PM Phuc: Private sector needs AIIB aid
The Saigon Times Daily
HCMC – Prime Minister Nguyen Xuan Phuc has proposed the Asia Infrastructure Investment Bank (AIIB) support the domestic private sector to get involved in infrastructure projects.
Phuc was speaking at his meeting at the Government Office in Hanoi on March 7 with AIIB President Jin Liqun, who is in Vietnam for a visit, the Government news site reports.
He said the Government had assigned the State Bank of Vietnam, which has experience in working with international financial institutions like the World Bank, Asian Development Bank (ADB) and International Monetary Fund (IMF), to represent Vietnam at AIIB.
Vietnam has taken out ODA and commercial loans to fund its infrastructure projects, he said, expressing appreciation of AIIBÃ¢ÂÂs policy to provide low-cost loans without government guarantees. Vietnam now needs huge finances for infrastructure development, so it attaches great importance to its cooperation with AIIB.
Vietnam, Phuc said, pays attention to attracting private sector investment, including of foreign investors. In addition to the public sector, AIIB should provide loans for the private sector to participate in infrastructure projects in Vietnam, he said.
Vietnam will be AIIBÃ¢ÂÂs reliable and responsible partner, fulfill its membership obligations and expect more support from AIIB and its president.
He said he expected AIIB would fund a project in Vietnam this year.
President Jin Liqun said Vietnam was holding high growth potential and AIIB would assist Vietnam to gain access to capital to meet its demand.
Jin said that aside from government-level cooperation, AIIB would promote lending to the private sector committed to infrastructure projects in Vietnam.