Making news

PM hosts Vice Chairman of Global Infrastructure Partner

PM hosts Vice Chairman of Global Infrastructure Partner Vietnam is ready to welcome and facilitate the Global Infrastructure Partners (GIP)'s business cooperation in the country, Prime Minister Pham Minh Chinh said told Jim Yong Kim, former President of the World Bank and Vice Chairman and Partner at the GIP.

Vietnamese ministries and agencies will be assigned to actively exchange and concretise cooperation contents with the GIP on the principle of efficiency and practicality, and in line with the needs and capabilities of the two parties, the PM said.

He appreciated Kim’s contribution to promoting the good relationship between the World Bank and Vietnam, especially in providing financial resources and advice on many socio-economic development policies for the country.

The Government leader hoped that in his new position, he will continue to support Vietnam in accessing international financial resources and promoting high-quality investment projects, especially in obtaining capital sources from such funds as the GIP.

The PM highlighted the important achievements the country has gained since the Doi moi (renewal) process was launched in 1986.

Last year, Vietnam’s Gross Domestic Product (GDP) expanded by more than 8%, the highest in the region. Vietnam's GDP scale exceeded 400 billion USD, ranking fourth in the Association of Southeast Asian Nations (ASEAN), and its trade turnover surpassed 700 billion USD. The country's business and investment environment has continuously improved in recent years.

For his part, the GIP Vice Chairman expressed his admiration for Vietnam's socio-economic development, saying that this is the motivation for him and his associates to further strengthen cooperation with Vietnam.

The GIP is interested in pouring capital in the fields of transport, energy and digital technology, he said, revealing that it is willing to invest 1 billion USD in Vietnam.

The official said he expects the Vietnamese Government to support and direct its ministries and agencies to work with the GIP in devising an investment strategy suitable for Vietnam and mulling over specific cooperation projects.

The Vietnamese Government leader welcomed the GIP's interest in investing in strategic infrastructure in Vietnam, especially transport infrastructure, promoting digital transformation and green transition, combating climate change, and implementing agreements to reduce emissions to zero by 2050.

The PM asked Kim and his associates to provide advice and devise special mechanisms for Vietnam to approach capital resources quickly and efficiently in the spirit of harmonising benefits and sharing risks.

He also hoped that the GIP will share experience and information with and support Vetnam in terms of capital, technology, human resources, and governance./.