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Vietnam, US cooperate to strengthen infrastructure finance

The Ministry of Finance inked a cooperation framework to strengthen infrastructure finance with the US Department of the Treasury in Hanoi on November 6.
Vietnam, US cooperate to strengthen infrastructure finance ảnh 1At the signing ceremony (Photo: VNA)

Hanoi (VNA) – The Ministry ofFinance inked a cooperation framework to strengthen infrastructure finance withthe US Department of the Treasury in Hanoi on November 6.

Deputy Minister of Finance Tran Xuan Ha said theframework aims to mobilise private capital and develop financial markets forinfrastructure, thus helping Vietnam achieve its priorities in the field in thenear future.

He added that the country’s need for investmentcapital for infrastructure in the coming time is extremely huge. According to areport of the Ministry of Planning and Investment, Vietnam will need an estimated195 billion USD for infrastructure development during 2017-2020.

Energy, roads, bridges, aviation, clean water supply, and waste treatment areimportant fields, Ha said.

Michell Silk, Acting Assistant Secretary of theUS Department of the Treasury, said the framework looks to remove barriers inorder to increase financial instruments for the debt and capital markets andpromote related activities.

It is also expected to reduce financial pressureon the Vietnamese Government and attract more private capital to developinfrastructure in the Southeast Asian country, he added.

To implement the framework, the two sides willset up a working group, including members representing the two sides’ relevantagencies, and with the participation of the US Office of Technical Assistance(OTA)./.
VNA
#Ministry of Finance #cooperation framework #US Department of the Treasury #strengthen infrastructure finance #Deputy Minister of Finance Tran Xuan Ha #Ministry of Planning and Investment #Michell Silk #Acting Assistant Secretary of the US Department of the Treasury #Vietnamplus #Vietnam News Agency United States Vietnam
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