Vietnam receives assistance from IFC and Australia in raising $300 million for the private sector

The cooperation will support Vietnam's efforts to maintain inclusive and environmentally friendly growth while addressing requirements brought on by the COVID-19 epidemic.

The new A$15 million Australian-Australian Private Sector Development Partnership between IFC and Australia will promote a transparent, predictable, practical, and less expensive way for both women and men in Vietnam to conduct business. Its goal is to create inclusive and sustainable private investment opportunities.

Among the areas of development are legal and regulatory change, the promotion of inclusive and sustainable business practices, expanded banking for women-owned enterprises, and climate-friendly solutions. areas that this program prioritizes. Implementation of the first six projects, totaling AUD 5.7 million ($3.8 million), has been approved.

The IFC-Australia partnership program will work with Vietnam's public and private partners over the course of the next five years to mobilize the private capital required to achieve priority development and development goals, particularly in key growth industries like infrastructure, agriculture, manufacturing, and tourism.