Vietnam strengthens ties with AIIB for strategic infrastructure development
Prime Minister Pham Minh Chinh underscored Vietnam's commitment to strengthening its cooperative relationship with the Asian Infrastructure Investment Bank (AIIB) during a reception in Hanoi on July 16 for AIIB President Jin Liqun.
PM Pham Minh Chinh (R) and AIIB President Jin Liqun (Photo: VNA)
Hanoi (VNA)✅ – Prime Minister Pham Minh Chinh underscored Vietnam's commitment to strengthening its cooperative relationship with the Asian Infrastructure Investment Bank (AIIB) during a reception in Hanoi on July 16 for AIIB President Jin Liqun.
At the reception, PM Chinh said Vietnam is pursuing three strategic breakthroughs, one of which is strategic infrastructure in such fields as transport, healthcare, education, culture, sports, climate change adaptation, digital infrastructure, green infrastructure, and circular economy.
Vietnam has significant needs across all five transport modes, including road, rail, aviation, maritime and inland waterways. However, the Government will prioritise investments that create new development spaces and added value, he said. The aim is to reduce logistics costs, promote production and trade, generate livelihoods for residents, and foster sustainable development.
He proposed that the AIIB provide Vietnam with advice support and concessional loans for large-scale, high-efficiency infrastructure projects that have the potential to reshape the nation, including the North-South hi-speed railway, three northern railway lines connecting with China and extending to Europe and Central Asia, and urban railway lines in Hanoi and Ho Chi Minh City.
The AIIB President praised Vietnam's remarkable economic achievements and growth, especially in the face of global economic challenges. He announced that AIIB will allocate approximately 5 billion USD at preferential interest rates to support Vietnam.
He fully agreed with the cooperation directions outlined by PM Chinh, with a particular focus on large-scale projects.
Established in 2016, AIIB is a multilateral development bank that began with 57 founding member countries, including Vietnam. Its membership has since expanded to 109, representing 81% of the global population and 65% of global GDP. To date, AIIB has approved 274 projects worth over 53.5 billion USD for its member countries.
In Vietnam, AIIB has focused on private sector projects totaling 223 million USD, addressing areas such as COVID-19 response, solar energy, hydropower, and climate change-related infrastructure. The bank is now expressing interest in financing some projects in renewable energy, transportation infrastructure, and water supply and drainage in Vietnam./.
The Asian Infrastructure Investment Bank (AIIB) will continue supporting Vietnam 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) Nguyen Thi Hong in Hanoi on July 15.
As part of the ASEAN Day celebrations, the Vietnamese embassy will also host the ASEAN Family Day 2025 in Ottawa to foster solidarity and community spirit among ASEAN members in Canada.
State President Luong Cuong’s trip once again reaffirmed the Party and State’s foreign policy of independence, self-reliance, diversification and multilateralisation of relations. It also reflected the strong trend of enhanced cooperation among countries of the Global South in shaping a new, more multipolar, fair and equitable world order.
The outcomes of Party General Secretary To Lam's visit will serve as a driving force and source of inspiration for the two countries to inherit, promote, and elevate their Comprehensive Strategic Partnership, contributing to the national construction and development cause in each country, and to peace, cooperation, and development in the region and the world.
Prime Minister Pham Minh Chinh on August 9 inspected the construction site of the new Phong Chau bridge, and surveyed a planned route for the Lao Cai – Hanoi – Hai Phong railway section running through the northern province of Phu Tho.
Across print, broadcast, and online platforms, Angolan media portrayed State President Luong Cuong's visit as a warm and historic occasion, strengthening bilateral ties and boosting Vietnam’s presence in Africa through the AU.
The 500kV Lao Cai – Vinh Yen power transmission line has a total investment of over 7.41 trillion VND (282.5 million USD), and a total length of 229.5 km, passing through 31 communes in the two provinces, and comprising 468 transmission tower foundations.
The visits reflected the elevated position of Vietnam’s foreign policy in the new era—aimed at not only advancing ties with key regional partners like Egypt and Angola but also delivering a strategic message about Vietnam’s commitment to deepening relations with African nations as a whole.
At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
The ruling People’s Movement for the Liberation of Angola (MPLA) attaches great importance to the friendship, solidarity, and comradeship with the Communist Party of Vietnam, and voiced her Party’s wish to further deepen and expand relations between the two sides for the benefit of the Vietnamese and Angolan people.
Vietnam pledges to do its utmost to build an ASEAN of solidarity, consensus, and unity in diversity, and to foster a fast and sustainable development path for ASEAN, grounded in science, technology, and innovation, said Prime Minister Pham Minh Chinh.
Party General Secretary To Lam called on the criminal police force to accelerate the application of science, technology, artificial intelligence, and digital transformation in criminal investigation tasks such as crime prevention, detection, tracking and verification, ensuring that no area remains out of their reach.
Many Koreans living, studying, and working in Hanoi see the upcoming state visit to the Republic of Korea (RoK) by Party General Secretary To Lam as an opportunity to generate strong synergy in economic cooperation, people-to-people exchanges, and cultural understanding.
The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh stressed that the emulation and commendation work is a vital driver, fostering patriotism, dedication, and collective momentum in the run-up to the 11th National Patriotic Emulation Congress, Party congresses at all levels, and the 14th National Party Congress.
Emphasising the need for sustainable, long-term collaboration, National Assembly Chairman Tran Thanh Man called on Japanese investors not only to bring in capital but also to share expertise and modern technology, especially in areas such as green transformation, the circular economy, and advanced corporate governance.
President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
Vietnamese Ambassador to Thailand Pham Viet Hung praised the Thai Ministry of Foreign Affairs’ meaningful initiative, noting that the ASEAN Family Run was not only a sporting activity but also an opportunity for diplomats and their families to show unity, connection, and solidarity within the ASEAN family.
Politburo member, Prime Minister Pham Minh Chinh on August 8 attended the first congress of the Party Organisation of Tay Ho ward of Hanoi for the 2025–2030 term, during which he called for fresh momentum to turn the ward into a model that takes the lead in all fields.
The size of the economy increased from over 5 billion USD in 1986 to over 476 billion USD by 2024, making Vietnam the fourth-largest economy in Southeast Asia and the 34th largest in the world.
The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
