HCM City to carry out int’l credit confidence assessment project
Ho Chi Minh City pays attention to a project assessing its international credit confidence and hopes that it will help raise the city’s position and prestige and expand financial resources to serve its development.
HCM City (VNA) – Ho Chi Minh City pays attention to a projectassessing its international credit confidence and hopes that it will help raisethe city’s position and prestige and expand financial resources to serve itsdevelopment.
The statement was made by Le Thanh Liem, Permanent ViceChairman of the municipal People’s Committee, at his meeting on June 18 with aworking delegation from the International Finance Corporation (IFC) andStandard & Poor (S&P) Global Ratings.
Liem thanked IFC for actively coordinating with the city inrealising the bilateral Memorandum of Understanding signed in late 2017,including the implementation of the above-mentioned project.
The rating of international credit confidence for the city isan unprecedented issue, he said, adding that the city hopes IFC and S&P, theworld’s leading providers of credit ratings, will work to ensure the project isimplemented as scheduled.
He emphasised the wish that the rating result willcontribute to the city’s development through helping investors and internationalfinancial organisations have right assessments on the city’s capacity andpotential as well as attracting more resources to serve the local socio-economicdevelopment programmes.
Kyle Kelhofer, IFC Country Manager for Cambodia, Laos andVietnam, affirmed that this is the most favourable time for Ho Chi Minh City tohave international credit rating and become a model in mobilisation ofresources for development.
Speaking highly of the city’s dynamic development, Kelhoferstated that credit confidence rating will create opportunities for the city tomobilise cheaper and more diverse capital resources.
The project will also help boost other development projectsand programmes in the city, especially in the fields of financial management,and policy making.-VNA
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