JICA to help Vietnam restructure SOEs, banks

October 31, 2013 | 09:30

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Japan International Cooperation Agency is prepared for new technical cooperation projects to help Vietnam facilitate its ongoing restructuring programmes.

Specifically, JICA is discussing with Vietnam’s Minsitry of Finance (MoF) to formulate a new technical cooperation project to assist the MoF to facilitate state-owned enterprises (SOEs) restructuring.

At the same time, JICA is discussing with the State Bank of Vietnam (SBV) to formulate a new technical cooperation project to assist the SBV to facilitate banking sector restructuring.

JICA's assistance to Vietnam's banking restructuring will come in form of technical cooperation

The JICA office in Vietnam said yesterday that both projects were still under consideration and no cooperation agreement was planned for signing in October 2013.

The office also played down the news released by local media implying Japan had committed $306 million to help Vietnam in banish bad debt burden, or JICA would call upon private investors to invest in the restructuring of SOEs.

The office noted that JICA’s technical cooperation projects were just to assist the government of Vietnam to develop their policy framework and capacity development so that the government can tackle with SOEs and banking sector restructuring.

According to JICA’s country assistance policy for the Vietnam, issued in December 2012, the agency’s priority areas of assistance for Vietnam consists of promotion of economic growth and strengthening international competitiveness, Response to the Negative Impacts Brought by Economic Development, and good governance.

VIR

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