Prime Minister Pham Minh Chinh visits the European Investment Bank in Luxembourg. (Photo: VNA) The EIB has maintained its cooperation with Vietnamsince 1997, and it is running seven projects in the Southeast Asian nation withtotal investment of 561 million EUR (591.37 million USD), according to EIB VicePresident Kris Peeters.
Peeters noted his hope that following the PM’s visit,the bilateral cooperation will be enhanced and more successful.
PM Chinh spoke highly of the close financialcooperation between the EIB and Vietnam over the past more than two decades.
However, he said, the collaboration has yet to match their potential, pledgingthat Vietnam will make greater efforts to boost the ties.
As Vietnam is implementing three strategic breakthroughson institutions, human resources and infrastructure, the country needs resources,especially financial resources, the leader said.
At the meeting (Photo: VNA) Chinh suggested the two sides re-sign the frameworkagreement on finance, which was signed in 1997, making it match the currentsituation, and review and remove limitations in cooperation to make the best usof EIB capital in Vietnam.
He also urged the bank to closely coordinate with theVietnamese Ministry of Finance and relevant sides to facilitate theconstruction of Metro Line No. 3 in Hanoi and Metro Line No. 2 in Ho Chi MinhCity.
The bank should continue to select suitable projects inVietnam in such areas as green development, digital economy, circular economyand climate change response, he said, calling on the bank to offer a more equaland balanced approach during project implementation in the country with consideration of Vietnam's status as a developing country with low starting point.
The PM pledged that Vietnam will make efforts to improve its proceduresand management so that cooperation agreements with the EIB are rolled out in a faster and more effective way.
Peeters promised that after the meeting, the EIB will review the cooperation process to remove obstacles and limitations so that the EIB and Vietnam would engage in more cooperation projects.
On this occasion, Chinh witnessed the signing of a memorandumof understanding between the EIB and the Electricity of Vietnam (EVN) onfinancial support in energy transition, towards the target of achieving netzero emissions by 2050 as set by the Vietnamese Government./.
VNA
