Extensive ferry project 

• Drawing up the financing strategy for ferry companies – choice between ‘soft’ loans (i.e. loans on favourable terms at below market interest rates) or a credit guarantee scheme. Recommendation in favour of ‘soft’ loans subsequently approved by the appropriate ministries (Ministries of Finance and Planning).
• Preparing proposals concerning the organisational placement and management of the ferry fund through DAF. Preparing proposals for procedures in regard to the application, assessment and approval of loans for ferries through the ferry fund. These proposals have subsequently been approved by the appropriate ministries as well as by the Prime Minister’s Office, to which DAF reports.
• Developing and arranging training courses for ferry companies on how to prepare loan applications, and including feasibility studies (profitability studies). Developing and arranging courses for the staff of DAF in assessing loan applications from ferry companies.

For all sub-projects, COWI has used the local consultancy firm Vietbid as its local subcontractor. Finance for Danish Industry A/S has also been subcontracted for part of the work.

At the outset, a Vietnamese consultant will oversee the ferry fund, which has officially existed since the beginning of the year and is to be fully handed over to the Vietnamese in the near future.

Published: 28.06.2004
By: Christina Tækker, cht@cowi.dk