Ho Chi Minh City is committed to creating favourable conditions for the International Finance Corporation (IFC) to carry out joint projects based on current laws.
Scene at the working session between Le Thanh Liem, Vice Chairman of the HCM City People’s Committee (right, second) and Kyle F.Kelhofer, IFC Senior Country Manager for Vietnam, Laos and Cambodia (left, second) (Photo: hcmcpv.org.vn)
HCM City (VNA) – Ho Chi Minh City is committed to creating favourableconditions for the International Finance Corporation (IFC) to carry out jointprojects based on current laws, stated Le Thanh Liem, Vice Chairman of the municipalPeople’s Committee.
Liem made the statementat a reception for Kyle F.Kelhofer, IFC Senior Country Manager for Vietnam,Laos and Cambodia, in the southern city on November 17.
While affirming thatthe IFC’s financial assistance and investment mobilisation have contributedsignificantly to the city’s development, Liem asked for further support from the IFC,particularly in attracting, managing and effectively using foreign investments.
For his part, Kelhofersaid the IFC wants to assist HCM City in seeking and luring capital frominvestors and international financial partners for the city’s infrastructuredevelopment.
He noted that cooperationprogrammes with the IFC could enable the southern economic hub to accessdiverse sources of funding with low interest rates.
Kelhofer toldhis host that the IFC is willing to share experiences with the city on how toeffectively attract, manage and use foreign capital, and provide technicalsupport to help the city implement public-private partnership (PPP) projects.
At the workingsession, both sides agreed to boost relevant studies in a bid to soon turntheir bilateral cooperation plans into practical and feasible projects.
The IFC, a memberof the World Bank Group, has operated in Vietnam since 1994. It has so farmobilised 5.6 billion USD to fund 123 projects in infrastructure development,agriculture, renewable energy and banking in the country.-VNA
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Scene at the working session between Le Thanh Liem, Vice Chairman of the HCM City People’s Committee (right, second) and Kyle F.Kelhofer, IFC Senior Country Manager for Vietnam, Laos and Cambodia (left, second) (Photo: hcmcpv.org.vn) 
