The Government of Vietnam has always created favourable conditions for financial institutions in Asia and the Pacific to invest effectively in infrastructure development projects in Vietnam.
Deputy Prime Minister Vu Van Ninh made the statement on May 14 while attending the 38thAnnual Meetingof the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) which is being held in Nha Trang city, in the Central Coastal province of Khanh Hoa.
In his speech, Deputy PM Ninh said sustainable development is an important strategic objective that the Vietnamese Government is pursuing.
In fact, many infrastructure projects on a large scale have been carried out in Vietnam including highway projects; investment projects on construction of airports and seaports; and investment projects on developing clean energy, renewable energy, and forest protection, among others, he added.
The Deputy PM expressed his belief that through the conference, ADFIAP leaders would exchange experience as well as seek opportunities for co-operation to overcome challenges, to develop towardsa greeneconomy, to improve institutional capacities and maintain sustainable development for the mutual benefit of each country.
Themed ‘DFIs and Sustainable Infrastructure: Policy Framework, OperationalBestPractices and Challenges’, the conference has special significance for the emerging economies in general and the Vietnamese economy in particular.
However, the infrastructure projects are usually large ones requiring high total investment with a long payback period. The funding for those projects, especially in today’s global economic downturn, is a difficult issue for the development of financial institutions. In addition, to ensure sustainable development objectives, investment in the development infrastructure project should be in line with the synchronisation of social security, environmental protection and inclusive growth.
Founded on October 1st, 1976, ADFIAP is a non-government organisation established to respond to the need of development banks in the region, to link and mutually support them in order to improve development finance.
Up to now, ADFIAP has become a large organisation with 131 member-institutions in 45 countries and territories in the Asia – Pacific.
ADFIAP is the focal point of all development banks and other financial institutions engaged in the financing of development in the Asia – Pacific region. Its mission is toadvancesustainable development through its members.
ADFIAP’s establishmentaimstoadvancesustainable development by strengthening and enhancing the capacity of members and its human resources, as well as supporting the development of finance innovations. Through the provision of development finance services by its members, ADFIAP envisionsa futureof sustainable economic, environmental and social development and growth in the region, with its people as the ultimatebeneficiaries.
Source: Vietnambreaking News
Key words: 38th ADFIAP, open, Nha Trang, Vietnam
