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Deputy PM Hue urges IFC to buy stakes in major commercial banks

Deputy Prime Minister Vuong Dinh Hue has suggested that the International Financial Corporation (IFC) buy stakes in Vietnam’s major commercial banks when meeting with the IFC Chief Operating Officer Stephanie von Friedeburg in Hanoi on November 7.
Deputy PM Hue urges IFC to buy stakes in major commercial banks ảnh 1Deputy Prime Minister Vuong Dinh Hue (R) and IFC Chief Operating Officer Stephanie von Friedeburg (Photo: VNA)

Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue has suggestedthat the International Financial Corporation (IFC) buy stakes in Vietnam’smajor commercial banks when meeting with the IFC Chief Operating Officer Stephanie vonFriedeburg in Hanoi on November 7.

The Deputy PM said the IFC’s investment in Vietnamese banks andfinancial institutions has helped with the equitisation process, the privatesector’s development and mobilization of capital for infrastructure.

He noted that the Vietnamese Government is aware ofthe imbalance in the capital market and has conducted restructuring of thismarket, recording positive results.
He informed the guest about some important infrastructure projects to belaunched in the time ahead, such as the Long Thanh airport and the North-Southhighway, asking the IFC to provide funding to enterprises and banks forinvestment in those projects.

The IFC executive said the institution appreciates opportunities offinancial investment in Vietnam, adding that it wants to work with Vietnam todevelop the country’s capital markets through introducing new products on thestock market, helping develop the corporate bond market and invest in large-scaleprojects in the country.

She asked the Vietnamese Government to allow international financialorganisations to accept mortgages in the form of land use right and land-linkedassets.   

In reply, Deputy PM Hue said the issue has not been covered inVietnamese law. He assigned the Ministry of Natural Resources and Environment,the State Bank and the Ministry of Justice to study the matter and report tothe Prime Minister for consideration./.
VNA
#Deputy Prime Minister Vuong Dinh Hue #International Financial Corporation (IFC) #buy stakes #commercial banks #IFC Chief Operating Officer Stephanie von Friedeburg #investment #infrastructure #Vietnamplus #Vietnam News Agency
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