HCMC, Sep 13, 2012. The HCMC government and Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding to establish a joint venture which will invest in infrastructure projects in HCMC.
Under the memorandum, JBIC and HCMC Finance and Investment State-owned Company (HFIC) will set up a financial joint venture to mobilize capital sources for infrastructure projects in the city such as metro lines and elevated roads.
At the signing ceremony, HCMC chairman Le Hoang Quan said infrastructure development would be a top priority of the city in the coming years. The city is in dire need of capital for its metro line projects that are being carried out, he added.