AIIB pledges continued support to Việt Nam in implementing green infrastructure projects

July 16, 2024 - 11:28

The Asian Infrastructure Investment Bank (AIIB) will continue supporting Việt Nam in implementing green infrastructure projects towards the core goals of sustainability, innovation and connectivity.

Governor of the State Bank of Vietnam, Nguyễn Thị Hồng, speaking at the working session. — VNA/VNS Photo

HÀ NỘI — The Asian Infrastructure Investment Bank (AIIB) will continue supporting Việt Nam in implementing green infrastructure projects towards the core goals of sustainability, innovation and connectivity, the bank's President Jin Liqun told Governor of the State Bank of Vietnam (SBV) Nguyễn Thị Hồng in Hà Nội on July 15.

During his meeting with Hồng to update the AIIB’s situations after its eight-year operation and the bank’s interest in potential projects in Việt Nam in infrastructure and renewable energy, Jin spoke highly of Việt Nam’s impressive socio-economic development achievements.

For her part, the SBV Governor spoke highly of achievements the AIIB has obtained over the past eight years, saying that its operational goals and missions such as green development, private capital mobilisation, technology-supported infrastructure development are consistent with Việt Nam’s development goals and compatible with the country’s infrastructure.

Controlling inflation and stabilising the macroeconomy are the steadfast goals of the Vietnamese Government, she said, adding that towards sustainable development, green economic development is one of the tasks focused on by the Government.

Infrastructure development is also a priority of Việt Nam, and the country aims to have 5,000km of expressways by 2030, Hồng said.

According to the SBV Governor, the private sector is considered an important driving force for economic development.

As Việt Nam’s development orientation is very close to the AIIB's goals and strategies, the country attaches importance to the relations with the AIIB, Hồng affirmed.

The AIIB, headquartered in Beijing, is a multilateral development bank established in 2016 with 57 founding members, including Việt Nam, aiming to promote sustainable economic development and infrastructure connectivity in Asia.

To date, the AIIB has funded 274 projects with a total value of over US$53.5 billion for 37 members. In Việt Nam, the AIIB has funded three projects with a total value of $223 million, focusing on COVID-19 pandemic response, solar energy development, hydropower and sustainable infrastructure.

During his stay in Việt Nam from July 15-19, Jin is scheduled to have working sessions with leaders of ministries, sectors and localities to discuss potential projects in Việt Nam. — VNS

Inflation target is achievable, wage increase expected not to have significant impact on prices

The inflationary pressure is not significant in the second half of this year, Nguyễn Đức Độ, Deputy Director of the Institute of Economics and Finance said. The inflationary drivers in the first half of this year mainly came from the increases in healthcare and education services prices from the third quarter of 2023.

Economy

Inflation a concern following salary increases

With many goods already witnessing sharp price increases in the first half of 2024, and incomes still struggling to bounce back from economic hardships, families are bracing for a potential squeeze on their budgets.

Economy

Standard Chartered forecasts Q2 GDP to moderate amid higher inflation

In its recent macro-economic updates about Việt Nam, Standard Chartered Bank forecasts the Việt Nam’s Q2 GDP growth at moderate to a still-strong 5.3 per cent year-on-year (from 5.7 per cent in Q1).

Economy

Effective price management to aid inflation control: Deputy PM

Price management measures implemented in the first five months of the year could help effectively control inflation, with the CPI rising by 4.03 per cent compared to the same period in 2023, said Deputy Prime Minister Lê Minh Khái.

Economy

Prime Minister stresses 2024 growth, inflation targets

Prime Minister Phạm Minh Chính on Saturday called for greater efforts to keep the 2024 growth rate at the upper limit of the 6-6.5 per cent target, and inflation at the lower of the 4-4.5 per cent target, given the context that there are more challenges than opportunities.

Emirates to recruit pilots in Hà Nội and HCM City

Economy

VN’s first pharmaceutical industrial park to be built

Economy

Speculation a factor behind skyrocketing housing prices in major cities: ministry

Economy

UKVFTA gives advantages to Vietnamese fishery products in the UK, urging focus on quality for further expansion

Economy

Mega high-speed rail project gathers momentum

Economy

Samsung launches technology talent development programme

More on this story

Economy

Hà Nam, RoK cooperate in developing smart urban areas, hi-tech zones

Hà Nam Province's authority and the Korea Overseas Infrastructure and Urban Development Corporation (KIND) on July 15 signed an MoU on establishing a strategic cooperation framework on smart urban area and hi-tech zone projects in the northern province.

Economy

Taxing gold buyers is a tax-on-tax, say experts

Taxing gold purchases so that people 'love' gold less needs to be thought out, not just imposed arbitrarily, to avoid a tax on tax, say experts

Economy

Obstacles needed to be removed to promote equitisation and capital divestment: MoF

The Ministry of Finance (MoF)’s experts have stressed the need to remove obstacles in mechanisms and policies to promote the equitisation and divestment of state capital in enterprises.

Economy

Banks permitted to sell investment-linked insurance products

A ban on commercial banks selling investment-linked insurance products has been lifted.

Economy

Competition in NPK fertiliser market heats up

The Vietnamese fertiliser market is fragmented, with many small producers, but that is changing

Economy

New legal framework to create advantages for foreign real estate investors

Experts believe that positive changes in real estate laws and the policies of the Government will increasingly attract many foreign investors, helping to orient the market to develop in a more healthy manner.

Economy

Cheap money period in Việt Nam forecast to come to an end

The period of cheap money in Việt Nam is coming to end as deposit interest rates are increasing, say finance experts

Economy

Mobile Money users in Việt Nam rise rapidly

The Government has extended the Mobile Money service pilot implementation period following early signs of success.

Economy

Market mixed as liquidity hits 6-session low

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index extended losses to close the trading day at 1,279.82 points, down 0.93 points, or 0.07 per cent.