Ho Chi Minh City hopes that the International Finance Corporation (IFC) will continue to help the city deal with challenges in urban transport, infrastructure construction and waste treatment, thus ensuring sustainable development, a local official said on August 12.
Nguyen Thien Nhan (R), Secretary of the HCM City Party Committeethe, and IFC’s CEO Philippe Houerou (Photo: VNA)
HCM City (VNA) – Ho Chi MinhCity hopes that the International Finance Corporation (IFC) will continue tohelp the city deal with challenges in urban transport, infrastructureconstruction and waste treatment, thus ensuring sustainable development, alocal official said on August 12.
At a reception for the IFC’s CEO Philippe Houerou in HCM City, Nguyen ThienNhan, Secretary of the municipal Party Committee, said the southern metropoliswill further coordination with the corporation to implement projects, aiming toimprove living standards of locals.
He said amidst the rapidly increasing population and semi-permanent housesmaking up only about 60 percent of houses in the city, the housing sector willcreate big opportunities for construction contractors.
For his part, Philippe Houerou rejoiced at cooperation between the two sides,stressing that the IFC stands ready to join hands with HCM City to settledifficulties in urban development such as smart transport system building andgreen energy development.
The IFC will firstly cooperate with the city in implementing a credit ratingproject and expand projects under the public-private partnership (PPP) model,he said.
IFC leaders will always accompany HCM City in smart urban development andbelieve that the city will become a model in the region and the world in thisregard, the official noted.
The IFC is willing to partner with HCM City to address issues regarding thebuilding of environmentally-friendly houses, urban transport development andthe transformation of waste into energy, he said.
IFC—a sister organization of the World Bank andmember of the World Bank Group—is the largest global development institution focusedon the private sector in developing countries. It has operated in Vietnamsince 1992.-VNA
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The festival highlighted the contributions and robust development of Vietnam's revolutionary press over the past century while promoting press products and showcasing the creativity of Vietnamese journalists.
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The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
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The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
Nguyen Thien Nhan (R), Secretary of the HCM City Party Committeethe, and IFC’s CEO Philippe Houerou (Photo: VNA) 
