IFC, Vietnam govt hold talks

IFC, Vietnam govt hold talks

HANOI: A senior official from the International Finance Corporation is in Vietnam for talks with the government and industry leaders on drumming up foreign investment, the organization said on Monday.

Assaad Jabre, IFC vice president of operations, will also discuss ways to improve the investment environment for the private sector in the communist nation during his Aug. 24-28 visit to Hanoi and Ho Chi Minh City.

"The visit underlines the importance and continuing commitment that IFC, the private sector arm of the World Bank Group, attaches to its work in Vietnam," it said in a statement.

Jabre will be accompanied by other IFC officials including Javed Hamid, East Asia and the Pacific director and Stoyan Tenev, lead economist for the region.

Last year pledged foreign direct investment into Vietnam plummeted 41.1 percent compared with the previous year to US$1.33 billion. In the first three months of the year it slumped 32.3 percent to $178.6 million. -- AFP