AIIB helps develop sustainable infrastructure in Asia

The Asian Infrastructure Investment Bank (AIIB), a multilateral development bank, has helped many Asian countries have better infrastructure, deeper regional integration, and accelerated poverty reduction, said an official from the bank.
AIIB helps develop sustainable infrastructure in Asia ảnh 1The second annual meeting of the AIIB's board of governors in 2017 (Source: Yonhap/VNA)

Hanoi (VNA) – The Asian Infrastructure InvestmentBank (AIIB), a multilateral development bank, has helped many Asian countrieshave better infrastructure, deeper regional integration, and accelerated povertyreduction, said an official from the bank.

According to Supee Teravaninthorn, Director General of AIIB's InvestmentOperations Department, the bank has mainly focused on promoting sustainableinfrastructure, regional connectivity and private capital mobilisation over thelast two years.

In the first year of operation in 2016, AIIB approved an investment of 1.7billion USD for nine infrastructure projects in seven countries, including Pakistan,Bangladesh, Tajikistan, Indonesia, Myanmar, Azerbaijan and Oman, she said.

In 2017, another 2.5-billion-USD investment was approved by the bank for Egypt, Georgia, India,the Philippines, and China, she added.

She noted that for countries in the Greater Mekong Sub-region, AIIB has alreadyfinanced, approved, or prepared funds for infrastructure projects, including projectsto improve energy efficiency and air quality in Myanmar and China.

The bank plans to help Laos implement a project to upgrade National Road No. 13 with an allocation of 40million USD, she revealed.  

AIIB is considering projects related to water resources, energy, andsustainable city development in Vietnam, which are likely to be done in2018 or 2019, she stated.

As a Beijing-based multilateral development bank, AIIB counts 84 members,rising from 57 at its inception in January 2016. Its main mission is to improve social and economic outcomes in Asia and beyond.-VNA
VNA

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.