Vietnam vows to be reliable, prestigious member of AIIB hinh anh 1Deputy PM Trinh Dinh Dung (R) talks with AIIB Vice President for Policy and Strategy Joachim von Amsberg (Photo: VNA)
Hanoi (VNA) – Vietnam, as one of the founding members of the Asian Infrastructure Investment Bank (AIIB), pledges to be a reliable and prestigious member that contributes to the bank’s effective operation.

Deputy Prime Minister Trinh Dinh Dung made the statement at a reception for AIIB Vice President for Policy and Strategy Joachim von Amsberg in Hanoi on September 11.

The official congratulated the AIIB on its recent attainments, saying that the bank has financed 29 projects worth 5.85 billion USD for 13 countries and its members increased by 30 from the initial 57.

He spoke highly of the AIIB’s commitment to willingly helping Vietnam access its capital sources to develop infrastructure serving the country’s socio-economic growth.

According to the Deputy PM, Vietnam has huge demand for infrastructure development investment, especially for expressways, seaports, renewable energy and urban development.

As public debts are at a high level, capital sources from private sector will make an important contribution to the national development, gradually replacing public investment from the State budget in the future, he said.

“The Vietnamese Government will create all conditions for businesses to mobilise capital sources, especially those from international financial organisations like the AIIB, without Government guarantee,” Dung said.

In order to meet current investment demand, the Government pledges to stabilise policies and protect investors, he added.

The Deputy PM stated that the AIIB’s possible provision of financial products for infrastructure development without Government guarantee is very suitable to Vietnam’s capital mobilisation policy and orientation.

He asked the bank to closely coordinate with relevant Vietnamese ministries and agencies to soon reach consensus on financing concrete infrastructure projects, while considering reducing the interest rates of its loans and increasing financial aid to projects.

The AIIB should have a mechanism to support co-sponsored capital mobilisation and technical assistance in order to increase the bank’s lending preferences to Vietnam, he noted.

For his part, Joachim von Amsberg thanked the Vietnamese Government for supporting the AIIB in its development process. He affirmed that Vietnam is an active member that has an important voice in the bank’s operation.

He said that his bank is very interested in assisting Vietnam’s specific infrastructure development projects. During the ongoing World Economic Forum on ASEAN 2018 (WEF ASEAN), the sides will have many meetings to discuss the possibility of making final decisions.

The AIIB may also pay attention to major infrastructure projects implemented by private enterprises such as airports and expressways, he said, adding that at first, the bank will support the perfection of legal framework on public-private partnership (PPP) investment, and then consider giving loans to these projects in order to speed up infrastructure development projects.

Deputy PM Dung said the Government will urge ministries and agencies to work more closely with the AIIB to reach specific agreements as soon as possible and then build a standard model for AIIB-funded projects in Vietnam.-VNA