Vietnam needs about US$15-16 billion per year to develop infrastructure to 2020, said Deputy Minister of Finance Truong Chi Trung.
He made this remark at a dialogue between Vietnam’s ministries and sectors and the Asia-Pacific Infrastructure Partnership (APIP) on financial mobilization to develop infrastructure in Vietnam , which was chaired by Ministry of Finance on July 20 in Hanoi.
The Deputy Minister said with one of the highest growth rates in the region, Vietnam has a great demand for infrastructure development. In the context of limited public investment, the Government gives priority to attracting financial investment from private sector for infrastructure.
Earlier, in 2010, the Prime Minister issued Decision 71 on the pilot implementation of investment in the form of public-private partnership. The model is expected to mobilize more capital, making remarkable contribution to developing infrastructure in the coming times.
However, there remains difficulties in drawing capital from the private sector. Experts attributed this to the under-developed financial market and tools, as well as Government agencies’ limited management capacity.
Experts from Vietnamese ministries, sectors and the APIP took the occasion to point out obstacles in diversifying financial resources in Vietnam, as well as discuss international experience in building and operating financial tools to supply capital for infrastructure development projects in the country.