strong gains in labor productivity, human capital, and industrial upgrading. It emphasizes the transition toward a new growth model driven primarily by science, technology, innovation, and digital transformation, while strengthening the resilience and sustainability of the economy in the face of climate, demographic, and global shocks. These objectives are framed within Viet Nam’s longer-term aspiration to achieve high-income country status by 2045 and net-zero emissions by 2050.

To achieve these objectives, the GoV has identified a comprehensive set of priority tasks and solutions focused on institutional reform, economic restructuring, and strategic investment. These include completing and modernizing the legal and regulatory framework; improving the effectiveness and accountability of the state apparatus, particularly at subnational levels, supporting which is a focus of the proposed ABP3 program; and accelerating digital transformation across government, the economy, and society. The Plan prioritizes investment in modern, interconnected infrastructure – especially transport, energy, digital, and urban systems – alongside the development of high-quality human capital for emerging and high-productivity sectors. It also places strong emphasis on green growth, energy transition, climate adaptation, environmental protection, and efficient resource use, while promoting social progress, inclusion, and expanded social protection. Collectively, these directions aim to position Viet Nam on a trajectory of inclusive, green, and resilient development during the 2026–2030 period and beyond.

OpenCities supported the World Bank and Australia’s Department of Foreign Affairs and Trade (DFAT) to develop the third phase of the Australia–World Bank Partnership in Viet Nam (ABP3), a major new Australian-funded trust fund of approximately AUD50 million. Working closely with the World Bank team in Hanoi and DFAT in Hanoi, OpenCities helped shape a clear, strategically grounded and operationally credible design for the next phase of the partnership. This included engaging with World Bank country teams to understand how ABP3 could complement the Bank’s regular advisory services and analytics, while providing additional flexibility, depth and implementation support in areas of shared priority.



Our work helped situate the program in Viet Nam’s rapidly evolving country context, including the Government’s ambitions for high-income status by 2045, net-zero emissions by 2050, decentralisation reforms, climate vulnerability, green growth, gender equality and disability inclusion. We supported the articulation of Government of Viet Nam priorities alongside World Bank and DFAT strategic priorities, helping identify where the partnership could add the greatest value.

OpenCities developed a theory of change that resonated with all parties and clarified how ABP3 would contribute to better policy and regulatory decision-making, stronger implementation capacity, and a stronger pipeline of development projects. We also supported the preparation of the work plan, results framework, governance arrangements and working modalities for the trust fund.

The resulting concept note provides a framework for a flexible, demand driven partnership designed to support Viet Nam develop practical reforms, stronger institutions and investment-ready programs across climate resilience, low carbon infrastructure, economic governance, provincial development, gender equality and disability inclusion.