In Hanoi:
Thanh Ha
Tel: 844 934 2282
Email: dkhanna@ifc.org


Hanoi, Vietnam, October 22, 2003—Mr. Michael Klein, Vice President, Private Sector Development of the World Bank and the International Finance Corporation, and Chief Economist of IFC, will visit Vietnam October 27 - 29, 2003. He plans to consult with senior government and industry leaders on ways to improve the private sector investment environment in Vietnam. One important focus of discussion will be how better infrastructure can enhance the competitiveness of Vietnam, and how IFC can support infrastructure development. The visit underlines the importance and continuing commitment that IFC attaches to its work in Vietnam.

During this trip, Mr. Klein will provide a detailed summary of Doing Business in 2004, with specific reference to Vietnam’s competitiveness in the context of this study. Doing Business was prepared by the World Bank Group to provide benchmarks on the regulatory costs of doing business in over 130 countries, including Vietnam. Mr. Klein will also meet with private sector and financial institution representatives, and members of the Vietnam Business Forum, to encourage long-term investments.

The following event during Mr. Michael Klein’s visit is open to the press.

Event:                Vietnam launch of Doing Business in 2004
Date:                Wednesday, Oct 29, 2003
Time:                4:00 pm - 5:00 pm
Location:          Press Club, 59 Ly Thai To, Hanoi

The mission of IFC is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people's lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses. From its founding in 1956 through FY03, IFC has committed more than $37 billion of its own funds and arranged $22 billion in syndications for 2,990 companies in 140 developing countries. IFC's worldwide committed portfolio as of FY03 was $16.7 billion for its own account and $6.6 billion held for participants in loan syndications.

Please confirm your attendance to the press event with Ms. Thanh Ha, tel. (04)  9342282 or Ms. Thuy Huong, mobile phone 0903445760, e-mail phuong@ifc.org.