A cooperation framework on strengthening infrastructure finance between the U.S. Department of the Treasury and the Vietnamese Ministry of Finance was signed on November 6 in Ha Noi.  

Deputy Assistant Secretary at the United States Department of the Treasury
for International Affairs Michell Silk, Deputy Minister of Finance Tran Xuan Ha
inks a cooperation framework on strengthening infrastructure finance between
the U.S. Department of the Treasury and the Vietnamese Ministry of Finance,
Ha Noi, November 6, 2019 - Photo: VGP

 Deputy Assistant Secretary at the United States Department of the Treasury for International Affairs Michell Silk, Deputy Minister of Finance Tran Xuan Ha inked the cooperation framework. 

Speaking at the ceremony, Ha asserted that the cooperation framework between the two agencies aims to mobilize and take advantages of private capital and develop the financial market for infrastructure, helping Viet Nam gain priorities on infrastructure in the upcoming time. 

The capital investment for infrastructure in Viet Nam in the time ahead is huge, said Ha. 

According to the report of the Ministry of Planning and Investment, demands for investment in Viet Nam’s infrastructure in the 2017-2020 period is estimated at US$195 billion, focusing on energy, roads, aviation, clean water supply and waste treatment.  

The cooperation framework contributes to forming a policy mechanism to mobilize capital from the private sector and develop the financial market for infrastructure development in Viet Nam in the upcoming time as well as promotes the bilateral relationship, added Ha. 

The agreement heads to improve and eliminate barriers to strengthen financial tools for debt and capital markets and enhance relevant activities to narrow gap and shortage in infrastructure development in the next 4-5 years, thus reducing the Government’s pressures on finance and attract more private capital, said Michell Silk. 

The two sides will establish a working group including representatives of related sides, including the participation of the U.S. Office of Technology Assessment (OTA).