“The need for social protection strategies to address the post-crisis labour market becomes more urgent with the prospect that growth rates may not reach the levels of just a few years ago,” she said at the conclusion of a three-day regional conference in Hanoi on September 30.

According to the ADB official, before the crisis – in the context of high growth rates – only about half of young labour entrants in the region could find decent jobs, while the rest had to sustain themselves and their families through the informal sector.

The conference entitled “The impact of the Global Economic slowdown on Poverty and Sustainable Development in Asia and the Pacific” saw over 350 representatives from the ADB, regional governments and international organisations. It was organised by the ADB together with the governments of Vietnam, China and the ASEAN Secretariat.

The conference is a good opportunity to exchange experiences between countries, said Nicholas Rosellini, UNDP Deputy Director for Asia and the Pacific region.

The ADB Vice President expressed sympathy over the loss of life and property in the central and Central Highland of Vietnam, caused by tropical storm Ketsana several days before. The ADB is ready to assist Vietnam to overcome the aftermaths of the natural disaster, she affirmed.