9:04:12 AM | 20/10/2008
The Vietnam Coal and Mineral Industries Group (Vinacomin) is seeking cash from foreign partners to invest into projects, part of its top priorities in the near future, Vietnam News Agency reported.
Vinacomin said that it needs over VND224 trillion VND (US$13.57 billion) for development between now and 2025, including VND85.5 trillion for the initial 2008-2015 phase.
To ensure development investment, the group will give priority to foreign businesses who invest in coal exploration and exploitation projects in the Red River Delta, particularly in coal-rich northern Quang Ninh province.
It will boost measures to attract official development assistance (ODA) and commercial loans as well as issue bonds abroad.
Besides mobilizing foreign investment, Vinacomin will continue the privatization of its affiliates and gradually increase participation in the domestic and foreign financial markets in order to attract the necessary investment. (VNA)
Vietnamese
