Hanoi (VNA) – Deputy Minister of Finance Tran Quoc Phuong met with Kim-See Lim, Chief Investment Officer of the Asian Infrastructure Investment Bank (AIIB), and Xiaolan Wang, AIIB Mekong Regional Director, in Hanoi on November 4 to discuss bilateral cooperation and orientations for expanding ties in the coming period, according to the Ministry of Finance.
At the meeting, Phuong said the ministry highly valued AIIB’s cooperation and support for Vietnam, describing the bank as a potential development partner in raising resources for socio-economic development, especially in strategic infrastructure, green growth, energy transition and sustainable development.
Although cooperation between Vietnam and AIIB has made positive progress, its results remain modest compared with the potential as AIIB is still a relatively new partner for many Vietnamese ministries, agencies and localities, he noted.
The official welcomed plans to strengthen practical cooperation through specific initiatives and long-term programmes.
He called on AIIB to provide more information about its financing conditions, procedures and experience in implementing projects in other countries so that the ministry could share this with relevant agencies and localities.
Vietnam has substantial investment needs in strategic infrastructure, including transport, energy, urban development and regional connectivity, as well as projects supporting green growth, energy transition, climate change adaptation and sustainable development, he said.
Phuong also urged AIIB to work more closely with ministries, local authorities and project management agencies to assess investment needs, explore financing opportunities and identify suitable areas for cooperation.
In response, Kim-See Lim described Vietnam as a partner with considerable cooperation potential and expressed the bank’s interest in expanding its operations in the country, both through ongoing programmes and projects and by developing a pipeline of long-term cooperation initiatives.
AIIB is ready to work with Vietnamese ministries and localities to assess investment needs, discuss project proposals and explore appropriate financing arrangements, she said.
For large-scale infrastructure projects, the bank highlights the importance of thorough preparation, including compliance with technical standards, procurement requirements, environmental and social safeguards, resettlement policies and infrastructure safety standards, she added./.
