Illustrative photo (Source: Nikkei Asian Review) Hanoi (VNA) – The Japan Bank for International Cooperation (JBIC) is interested ininvestment plans for energy projects of the Vietnam Electricity (EVN) andVietnam Oil and Gas Group (PVN), unveiled Kazuhisa Yumikura, Managing ExecutiveOfficer and Global Head of Infrastructure and Environment Finance Group at JBIC.
He spoke of theintention at a recent working session between the Japanese policy-basedfinancial institution and Vietnam’s Committee for Management of State Capitalat Enterprises.
JBICconsiders the Vietnamese Government and state-run companies its importantpartners, Yumikura said.
According tohim, in the context of Vietnam working to limit government debt, EVN and PVNhave improved their performance via self mobilisation of capital without theGovernment’s guarantee. As a result, JBIC’s lending to both companies withoutsuch guarantee is suitable to the country’s orientation, he concluded.
However, hesaid the work is not easy, highlighting JBIC’s hope for comprehensive supportfrom the Vietnamese Government. The lending process requires assessment toensure business capacity of EVN and PVN, he added.
Yumikurasaid JBIC always pays attention to the monitoring of projects run by EVN, asthe group plays an important role in the reform of the Vietnam’s electricityindustry despite increasing engagements of the private sector.
He stressedJBIC wants to join a policy dialogue mechanism with Vietnamese public agencies.
Agreed withthe Japanese guest, Nguyen Thi Phu Ha, Vice Chairwoman of the Committee forManagement of State Capital at Enterprises, informed him that the Governmenthas assigned the Ministry of Industry and Trade to draft a memorandum ofunderstanding on the mechanism with support from EVN and PVN.
Shesuggested JBIC coordinate with the Vietnamese side to carry out workshopssharing experience on offering loans for energy projects and conditionsrequired to obtain loans without the Government’s guarantee.
She said hercommittee also manages state-run companies implementing national transportinfrastructure projects that JBIC could consider its participation in.
Thecommittee is willing to update information on such projects for JBIC in linewith regulations, Ha added.-VNA
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