Vietnam looks to attract Saudi funds for infrastructure

Viet Nam is seeking to attract more investors from Saudi Arabiato participate in new transport infrastructure projects, especially in seaports, airports, highways and railways, said Finance Minister Vương Đình Huệ.

Huệ made the statement while welcoming Vice President and Managing Director of the Saudi Fund for Development Yousef Ibrahim Al-Bassam in Hà Nội yesterday.

Huệ said he highly valued the visit by Al-Bassam and his entourage to Viet Nam.

He saidViet Namwas looking to develop its infrastructure and needed a great deal of capital.

He said he hoped that the Saudi Fund for Development would agree to increase the number and scale of loan projects to Viet Nam.

Al-Bassam expressed his pleasure at the signing of two agreements on social welfare projects withViet Nam and said a group of Saudi Arabian experts would visit the country to discuss new education and rural development projects.

Last Tuesday, the Finance Ministry signed loan agreements with the Saudi Fund for Development on a $US14.5 million project to equip a hospital and medical training centre in northern Bắc Kạn Province and an $11 million project to provide facilities for vocational training in the central province of Ninh Thuận.

Source: VNS

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