On June 25, 2025, within the framework of the 10th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB), Deputy Governor Nguyen Ngoc Canh of the State Bank of Vietnam (SBV), acting as the Alternate Governor representing Vietnam at the AIIB, attended and delivered a speech at the Governors' Business Roundtable.
Deputy Governor Nguyen Ngoc Canh speaks at the Roundtable
In his speech with the theme of “Building on a Decade of Development”, Deputy Governor Nguyen Ngoc Canh gave a comprehensive assessment on the AIIB’s development journey over its first 10 years. The SBV Deputy Governor acknowledged the AIIB’s significant achievements in expanding its membership and supporting the member countries in overcoming and recovering from crises.
Four pillars recommended for the future
In the current context, the SBV Deputy Governor proposed four key strategic recommendations for the AIIB to continue its sustainable development, which are: (i) Continuing to strengthen the strategic risk management to effectively navigate in the context of geopolitical fragmentation, technological disruptions; (ii) Enhancing the AIIB’s proactive role in mobilizing private capital, acknowledging both the potential and challenges in the strategic orientations; (iii) Remaining the principles of “Lean, Clean, Green” fully integrated throughout the AIIB’s operations; (iv) Strengthening the efforts to achieve the target of 25-30% for cross-border connectivity investments, recognizing the important role of cross-border connectivity activities in Asian regional integration amid growing geopolitical complexities
An overview of the meeting
In his speech on the theme “Promoting Infrastructure Development and Connectivity”, the SBV Deputy Governor affirmed that “Investing in connectivity is investing in shared prosperity”. Connectivity plays a central role for the development in the 21st century. When implemented effectively, the connectivity will help unlock economic opportunities and resilience.
The Deputy Governor shared about the ASEAN’s progress through the Master Plan on ASEAN Connectivity 2025, focusing on five strategic areas of: Sustainable infrastructure; Digital innovation; Seamless logistics; Regulatory excellence and people mobility. Thereby, the ASEAN Connectivity Vision 2045 has expanded and outlined six strategic areas with the goal of creating a seamless and integrated ASEAN community.
Based on the practical experience, Deputy Governor Nguyen Ngoc Canh proposed four ways for the AIIB to enhance its impact: i) Expanding the policy support for project preparation to develop more potential projects; (ii) Promoting the harmonization of regulations among the regional countries, ensuring consistent standards in cross-border activities; (iii) Scaling up blended finance solutions to attract additional private capital; (iv) Piloting smart technology and climate corridors to introduce innovative and creative integration models.
In addition, the SBV Deputy Governor also emphasized a commitment to coordinating closely with the AIIB. Vietnam is willing to share its experience, support reform-minded initiatives, and actively contribute to the common goals of sustainable and inclusive development.
High-level meeting with Chinese Finance Minister
On the side of the AIIB Roundtable, SBV Governor Nguyen Ngoc Canh had a meeting with Mr. Lan Fo’an, Chinese Minister of Finance.
SBV Governor Nguyen Ngoc Canh takes a photo with Mr. Lan Fo’an, Chinese Minister of Finance
At the meeting, Deputy Governor Canh suggested that Minister Lan Fo’an continue to support and promote the cooperation activities between China and Vietnam, especially in the key infrastructure development projects, including the railway lines connecting Vietnam and China, thereby enhancing the regional connectivity and boosting the bilateral trade.
Minister Lan Fo’an spoke highly of Vietnam’s active contributions to the AIIB’s activities and welcomed Vietnam to become a partner country of the BRICS group. He affirmed that China would continue to support and create favorable conditions for more cooperation activities in the finance sector and the infrastructure investment between the two countries, particularly in strategically significant connectivity projects for both sides.
DL