Prime Minister Nguyen Xuan Phuc (R) receives OFID Director-General Suleiman Jasir Al-Herbish in Ha Noi on Tuesday. — VNA/VNS Photo Thong Nhat

Viet Nam welcomes technical support from the OPEC Fund for International Development (OFID) via official development assistance and preferential loans.

Prime Minister Nguyen Xuan Phuc made the remarks when talking about Viet Nam’s high demand for infrastructure development at a meeting with OFID Director-General Suleiman Jasir Al-Herbish in Ha Noi on Tuesday.

The PM lauded the signing of a US$21.8 million loan agreement between the Finance Ministry and OFID on Monday for the construction of Dam Vac Bridge in the northern province of Vinh Phuc. He noted that the two sides had implemented many effective joint projects in Viet Nam’s remote areas.

He asked the OFID to continue financing projects in Viet Nam, adding that the Government is willing to work with the fund in designing programmes in line with OFID funding criteria and the country’s growth strategy. Stressing that Viet Nam wants to develop the private sector, the PM called on the OFID to create favourable conditions for the sector to access the fund’s capital. He suggested holding discussions on the matter and assigned the Finance Ministry to work on the cooperation.

For his part, Suleiman Jasir Al-Herbish said his current visit reflected the OFID’s willingness to expand co-operation with Viet Nam in any field at any time within its capacity. Noting that 2018 would mark 40 years of collaboration between the OFID and Viet Nam, he said the joint work had produced sound outcomes and revealed that the organisation was studying a number of projects in the country.

The OFID hoped the PM would direct relevant agencies to prepare all needed procedures for joint projects so that they could be signed right after being approved by the OFID executive board, he said. — VNS