- Region: Asia
September 12, 2012
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a memorandum of understanding (MOU) with Ho Chi Minh City People's Committee (Ho Chi Minh PC) for the purpose of promoting private investments and infrastructure developments.
- This MOU sets out the strengthening of cooperative ties between JBIC and Ho Chi Minh PC through exchanges of views and information and dialogues on project schemes, respective laws and regulations in order to smoothly materialize private sector infrastructure projects in which Japanese companies participate.
- As its economy has been developing, building infrastructure has become an urgent issue in Ho Chi Minh City, the commercial and industrial center of Vietnam. While infrastructure development was previously undertaken by development assistance from overseas, there is an urgent need to mobilize further private sector financing to meet vigorous demand for infrastructure services. Amid these circumstances, JBIC will strengthen close cooperative and collaborative relations with Ho Chi Minh PC based on this MOU. This is expected to contribute to promoting improvement in the investment climate of Ho Chi Minh City and, at the same time, business deployment for Japanese companies.
- JBIC will continue to support Japanese companies' participation in private sector projects, such as infrastructure projects in Ho Chi Minh City, in collaboration with Ho Chi Minh PC through its efforts to structure projects from the early stage, and JBIC will thereby contribute to deepening and developing close economic relations between Vietnam and Japan.