On August 8, 2019 at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Dao Minh Tu had a meeting with Mr. Chris Legg, Director for Group of Australia, New Zealand, Singapore and Vietnam of the Asian Infrastructure Investment Bank (AIIB).
At the meeting, Deputy Governor Dao Minh Tu welcomed Mr. Chris Legg to visit and work with the SBV. He said that this was a direct channel for the Group Office to understand the actual situations and the demands for the AIIB finance for infrastructure development, thereby protecting the rights of the member countries. The SBV Deputy Governor believed that Mr. Chris Legg would continue to accomplish successfully his role before handing over his position of Group Director to the Vietnamese representative for the term of 2020 - 2022. At the same time, he would continue to support and share valuable experience (even after the end of his tenure) with the Vietnamese representative.
Moreover, Deputy Governor Dao Minh Tu hoped Mr. Chris Legg and the AIIB’s Board of Directors would continue to effectively support the Board of Governors to promote the AIIB to become a modern and pioneering international financial institution operating in line with the international standards, effectively meeting the demands for investment in infrastructure in Asia in association with environmental protection and sustainable development. According to the SBV Deputy Governor, in the process of formulating its policies, the AIIB should pay due attention to the specific needs of the developing countries, including Vietnam.
Deputy Governor Dao Minh Tu welcomes Mr. Chris Legg
Regarding the needs and priorities of Vietnam for infrastructure investment, in the recent years, Vietnam has been actively promoting exchanges and coordination with the AIIB to review and seek suitable projects to mobilize funds from the AIIB. The Deputy Governor shared that Vietnam hopes to receive further support from Mr. Chris Legg in particular and the voice of consensus from the Constituency after having selected appropriate projects.
Since Vietnam is in the first step to access the AIIB finance with a different way of implementing projects from other organizations, the SBV Deputy Governor requested Mr. Chris Legg to work with the AIIB's Board of Directors to support Vietnam in the process of identifying and building the AIIB-funded projects in order to accelerate the AIIB’s financing for Vietnam.
For his part, Mr. Chris Legg thanked Deputy Governor Dao Minh Tu for his hospitality, and highly appreciated the contributions and support of the Government of Vietnam for the AIIB in the development process. Vietnam has been an active member, always raises an important voice in the AIIB’s activities. Mr. Chris Legg also appreciated the SBV's participation in the AIIB governance and hoped that Vietnam would continue to play an active and responsible role in the AIIB's operations in the coming time.
Mr. Chris Legg also shared that Vietnam’s assumption of the role of the Group Director during the 2020-2022 term will be an honor and a good opportunity to enhance the position and the role of Vietnam, promote the cooperation among the constituency members, and strengthen the AIIB's operations in Vietnam.
To prepare for the handover of the position of Group Director to the Vietnamese representative, Mr. Chris Legg and the Group Office members would continue to support and share their experience to help the Vietnamese representative to successfully assume the role, especially the methodology and the procedures for establishing and operating the Group Office in Vietnam.
Mr. Chris Legg shared that the AIIB is very interested in supporting specific infrastructure development projects in Vietnam. Therefore, as the Group Director, he noted and would report Vietnam's proposals for infrastructure investments to the AIIB’s Board of Directors to consider and support Vietnam in accessing the AIIB’s finance for investment in infrastructure development, serving the socio-economic development in Vietnam.
Le Hang