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Vietnam expects AIIB to be reliable investment, capital channel

Xinhua, January 18, 2017 Adjust font size:

Vietnam expected the Asian Infrastructure Investment Bank (AIIB) will become a reliable investment and capital channel to offer effective assistance for Asian countries in infrastructure improvement and development, said a Vietnamese official on Wednesday.

Pham Binh Minh, Vietnam's deputy prime minister and foreign minister, made the remarks at a meeting with D.J. Pandian, AIIB vice president, in capital Hanoi.

According to Minh, the visit by AIIB's high-level delegation to Vietnam right after the AIIB president met with the Communist Party of Vietnam General Secretary Nguyen Phu Trong during Trong's visit to China in Beijing showed AIIB's goodwill and interest for cooperation with Vietnam.

Minh highlighted efforts by AIIB members and leadership board to speed up the foundation and operation of AIIB as one of the main international financial institutions whose goal is to bring prosperity to Asia through infrastructure investment and connectivity, reported the Vietnamese government's e-Portal.

Minh, who also heads Vietnam's national steering committee on official development assistance (ODA) and preferential loans, said at the meeting that Vietnam wishes to diversify its loans for infrastructure development, including those by AIIB.

The Vietnamese official urged AIIB to closely coordinate with the State Bank of Vietnam and relevant agencies to reach consensus in cooperation.

D.J. Pandian, who is also the bank's chief investment officer, said in less than one year of operation, AIIB has yielded optimistic results, expanded cooperation mechanisms with other international financial organizations, attracted interest and desire to participate of many countries.

AIIB was formally established in Beijing in December 2015 and started operation in January 2016. Endit