HCM City steps up cooperation with IFC
Ho Chi Minh City is committed to creating favourable conditions for the International Finance Corporation (IFC) to carry out joint projects based on current laws, stated Le Thanh Liem, Vice Chairman of the municipal People’s Committee.
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Liem made the statement at a reception for Kyle F.Kelhofer, IFC Senior Country Manager for Vietnam, Laos and Cambodia, in the southern city on November 17.
While affirming that the IFC’s financial assistance and investment mobilisation have contributed significantly to the city’s development, Liem asked for further support from the IFC, particularly in attracting, managing and effectively using foreign investments.
For his part, Kelhofer said the IFC wants to assist HCM City in seeking and luring capital from investors and international financial partners for the city’s infrastructure development.
He noted that cooperation programmes with the IFC could enable the southern economic hub to access diverse sources of funding with low interest rates.
Kelhofer told his host that the IFC is willing to share experiences with the city on how to effectively attract, manage and use foreign capital, and provide technical support to help the city implement public-private partnership (PPP) projects.
At the working session, both sides agreed to boost relevant studies in a bid to soon turn their bilateral cooperation plans into practical and feasible projects.
The IFC, a member of the World Bank Group, has operated in Vietnam since 1994. It has so far mobilised US$5.6 billion to fund 123 projects in infrastructure development, agriculture, renewable energy and banking in the country.
