Japan Bank Helps Boost Infrastructure Projects in Vietnam Capital City

The Hanoi People’s Committee and the Japan Bank for International Cooperation (JBIC) on September 12 signed a memorandum of understanding on promoting investment in infrastructure projects in the city. Under the agreement, the two sides will create favorable conditions for the private sector to engage in urban infrastructure and industrial projects in the forms of public-private partnership (PPP) and built-operation-transfer (BOT). The projects can see the participation of Japanese companies, as investor or contractor, and other companies that qualify for receiving JBIC’s financial assistance. Earlier, the Hanoi’s metro railway No. 5 was chosen for PPP investment. Total investment for development projects in Hanoi is forecasted at VND500 trillion ($23.8 billion) by 2020. Of the sum, the city’s budget will meet just 20% and PPP is expected to help Hanoi solve its capital shortage. (vietnamplus.vn Sept 12, vovnews.vn Sept 13, Hanoi Moi – New Hanoi Sept 13)