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That's precisely why I think this is a money making scheme for rich officials and contractors in Hanoi, the amounts are too low to set off the state's corruption detectors, but the precedent still sets a bad example institutionally
Hanoi needs some serious infrastructure so I do agree the amounts should be higher but this is paranoid thinking
The country is poor and literally every facet of infrastructure could do with cash injection, there's hardly room for graft without pissing people off. They actually sentence people for it and NGOs aren't getting a free ride anymore.
The level of pessimism coming out here from people who don't even know how these cooperation agreements work is kind of disappointing.
French capital is not investing for the sake of Viet rail and the wild returns that would bring in
This is quid pro quo under the table deal making and graft, the French are purchasing access to something they think will make real money and definitely something they shouldn't have access to
It's not that complicated. French corporations build trains. If the state funds rail somewhere it's because they want these corporations to sell more trains.
The french corporations are not interested in selling trains, they're interested in making Profit ON selling trains, and the lack of profitability is blatantly clear in light of the low amounts they've invested in the form of loans
Selling trains to a public service state entity in Vietnam is not profitable in itself, the loan is a ticket purchase for access to Vietnamese resources or industries that are profitable when invested in
What the French are purchasing access to isn't specified publicly, but it sure as shit ain't access to build rail for working class Vietnamese in the form of sub-strandard inter-industry foreign loans