Prime Minister Pham Minh Chinh meets with President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun – Photo: VGP/Nhat Bac
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The two sides discussed enhancing cooperation in implementing Vietnam’s key investment projects in infrastructure connectivity, improving logistics and socio-economic development, and providing capital support for both state-owned and private enterprises.
Prime Minister Pham Minh Chinh shared with the AIIB President about Vietnam’s development orientations and priorities, stating that Vietnam aims for a growth rate of 8.3-8.5% in 2025 and double digits in the following years, hence the large capital requirement.
Vietnam’s public debt has always been within a safe threshold and has decreased significantly. The debt-to-GDP ratio stood at 55.9% in 2020 and is expected to drop to 34% by 2024. Moreover, Vietnam’s priority projects are in line with AIIB’s orientation.
Emphasizing the importance of expediting the implementation of the Lao Cai-Hanoi-Hai Phong railway connecting Vietnam with China and the power grid connecting Vietnam with ASEAN countries, the Prime Minister requested AIIB to focus on providing resources to support these two crucial projects.
Prime Minister Pham Minh Chinh suggested that AIIB continue direct funding for key infrastructure projects and create favorable conditions for both state-owned and private Vietnamese enterprises to access preferential loans with competitive interest rates and grace periods…
On this occasion, the Prime Minister highly appreciated AIIB’s cooperation with Vietnamese partners and invited President Jin Liqun to visit Vietnam in September 2025 for concrete discussions with Vietnamese counterparts.
The Prime Minister proposed that the two sides regularly review the achievements made after their meetings, address any difficulties and obstacles, and further promote cooperation.
President Jin Liqun congratulated Vietnam on its socio-economic achievements and expressed his strong impression with Vietnam’s progress in improving income levels compared to other developing countries in the region and beyond.
He believed that with the Vietnamese government’s sound macroeconomic policies and effective mobilization of external resources, Vietnam would achieve its target of double-digit growth.
The AIIB President agreed with Prime Minister Pham Minh Chinh’s proposals and affirmed that AIIB would continue to accompany and support Vietnam in mobilizing capital for key infrastructure projects, including those related to renewable energy and climate change response.
– 13:41 31/08/2025
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