The 2017 Asian Infrastructure Investment Bank (AIIB) Annual Meeting took place at the International Convention Center in Jeju from June 16 to 18 under the theme “Sustainable Infrastructure.”
The 2nd AIIB Annual Meeting consisted of a combined 23 programs in four categories — official events, business sessions, the introducing of AIIB policies and seminars.
The meeting brought together about 2,000 participants including delegations of both 57 founding members and new members joining this year, international organizations, infrastructure businesses and financial institutions, media and academia.
Korean construction and engineering companies turned their attention to such events as the Country Investment Forum for investing in developing countries, one-one-one business meetings, and an explanation session on Korean infrastructure companies. The Country Investment Forum served as an opportunity to look at infrastructure policies of six member countries with high infrastructure development demand in Indonesia, Vietnam, Myanmar, Bangladeshi, Turkey and Pakistan. During one-on-one business meetings, Korean companies and financial institutions were given a chance to network with project owners of member countries and AIIB investment specialists for future discussions on project initiatives and participation.
On top of an explanation session on Korean infrastructure companies, Korean infrastructure company pavilions attracted a throng of spectators. Jeju Special Self-governing Provincial Government, LH Corp., Korea Expressway Corp., and K-water as well as construction and engineering companies, including Samsung C&T, Hyundai E&C, Daelim Industrial, SK E&C, SK E&C, as well as Doosan Heavy Industries and Construction participated in the explanation session and exhibition. LH Land and KEC made a pitch for Korean-type smart city and smart highway, respectively.
Attracting much attention from participants were public-private partnership officials from the World Bank and IMF Asia-pacific experts, as well as financial specialists’ participation in seminars. Seminars on promoting public-private partnerships to boost infrastructure investments, the rational sharing of roles among infrastructure financial institutions, ways of invigorating infrastructure for new and renewable energies, and how to induce private money for infrastructure investments contributed to the establishing of foothold to enter the Asian market. “This annual meeting is a good opportunity for the Korean construction industry to engrave its excellence and competitiveness in the Asian market, whose demand is on the rise,” an official at the Ministry of Strategy and Finance (MOSF) said. In particular, if Korean infrastructure companies form a network with project owners, financial, procurement and AIIB investment officials, it will likely contribute to exploring and implementing new projects in the future, he added.
DPM Kim Meets with AIIB President Jin
Deputy Prime Minister and MOSF Minister Kim Dong-yeon met with AIIB President Jin Liqun on June 15 prior to the opening of the 2017 AIIB Annual Meeting. DPM Kim said Korea’s successful hosting of the annual meeting as the chair of the meeting and founding member of the bank would contribute to expanding the AIIB’s roles. In response, AIIB President Jin extended thanks to Korea’s continued support, including the successful hosting of the annual meeting. Kim said that combining Korea’s development experiences and AIIB’s advanced investment capabilities would be mutually reciprocal investment partners.
AIIB President Jin said the AIIB’s approval of a hydroelectric power plant in Georgia in the second half of this year would prompt Korean companies and manpower to join in the growth of the bank. The $1 billion Nenskra Hydroelectric Power project is the first AIIB project involving Korea. K-water will invest $120 million in the project. The two discussed ways of contributing to the bank’s special fund for infrastructure projects in developing countries. Korea agreed to donate $8 million to the fund this year.
_AIIB.jpg)
