The signing ceremony was held at the Government Guest House in the afternoon of September 5th. The document exchange ceremonytook place in the morning of September 6th, beheld by President Tran Dai Quang of Vietnam and President Francois Hollande of France at the Presidential Palace, during the visit to Vietnam of the French President.

The MOU on the Cooperation agreement includes 3 main components: (i) The Parties will cooperate with each other to research, develop and propose mechanisms to the authorized State agencies of Viet Nam, so that VEC can implement the concessions of the operating expressway projects presently managed by VEC and so that VINCI Concessions can become the concessionaire of such projects in compliance with international common practices and laws of Viet Nam; (ii) The Parties will cooperate with each other to exchange experiences and consider opportunities for collaboration on transferring new technologies, management, operation and maintenance of the expressways; (iii) The Parties will cooperate with each other to research, develop and propose mechanisms to the authorized State agencies of Viet Nam so that VEC can cooperate with VINCI Concessions on investment in the new expressway projects in Viet Nam.

This MOU contains the understanding and rules for the Parties’ collaborative research and implementation. The implementation of the specific contents of this MOU has to comply with the laws of Viet Nam.

VEC expects the cooperation with Vinci, as well as other partners in the future, will be the leverage to accomplish the goal ofputting into operation 1,000km of expressway by 2020; to apply scientific and technological advances in order to improve project quality, reduce costs, shorten schedule, improve socio-economic efficiency in transport sector and contribute to the goals of industrialization and modernization of the country.

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