Vietnam is a target for IFC to expand their investment capital 13/11/2023 12:15:00 682

On November 13, a meeting was held at the headquarters of the Ministry of Finance. Deputy Minister of Finance, Nguyen Duc Chi, met with Mr. Riccardo Puliti, the Vice President in charge of the Asia-Pacific Region, and Mr. John F. Gandolfo, the Deputy Vice President and Chairman in charge of treasury of the International Finance Corporation (IFC). The meeting was attended by representatives from various units under the Ministry of Finance and several experts from the IFC Office in Vietnam.

Deputy Minister Nguyen Duc Chi at the reception

At the meeting, Deputy Minister Nguyen Duc Chi expressed his gratitude to the IFC for their contributions and financial support provided to Vietnam in both the public and private sectors. The Ministry of Finance is committed to creating favorable conditions for IFC to continue investing and mobilizing investment resources, promoting economic development, especially in the private sector. The Deputy Minister expressed enthusiasm about IFC's plan to increase investment in Vietnam from USD 2 billion to USD 5 billion over the next 2-3 years. During the meeting, the Deputy Minister discussed IFC's recommendations and proposals on capital market access and financial tools to develop Vietnam's capital market, including tax exemption for loans B, which is a syndicated loan between other financial institutions and IFC. He emphasized the importance of strictly complying with tax laws and regulations in relevant international treaties that Vietnam has signed and participated in.

Overview of the meeting

The Ministry of Finance in Vietnam is working with other relevant ministries and branches to review legal regulations in order to increase IFC's investment capital in the country. The Deputy Minister has requested IFC and Vietnamese specialized agencies to continue exchanging specific information to create a basis for synthesizing and reporting. Competent authorities will then consider and make decisions based on these reports.

Mr. Riccardo Puliti spoke at the meeting as VP of the Asia-Pacific Region

During the meeting, the two Vice Presidents of the International Finance Corporation (IFC) expressed their desire to maintain close collaboration with the Ministry of Finance of Vietnam and increase investment levels in the country. However, IFC emphasized that it needs assistance and cooperation from other financial institutions and banks to achieve this goal. IFC is willing to provide relevant information and work with the Ministry of Finance to find solutions to existing problems, with the aim of boosting investment capital in Vietnam from the current 2 billion USD to over 5 billion USD within the next 2 to 3 years.

Translator: Thúy Nga