Vietnam central bank, AIIB meet to discuss cooperation

Hanoi, Aug 18 (IANS) Representatives of the Vietnamese central bank and the Asian Infrastructure Investment Bank (AIIB) discussed cooperation in a meeting here, it was announced on Thursday.

Vietnam is aiming to create favourable conditions for attracting more investment in infrastructure sector, Xinhua news agency quoted Deputy Governor of the State Bank of Vietnam Dao Minh Tu as telling Christopher Legg, AIIB Director for Australia, New Zealand, Singapore and Vietnam at the meeting here earlier this week.

Vietnam and the AIIB will soon select appropriate projects which have economic effectiveness while still securing the target of maintaining sustainable public debt, Tu said.

Legg, for his part, said that based on investment demand and policies of Vietnam, he will urge the AIIB to consider providing financial support for Vietnam.

The AIIB, formally established in Beijing in December 2015, is a multilateral financial institution with the aim of promoting investment in infrastructure projects in the Asia-Pacific region.