KOTRA Holds Multilateral Development Bank Event to Support Domestic Companies' Contract Wins

'MDB Project Plaza' to be held for two days starting from the 22nd

[Asia Economy Reporter Kim Pyeonghwa] The Korea Trade-Investment Promotion Agency (KOTRA) will hold the 'Multilateral Development Bank (MDB) Project Plaza' at the JW Marriott Hotel Seoul for two days starting on the 22nd of this month, in collaboration with the Ministry of Economy and Finance and the Ministry of Trade, Industry and Energy.

The MDB Project Plaza is an annual event aimed at supporting domestic companies to enter the MDB procurement market and secure promising projects. It also serves to promote the excellence of Korean companies to MDBs and client countries.

This year, as it is the first in-person event in three years since the spread of COVID-19, various programs such as the MDB Project Forum, Project Briefing Sessions, Overseas Construction Seminars, and Project and Financial Support Consultations will be held. In addition to seven MDBs, 18 client organizations, and about 100 domestic companies, officials from the Knowledge Sharing Program (KSP) and the Economic Innovation Partnership Program (EIPP) partner countries will participate to introduce related projects and strategies and conduct consultations.

The MDB Forum will be held under the theme of 'MDB Strategies for Sustainable Development Goals (SDGs).' The keynote speaker will be Kevin Kariuki, Vice President of the African Development Bank (AfDB). Jaime Diaz, Vice President of the Central American Bank for Economic Integration (CABEI), will introduce the significance and promotion strategy of establishing the CABEI Korea office. At the project briefing sessions, CABEI, AfDB, and the World Bank (WB) will each present their MDB pipeline projects.

At the overseas construction seminar, amid high exchange rates, high inflation, and high oil prices?the "three highs"?which increase global economic uncertainty, ways to expand the overseas advancement of domestic construction companies will be explored. At the project and financial support consultations, domestic companies in the engineering and construction sectors will conduct tailored one-on-one consultations with overseas MDB funds and KSP and EIPP partner countries. These consultations will focus on 29 projects worth $20.6 billion in transportation infrastructure, energy, and environmental sectors, with key interests including the Ho Chi Minh City subway project in Vietnam and the neighboring country connection project of the Egyptian National Railways.

Kim Yuntae, Vice President of KOTRA, said, “MDB projects have high transparency and stability, which attracts great interest from domestic companies. We will continue to discover projects by utilizing development cooperation projects and create new business opportunities through cooperation with MDBs to support the expansion of domestic companies’ overseas advancement.”

This content was produced with the assistance of AI translation services.