International Monetary Bank encouraged to back Vietnam's infrastructure development endeavors
In a significant meeting held in Rio de Janeiro, Brazil, on July 6, Vietnamese Prime Minister Phạm Minh Chính met with Jin Liqun, President and Chair of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB). The discussion focused on the strategic partnership between Vietnam and the AIIB, particularly in relation to infrastructure development.
During the meeting, Prime Minister Chính expressed gratitude for the AIIB's past contributions to Vietnam's development and emphasized the importance of continued support for major infrastructure projects, including the Lao Cai - Hanoi - Hai Phong railway line. He urged the AIIB to provide concessional loans for transformative projects that include technology transfer and human resource training.
The AIIB President, Jin Liqun, expressed strong support for Prime Minister Chính's proposals for strategic infrastructure development in Vietnam. He reaffirmed the AIIB's commitment to supporting Vietnam's infrastructure projects, including the Lao Cai - Hanoi - Hai Phong railway line, which aims to enhance connectivity, improve logistics capacity, and foster socio-economic development across Vietnam.
The AIIB will also participate in projects related to transport, healthcare, climate adaptation, power transmission, and energy transition in Vietnam and the region. The bank will ensure energy supply for high-speed rail operations in Vietnam and will collaborate with Vietnam's financial sector, such as Agribank, to develop innovative financial solutions that support sustainable development and align with Vietnam's socio-economic strategy.
Prime Minister Chính shared Vietnam's current development orientations and policies with Jin Liqun, highlighting the country's high priority on achieving an economic growth of 8 per cent in 2025 and sustaining double-digit growth in the following years. He commended the AIIB's contributions made over the past decade to Vietnam's development and expressed Vietnam's continued commitment to actively participating in the bank's suitable cooperation initiatives.
The meeting took place on the sidelines of the expanded BRICS summit, underscoring the importance of international partnerships in promoting sustainable economic growth and regional connectivity. The AIIB's continued assistance to Vietnam is expected to help attract more high-quality investment into the country, further strengthening its infrastructure and driving its economic growth.
- The AIIB's commitment to supporting Vietnam's infrastructure projects includes participating in transportation, healthcare, climate adaptation, power transmission, and energy transition initiatives, with a focus on ensuring energy supply for high-speed rail operations.
- Prime Minister Chính underscored Vietnam's development priorities, emphasizing that the country aims for an economic growth of 8 percent in 2025 and double-digit growth in subsequent years, while actively participating in the AIIB's suitable cooperation initiatives.
- In addition to infrastructure development, the AIIB will collaborate with Vietnam's financial sector, such as Agribank, to develop innovative financial solutions that support sustainable development and align with Vietnam's socio-economic strategy.
- The AIIB's continued assistance to Vietnam, in areas such as technology transfer and human resource training through concessional loans, is expected to help attract more high-quality investment, further strengthening Vietnam's infrastructure and driving its economic growth.
