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US Ex-Im Bank to discuss trade

Update: February, 07/2012 - 10:00

HCM CITY — The chairman of the US Export-Import Bank (Ex-Im Bank) is meeting this week with Government leaders in HCM City and Ha Noi to discuss trade ties and finalise funding plans for critical infrastructure projects.

Fred Hochberg is leading a business development mission in Viet Nam from February 5-8 in his second visit to the country as chairman of Ex-Im Bank.

"Viet Nam is one of the key markets where Ex-Im Bank is focusing its business development efforts because of the country's infrastructure and development needs. That's the reason I came back," he said at a press conference held in HCM City yesterday.

Last year, Ex-Im Bank authorised only about US$1 million in financing to Viet Nam.

However, nearly US$1.5 billion in funds for in critical infrastructure projects are currently being discussed, including satellite, thermal power and renewable energy projects.

This financing is the fulfillment of two existing memoranda of understanding signed in 2010 and 2011, totalling $1.5 billion.

The 2010 MOU was signed between Ex-Im Bank and the Viet Nam Development Bank and the 2011 MOU between Ex-Im Bank and Viet Nam's Ministry of Industry and Trade. — VNS

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