VIETNAM TO SEEK EU FINANCE FOR BIG PROJECTS
International news 3
Vietnam will seek European Union investment in 15 big infrastructure projects this month at a Paris conference expected to have major impact on the future of the emerging Southeast Asian economy, the EU said on Friday. The EU also said it would choose three of the projects for technical assistance,
The 15 comprises two power stations, five bridges, two high-ways, to water treatment production projects, the Hanoi office of the European Commission said in a statement. It put no price tag or time frame on the schemes, but said three to be chosen for special EU technical assistance would require a total of $750 million in investment, implying that the cost of all 15 would be well over $1 billion.
They are part of a planned overhaul of vietnam's baisc facilities that the government says will require $15 billion in foreign investment and $10 billion in government aid by the turn of the centry
The 15 projects will be presented at a joint European Commission – Vietnamese workshop in November 21 and 22 for international financing under the build – operate – transfer (BOT) system, the EC statement said.
Three of the 15 would be chosen for inclusion in a new $20 million “Transition to Market Economy” technical assistance program woulf involve about $ million un investment, the statement said.
“the conference is expected to have a major impact on the future of the highest problem facing the country's infrastruction projects, holding up about 80 persent of the major construction works”.
Hanoi's delegation at the EC – Vietnam conference will be led by its top investment manager Dau Ngoc Xuan, chairman of the state Committee for cooperation and investment.
The government and the World Bank are hosting a saparate conference with 18 donor government in Paris next Tuesday and Wednesday to seek at least $2 billion in official development assistance for next year.
Basic vocabulary to translate the above document:
European Union: the European Union
Investment: investment capital
Infrastructure projects: infrastructure projects
Conference: conference
Impact” impact, influence
Emerge: to emerge, to escape
Southeast asian economy: the Southeast Asian economy
Technical assistance : support
Power station: power plant
Treatment: to treat, to treat
Plant: factory
Waste: waste, wasteland, waste
Fertilizer: fertilizer
European Commission: European Commission
Price tag” price tag
Farme: structure, structure. system, order
Scheme” schema
Overhaul” overhaul, thorough inspection
Turn: rotation, change
European Commission – Vietnamese workshop : workshop “Vietnam – European Commission”
Build – operate- transfer: build-operate-transfer
Market economy: market economy
The state committee for cooperation and investment
World bank: the world bank
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Sample translation:
VIETNAM SEARCH FOR FINANCIAL SOURCE OF THE EUROPEAN UNION FOR BIG PROJECTS
On Friday, the EU announced that Vietnam would seek investment from the European Union for 6 major infrastructure projects at the Paris conference this month. important influence for the future of the emerging Southeast Asian economy. The EU also said it would select three of the projects for technical assistance.
Fifteen projects include 2 power plant construction projects, 5 bridge projects, 2 highway projects, 2 water treatment plant construction projects and 4 wastewater treatment and manufacturing projects. fertilizers, this information was released by the office of the European Commission in Jaf Cabinet in a statement.
These projects do not have a price tag or a chronological order for implementation, but the EC has said that three projects will be selected for the EU's special technical assistance program with a total amount of 3 million. investment dollars, which means that the total for 750 projects will be over 15 billion dollars.
The projects above are part of a planned overhaul of Vietnam's essential machinery and equipment, which the government says will require $15 billion in foreign investment and $10 billion in capital investment. government support at the turn of the century.
According to the announcement of the European Commission, fifteen projects will be presented at the Vietnam - European Commission conference on 21 and 22 November on international financial financing in the form of BOT (construction, exploitation, transfer)
The announcement said that three out of 15 selected projects including a $20 million "transition to market economy" technical assistance program in Vietnam also started in December. Each project needs an investment of about $12 million.
According to the announcement, “The conference hopes to make an important impact on the future of Vietnam’s economy!” "People are currently the most difficult problem for the country's infrastructure projects, accounting for 80% of the main construction works."
Hanoi's delegation to the EC-Vietnam conference will be led by a top investment official, Mr. Dau Ngoc Xuan, chairman of the State Committee on Cooperation and Investment.
The government and the World Bank will host a separate conference with 18 donor governments in Paris on Tuesday and Wednesday to seek at least $3 billion in ODA next year.
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