Vietnam to attract Japan’s private investment

11:27 AM @ Sunday - 08 August, 2010
Vietnam needs to attract Japan’s private investment capital for its infrastructure development, said Deputy Minister of Planning and Investment Dang Huy Dong.

Deputy Minister Dong made the statement while talking with Tokyo-based Vietnam News Agency correspondent on the occasion of his working visit to the country that concluded on August 8.

On the prospects of attracting investment from Japan ’s private sector into Vietnam ’s infrastructure projects, Dong said that his working visit to Japan is among four national investment promotion activities in 2010.

Japan is the first destination as the Asian north-eastern nation is Vietnam ’s traditional economic cooperation partner over the two past decades and will be the nation’s important economic partner in the coming decade, he said.

He went on to say that the visit was intended to promote public-private partnership (PPP) investment in Vietnam ’s large-scaled infrastructure construction projects, attract investment from Japan ’s small and medium-sized enterprises and encourage Japan ’s indirect investment channel into Vietnam .

According to Deputy Minister Dong, Vietnam needs at least 15 billion USD per year for large-scaled infrastructure development projects for the next decade.

He said he agreed with senior economic experts from Japan ’s Daiwa Institute of Research that Vietnam should transfer its dependence on official development assistance (ODA) capital sources to mobilising capital sources from the private sector to develop infrastructure, including the application of PPP model.

He noted that 50-60 percent of estimated capital sources for Vietnam ’s infrastructure development in the coming decade must be mobilised from domestic and foreign private sectors.

It is feasible for Vietnam to mobilise 60-70 billion USD in the next 10 years, Dong said.

He cited the data at the Vietnam-Japan economic seminar in Tokyo , on August 3 as saying that the capital that Vietnam hopes to mobilise from the private sector only make up almost one percent of Asia ’s total of 8 trillion USD.

He also noted that both Japanese Government and businesses expressed their keen interest in investment under the PPP model in Vietnam./.

(Source: en.vietnamplus.vn)
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