Strengthening cooperation between CMSC and JBIC
25/11/2021
CMSC Commission for Management of State Capital at Enterprises signs a Memorandum of Understanding (MOU) with Japan Bank for International Cooperation (JBIC) for realization of financial support in the power and oil and gas sectors as well as promotion of energy transitions in Vietnam.
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| Prime Minister Pham Minh Chinh and Prime Minister Kishida Fumio witness the exchange of MOU between CMSC and JBIC |
On November 24, 2021, the Commission for Management of State Capital at Enterprises (the CMSC) signed a Memorandum of Understanding (MOU) with Japan Bank for International Cooperation (JBIC) for the purpose of promoting cooperation for the realization of JBIC’s financial support to proposed investment projects by Electricity of Vietnam (EVN) and Vietnam Oil and Gas Group (PVN) in the power and oil and gas sectors in Viet Nam. The signed documents were exchanged in the presence of Vietnamese Prime Minister Pham Minh Chinh and Japanese Prime Minister Kishida Fumio on the occasion of Vietnamese Prime Minister Pham Minh Chinh's official visit to Japan.
The MOU aims to further enhance and consolidate the cooperation between the CMSC and JBIC on: (1) establishing a framework for dialogue and information exchange in the power sector and oil and gas sector; (2) the possibility of JBIC providing financial support to EVN and PVN for promotion of investment projects of in the power sector and oil and gas sector in Viet Nam.
At the same time, this MOU will support the expansion of business opportunities by Japanese companies in these sectors as well as the promotion of energy transitions in Vietnam.
