Coal sector seeks foreign investment for development

Attracting foreign investment sources in a variety of forms is one of the Vietnam Coal and Mineral Industries Group (Vinacomin)’s top priorities as it seeks huge investment for future development.

Vinacomin said that it requires over 224 trillion VND (13.5 billion USD) for development between now and 2025, including 85.5 trillion VND 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 Quang Ninh province.

It will boost measures to attract official development assistance (ODA) and commercial loans as well as issue bonds abroad.

Besides mobilising foreign investment, Vinacomin will continue the equitisation of its affiliates and gradually increase participation in the domestic and foreign financial markets in order to attract the necessary investment.

VNA

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