By Ko Chang-nam
The 2017 Asian Infrastructure Investment Bank (AIIB)'s annual meeting in Jeju is scheduled to be held from June 16 to 18. The meeting is AIIB's flagship event and this year's meeting is the second one following the Beijing meeting the previous year.
Over 2000 delegates, including governors and finance ministers of member countries as well as presidents of central banks, representatives of international organizations, businessmen from infrastructure-related industries and financial institutions, and participants from civil society organizations and leading experts from a range of fields are expected to take part in to talk about how to build a better and more sustainable future.
The AIIB is a multi-lateral development bank (MDB) which is aimed at fostering sustainable economic development, creating wealth and improving infrastructure connectivity in Asia by investing in infrastructure and other productive sectors, and its headquarters are located in Beijing, the People's Republic of China. This year's annual meeting is the first one to be held outside China. The theme of this year's annual meeting is "Sustainable Infrastructure." The program will be composed of the annual meeting and various international seminars, investment fora, business meetings and exhibitions to share knowledge and opinions about infrastructure development.
Therefore, the 2017 AIIB Jeju meeting is a very important opportunity for the AIIB itself and for Jeju Island. Through this opportunity, the Republic of Korea is expected to play a leading role in the development of infrastructure and the discussion of economic growth in Asia as a host country of the meeting.
Meanwhile, the Jeju Island Governor made a presentation on a "Carbon-free Island" project at the 2015 United Nations Climate Change Conference in Paris, France. Jeju Island will transform itself into a carbon-free island by replacing its entire fleet of cars with electric vehicles and meeting 100 percent of its energy needs through renewable energy sources by 2030, and it will be in line with the AIIB's theme of "Sustainable Infrastructure" at its second annual meeting.
In this context, Jeju Island is emerging as the foothold of "Sustainable Infrastructure." including electric vehicles, smart grid and its related industry in Korea. In January, the Jeju Island Governor made a presentation on the "Jeju Green Big Bang" project at the Davos World Economic Forum, and it is an ambitious project aimed at the 4th industrial revolution in the field of electric power systems, reducing greenhouse gas and promoting industrial development.
In addition, Jeju Island is advancing a project of constructing its second international airport because the existing Jeju international airport has already reached its capacity. Taking this opportunity of hosting the 2017 AIIB Annual Meeting, the Jeju Island Governor and the residents of the island have high hopes that the AIIB will finance the second Jeju International Airport project.
In conclusion, the AIIB's second annual meeting will serve as a platform for the AIIB to firmly position itself as a multilateral development bank mandated in infrastructure development, and Jeju Island is expected to firm up its position as the center of "Sustainable Infrastructure" and "Green Infrastructure" in Korea and abroad, thus boosting economic growth and international cooperation in the field of infrastructure development.
The writer is a former Economic Affairs Officer of the United Nations ESCAP (Economic and Social Commission for Asia and the Pacific). Write to kcn1204@hanmail.net
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The 2017 Asian Infrastructure Investment Bank (AIIB)'s annual meeting in Jeju is scheduled to be held from June 16 to 18. The meeting is AIIB's flagship event and this year's meeting is the second one following the Beijing meeting the previous year.
Over 2000 delegates, including governors and finance ministers of member countries as well as presidents of central banks, representatives of international organizations, businessmen from infrastructure-related industries and financial institutions, and participants from civil society organizations and leading experts from a range of fields are expected to take part in to talk about how to build a better and more sustainable future.
The AIIB is a multi-lateral development bank (MDB) which is aimed at fostering sustainable economic development, creating wealth and improving infrastructure connectivity in Asia by investing in infrastructure and other productive sectors, and its headquarters are located in Beijing, the People's Republic of China. This year's annual meeting is the first one to be held outside China. The theme of this year's annual meeting is "Sustainable Infrastructure." The program will be composed of the annual meeting and various international seminars, investment fora, business meetings and exhibitions to share knowledge and opinions about infrastructure development.
Therefore, the 2017 AIIB Jeju meeting is a very important opportunity for the AIIB itself and for Jeju Island. Through this opportunity, the Republic of Korea is expected to play a leading role in the development of infrastructure and the discussion of economic growth in Asia as a host country of the meeting.
Meanwhile, the Jeju Island Governor made a presentation on a "Carbon-free Island" project at the 2015 United Nations Climate Change Conference in Paris, France. Jeju Island will transform itself into a carbon-free island by replacing its entire fleet of cars with electric vehicles and meeting 100 percent of its energy needs through renewable energy sources by 2030, and it will be in line with the AIIB's theme of "Sustainable Infrastructure" at its second annual meeting.
In this context, Jeju Island is emerging as the foothold of "Sustainable Infrastructure." including electric vehicles, smart grid and its related industry in Korea. In January, the Jeju Island Governor made a presentation on the "Jeju Green Big Bang" project at the Davos World Economic Forum, and it is an ambitious project aimed at the 4th industrial revolution in the field of electric power systems, reducing greenhouse gas and promoting industrial development.
In addition, Jeju Island is advancing a project of constructing its second international airport because the existing Jeju international airport has already reached its capacity. Taking this opportunity of hosting the 2017 AIIB Annual Meeting, the Jeju Island Governor and the residents of the island have high hopes that the AIIB will finance the second Jeju International Airport project.
In conclusion, the AIIB's second annual meeting will serve as a platform for the AIIB to firmly position itself as a multilateral development bank mandated in infrastructure development, and Jeju Island is expected to firm up its position as the center of "Sustainable Infrastructure" and "Green Infrastructure" in Korea and abroad, thus boosting economic growth and international cooperation in the field of infrastructure development.
The writer is a former Economic Affairs Officer of the United Nations ESCAP (Economic and Social Commission for Asia and the Pacific). Write to kcn1204@hanmail.net
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