IFC plans to double its annual investments in Viet Nam
The IFC official made the remark at a press conference in Ha Noi on August 17 when concluding his four-day working visit to Viet Nam .
The move is aimed at helping Viet Nam overcome several major challenges during its socio-economic development process such as increasing global competition, financing of large investments in infrastructure, a capital market still in the early stage of development, and the need to generate jobs for hundreds of thousands of young people joining the labour market every year.
The new finances will focus on investment and technical assistance, supporting growth of the commercial finance sector, improving the general business environment, and developing infrastructure through public and private partnerships.
IFC Vice President Thunell expressed his profound impression of socio-economic development in the country over the past 15 years. He said that the IFC hopes to continue contributing to this energetic development process in Viet Nam .
IFC has been supporting Viet Nam's transition to a more market-based economy by directly financing and advising private sector companies since 1992. So far, the IFC has provided nearly 500 million USD in financing to more than 25 companies operating across a wide range of sectors.(VNA)
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