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On June 23rd, 2019, The Export-Import Bank of Korea signed an agreement with PetroVietnam, the state-owned petroleum company of Viet Nam, specifically a 'framework agreement' to the value of USD 2bn.
The agreement is aimed at resolving 'financing difficulties' in order to further Korean firms' rate of winning tender on large infrastructure projects within Viet Nam.
At the signing ceremony, a Korean Eximbank official stated that the agreement 'created a very favourable environment for Korean companies to receive large-scale projects', tender for which had come to USD 7.5bn in the most recent six months alone.
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