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Hanoi/Washington, D.C., August 22, 2003
—Mr. Assaad Jabre, vice president, operations for the International Finance Corporation will visit Vietnam August 24-28, 2003. Mr. Jabre will consult with senior government and industry leaders to discuss ways to improve the investment environment for the private sector in Vietnam, particularly with respect to small and medium enterprises, and ways to attract more foreign direct investment to the country. The visit underlines the importance and continuing commitment that IFC, the private sector arm of the World Bank Group, attaches to its work in Vietnam.
Mr. Jabre will be accompanied by Mr. Javed Hamid, IFC director for East Asia and the Pacific; Mr. Azmat Taufique, regional manager; Mr. Deepak Khanna, Vietnam country manager; Mr. Mario Fischel, general manager of the Mekong Private Sector Development Facility; and Mr. Stoyan Tenev, IFC lead economist for East Asia and the Pacific.
During this trip, Mr. Jabre is expected to sign a memorandum of understanding with the government of Canada, which is pledging $300,000 to support the activity of the Vietnam Business Forum (http://www.vietnambusinessforum.org). During visits with business and government leaders, Mr. Jabre will have the opportunity to discuss the business environment in the context of a forthcoming study from IFC, the Mekong Private Sector Development Facility, and the World Bank. The study explores the extent of informality in the Vietnamese economy and its impact on the development of the private sector at large. It will be publicly released at the conclusion of the trip on Thursday, August 28, at a press briefing in Hanoi.
The mission of IFC is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people's lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses. From its founding in 1956 through FY02, IFC has committed more than $34 billion of its own funds and arranged $21 billion in syndications for 2,825 companies in 140 developing countries. IFC's worldwide committed portfolio as of FY02 was $15.1 billion for its own account and $6.5 billion held for participants in loan syndications.
NOTE TO EDITORS: A press briefing will be held in Hanoi on August 28, 2003, at 4:15 pm. For details please call Ms. Thuy Huong Phan, IFC Hanoi office, tel: 84-4-934-2282, email:
phuong@ifc.org
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