U.S.
Export-Import Bank chairman and president Fred P. Hochberg is leading a
business development mission in Vietnam on February 5 – 8, which he said
funding of almost $1.5 billion in critical infrastructure projects are
currently in discussion.
The infrastructure projects include satellite,
thermal power, and renewable energy ones, according to the Ex-Im Bank chairman,
who had a press briefing at the U.S. Consulate General in Ho Chi Minh City Feb.
6.
“We are here to roll up our sleeves and get
these transactions done,” Hochberg said in a statement.
“Vietnam’s infrastructure continues to develop
at a rapid rate, and I want to make certain that high-quality American goods
and services are available for these projects.”
In connection with these projects, there is
also an additional $500 million in financing that the American bank hopes to
close on in the near future, according to the lender.
In 2011, Ex-Im Bank authorized only about $1
million in financing to Vietnam.
Hochberg is set to meet with government
leaders in both Ho Chi Minh City and Hanoi to boost commercial ties and
business opportunities between the two countries. Ex-Im Director Patricia Loui
and other senior officials are traveling with him.
U.S. small and mid-sized businesses interested
in obtaining financing support for sales to Vietnam and other key countries
should contact their Regional Export Finance Center at 1-800-565-EXIM (3946)
and selecting option 2.
Vietnamese businesses interested in learning
about competitive financing that may be available for purchases of U.S. goods
and services should contact the U.S. Foreign Commercial Service office in Hanoi
at 4-3850-5199 and Ho Chi Minh City at 8-3520-4680. .
The American bank’s funding is the fulfillment
of two existing memoranda of understanding signed in 2010 and 2011 totaling
$1.5 billion. The earlier MOU was signed between Ex-Im Bank and the Vietnam
Development Bank, and the later one between Ex-Im Bank and Vietnam's Ministry
of Industry and Trade.
The MOUs called for the facilitation of U.S.
exports to Vietnam in key sectors such as air transportation, power generation
and transmission, and oil and gas development
Ex-Im Bank president Hochberg is due to meet
with Vietnamese Prime Minister Nguyen Tan Dung, Finance Minister Vuong Dinh
Hue, the chief executives of the Electricity of Vietnam Group, National Power
Transmission Corporation, and Vietnam Development Bank.
“Vietnam is a country of enormous potential,
and it is vital that we work together and invest in projects that benefit both
of our economies,” Hochberg said in Monday’s statement.
“Significant infrastructure developments are
planned throughout Vietnam over the next several years, and I’m here to ensure
that American companies invest in those projects, and that we maintain a
dynamic and comprehensive partnership,” he added.
The American bank says its current exposure to
Vietnam is $175.8 million.
It also says Vietnam is one of its nine key
markets where Ex-Im Bank is focusing its business-development efforts because
of the country’s infrastructure and development needs. The others are Brazil,
Colombia, Mexico, Turkey, South Africa, Nigeria, India, and Indonesia.
Asia is Ex-Im Bank’s largest regional market,
the lender adds.
SGGP
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment