Vietnam Time

8/2/2019 11:42:37 AM

RoK shares experience with Vietnam in mobilising private capital

The Republic of Korea (RoK) has agreed to cooperate with Vietnam in sharing experience in mobilizing private investments for infrastructure development.

RoK Deputy Minister of Finance Koo Yun-Cheol (Second from the left) and Vietnamese Deputy Minister of Planning and Investment Nguyen Duc Trung (left) at the event (Photo: Yonhap)

The two sides reached the agreement in a meeting between RoK Deputy Minister of Finance Koo Yun-Cheol and Vietnamese Deputy Minister of Planning and Investment Nguyen Duc Trung in Seoul on July 31.

Koo said private capital mobilization is necessary for Vietnam to increase industrial production efficiency and improve people’s quality of life.

Trung said the RoK’s experience in the field is useful for Vietnam’s plan in luring more investments from the private sector for the construction of roads, railways and other infrastructure.

In 1995, the RoK allowed infrastructure projects to get capital sources from the private sector. Private investors have so far financed 719 projects worth KRW 114,500 billion (USD 96.7 billion) across the country.

  ( VNF/VNA )
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