Today: 04/03/2024 17:43:14 (GMT+7)

IFC commits nearly $1.9B in Vietnam investment

The International Finance Corporation (IFC), a unit of the World Bank, has committed to investing nearly $1.9 billion in Vietnam through the 2023 financial year.

"IFC's investment and advisory programs addressed core challenges for Vietnam – from climate change and food security to trade barriers and housing finance gap – helping local companies recover from the Covid-19 pandemic and navigate challenging internal and external environments," the corporation said in a statement.

IFC, Vietnam investment,  International Finance Corporation, World Bank, investment and advisory programs,  climate change, food security

Customers shop in a supermarket in Ho Chi Minh City.

Among the firms IFC has invested in are livestock producer BaF and retail operator GS25.

IFC has also provided over $1.3 billion in short-term trade and supply chain finance to local companies in Vietnam, particularly garment and agribusiness suppliers, enabling them to continue importing and exporting goods while protecting about 100,000 jobs.

It has also committed over $900 million in long-term finance to support climate-related projects in the country.

The corporation is supporting relevant ministries in developing policies to incentivize green projects and encourage private sector participation in the voluntary carbon market.

Across the Asia and Pacific region, IFC has committed a record $11 billion to 108 projects this financial year, a 10% year-on-year increase.

Bac Giang accelerates disbursement of public investment capital in last months
BAC GIANG – The Chairman of the Bac Giang provincial People's Committee (PPC) has issued Correspondence 4881/UBND-TH on accelerating the disbursement of the public investment capital plan and the national target program in the last months of 2023.
Swiss Investment Fund provides 20 million USD to support renewable energy development in Vietnam
Switzerland’s responsAbility has continued its support by providing a loan package worth 20 million USD to Vietnam’s CME Solar Investments (CME) to develop renewable energy projects in the Southeast Asian country.
Department of Planning and Investment discusses and removes difficulties for businesses
BAC GIANG - On the morning of August 15, the Department of Planning and Investment (DoPI) of Bac Giang province held a conference to meet and talk with companies and investors in the province to listen, grasp and promptly remove their difficulties during production and doing business.
Ample room remains for Vietnam-Israel to boost trade, investment cooperation
There remains ample space for Vietnam and Israel to enhance their economic and trade cooperation, towards building a business ecosystem for their business communities in the time ahead, heard a forum in Ho Chi Minh City on August 15.
PM calls on Abbott to expand investment in Vietnam
Prime Minister Pham Minh Chinh on August 9 suggested US healthcare giant Abbott expand its investment and upgrade the quality of its pharmaceutical manufacturing plants in Vietnam, thus helping promote the domestic pharmaceutical industry.

Source: VnExpress

IFC, Vietnam investment, International Finance Corporation, World Bank, investment and advisory programs, climate change, food security
New comment has just been added. Click here
Sort:NewBest News