IFC would help Vietnam build back a better and greener industry, rejuvenating the private sector and consolidating future resilience. (Photo: tinnhanhchungkhoan.vn)
Hanoi (VNS/VNA) - The International Finance Corporation (IFC) is committedto supporting Vietnam to leverage more private sector investment to meet itsclimate goals.
The remarkwas made by Alfonso Garcia Mora, IFC’s Regional Vice President for the AsiaPacific, during his five-day visit to the country.
TheVice President said IFC would help Vietnam build back a better and greenerindustry, rejuvenating the private sector and consolidating future resilience.
“Vietnamhas set ambitious twin goals to become a high-income country by 2045 andachieve carbon-neutral status by 2050. With COVID-19 already depleting publicresources, the private sector can play a key role in the country’s transition toa low-carbon growth model if the conditions are right and policies are inplace,” he said.
Duringhis visit, Garcia Mora will meet with senior government officials to discussways to help Vietnam sustain rapid growth amid the pandemic and reach the nextlevel of development by 2045.
TheVice President will also talk with business representatives to gain aninsight into the challenges facing the private sector and how IFC can promote adynamic, competitive and innovative private sector to accelerate Vietnam’seconomic transformation.
GarciaMora has been accompanied by Thomas Jacobs, who earlier this month wasappointed IFC’s new Country Manager for the Mekong region covering Vietnam,Cambodia and Lao PDR.
Activein Vietnam for more than 20 years, IFC has been a key partner in thedevelopment journey of the country and its private sector, pouring 13.3 billionUSD into more than 190 projects since its first in-country investment in 1994.
Asof June 30, 2021, IFC’s committed portfolio in Vietnam hit nearly 1.9 billion USD.
Accordingto the corporation, Vietnam’s climate-smart business investment potential willtop 753 billion USD by 2030 as the country transitions to a climate-resilientand low-carbon economy./.
The International Finance Corporation (IFC) has provided a 100 million USD long-term loan for the Orient Commercial Joint Stock Bank (OCB) to increase the private sector’s contributions to green and sustainable growth in Vietnam.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
IFC would help Vietnam build back a better and greener industry, rejuvenating the private sector and consolidating future resilience. (Photo: tinnhanhchungkhoan.vn) 
