Sep 12, 2018 / 10:47

Vietnam is an active and responsible member in AIIB: DPM

The Hanoitimes - The statement was confirmed by Deputy Prime Minister Trinh Dinh Dung and Vice President of Asian Infrastructure Investment Bank (AIIB) Joachim von Amsberg at their meeting in Hanoi on September 11.

Congratulating AIIB on its achievement after three years of operation, Deputy PM Dung emphasized that as one of AIIB’s founding members, Vietnam is committed to be a reliable and responsible member in AIIB’s effective operation.
Deputy Prime Minister Trinh Dinh Dung and AIIB’s Vice President Joachim von Amsberg. Photo: Doan Bac
Deputy Prime Minister Trinh Dinh Dung and AIIB’s Vice President Joachim von Amsberg. Photo: Doan Bac
The Deputy PM expressed his pleasure to welcome AIIB’s Vice President to visit Vietnam and attend the World Economic Forum on ASEAN 2018 (WEF ASEAN 2018).

Dung appreciated the fact that AIIB's leaders pledged to support Vietnam in accessing AIIB's capital to invest in developing infrastructure in Vietnam’s socio-economic development.

According to the Deputy PM, Vietnam has large demand for investment in infrastructure development, especially for expressways, seaports, renewable energy, urban development. He added that private sector funding will play an important role in the country's development investment and will gradually replace state-funded public investment in the time ahead.

The Vietnamese government has the orientation and creates favorable conditions for enterprises to raise capital, especially from international financial institutions such as AIIB, in the form of self-borrowing and self-repayment without government’s guarantee to meet the current investment needs. The Vietnamese government will be committed to stabilizing policies and protecting investors, Dung said.

AIIB can provide financial products for infrastructure without government’s guarantee, which is in line with Vietnam's policy and its capital mobilization orientation, the Deputy PM stressed.
At the reception. Photo: Doan Bac
At the reception. Photo: Doan Bac
On that basis, Dung asked AIIB to work closely with relevant ministries and agencies in Vietnam to soon agree on the financing specific infrastructure projects. Besides, AIIB should consider to reduce interest rates on its loans on a par with the general interest rate, increase the share of AIIB funding for projects and provide mechanisms for co-financing and other technical assistance for Vietnam, Dung added.

For his part, Joachim von Amsberg expressed his thanks for the contribution and support of the Vietnamese government to AIIB in the development process. Vietnam is an active member, with an important voice in AIIB activities, Joachim von Amsberg affirmed.

In particular, Joachim von Amsberg said that AIIB highly valued the State Bank of Vietnam's participation in AIIB’s governance and asked Vietnam to continue to play an active and responsible role in AIIB’s activities in the coming time.

AIIB’s vice president also said that AIIB is very interested in supporting development projects of specific infrastructure in Vietnam. On the occasion of WEF ASEAN 2018, the parties will have many meetings to be able to soon reach a final decision.

AIIB may also be interested in big privately-invested infrastructure projects such as airport and highway projects. In the short term, AIIB can assist in evaluating and finalizing the legal framework for the public private partnership investment, which may then consider lending to these projects to promote infrastructure development projects, Joachim von Amsberg added.

Deputy PM Trinh Dinh Dung said that he would ask the ministries and agencies to coordinate more closely with AIIB to soon reach a concrete agreement, from which to build models for AIIB’s funded projects in Vietnam.