Vietnam to do utmost to support AIIB’s activities, PM says
Prime Minister Nguyen Xuan Phuc received President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun on March 7, saying that Vietnam will exert every effort to support the bank’s activities.
Prime Minister Nguyen Xuan Phuc (R) receives AIIB President Jin Liqun on March 7 (Photo: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phucreceived President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqunin Hanoi on March 7, saying that Vietnam will exert every effort to support thebank’s activities.
He said Vietnam attaches importance to thecooperation with AIIB and will continue collaborating with the bank as atrustworthy and responsible partner.
The State Bank of Vietnam, which represents thecountry at international financial and monetary organisations such as the WorldBank, the Asian Development Bank and the International Monetary Fund, remainsthe representative of Vietnam at AIIB to take charge of the country’sobligations and activities at this bank.
Vietnam is borrowing both ODA and commercialloans to develop infrastructure as it has a high demand for infrastructureexpansion while having to keep the public debt within the limit. Therefore,AIIB’s loans which have low cost and do not need the Government’s guarantee arevaluable for Vietnam, the PM noted.
He added the Vietnamese Government hopes thataside from aiding the public sector, AIIB will also support the private sectorto develop infrastructure in the country.
With the fine relationship, mutual understandingand common efforts, AIIB will bring about practical benefits for the course ofdevelopment in Vietnam, he said.
The bank not only provides loans but also brings in modern and environmentallyfriendly technology and jobs for Vietnam, he added.
At the meeting, AIIB President Jin acknowledgedthe Vietnamese Government’s support for his bank’s activities, adding that hewants to do more for the local development.
AIIB can give the country loans withconcessional terms, which are good for economic development, he said.
The bank pledges to step up the provision ofloans without the Government guarantee for Vietnam’s private sector since thecountry has won the trust of the international community, he added.
Jin asked the Vietnamese Government to ensuremacro-economic stability and a stable legal system when AIIB give loans to thelocal private sector.
He said if Vietnam pays attention to infrastructure development, it will reapeven greater socio-economic achievements in the next decades.-VNA
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Prime Minister Nguyen Xuan Phuc (R) receives AIIB President Jin Liqun on March 7 (Photo: VNA) 
