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‘IFC will directly buy Vietnam’s bad debt’

'IFC will directly buy Vietnam's bad debt' 3

‘IFC will directly buy Vietnam’s bad debt’

During a business trip to Vietnam, Mr. Sergio Pimenta, Director of the International Financial Institution IFC in East Asia and the Pacific once again affirmed that banking is an area that this organization is very interested in investing in.

– How does IFC evaluate Vietnam’s steps to handle bad debt as well as the prospects of Vietnam Asset Management Company (VAMC)?

– VAMC is also newly established so it is too early for me to comment on its handling approach.

Director of IFC East Asia – Pacific region highly appreciated Vietnam’s efforts to handle bad debt.

However, in my opinion it is important to deal with debt quickly and with final results.

– Recently, during business trips to Vietnam, IFC leaders pledged to prioritize support in handling bad debt.

– In fact, this is an area that IFC pays great attention to because it has a huge impact on the Vietnamese economy.

As for IFC’s role, we have the ability and desire to participate in all three capacities.

– IFC has invested in a number of banks such as Vietinbank and ABBank of Vietnam.

– As a private investment arm of the World Bank, IFC has always been interested in what is private.

Talking about the product perspective, we will advise and improve management capacity to help banks have effective credit processes.

– How do you assess the burden of State-owned enterprises with the process of restructuring the banking system in Vietnam?

– To be fair, Vietnam’s bad debt problem comes from two sources, including state-owned and private enterprises.

In addition, it is also necessary to continue solving the problems of state-owned enterprises to avoid new bad debts.

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