JBIC prioritizes partnership with Vietnam

Vietnam remains a key partner for the Japan Bank for International Cooperation (JBIC) and would further strengthen the cooperation in the coming time, JBIC’s Regional Head for Asia & Pacific Matsuda Noriyasu said at a meeting with local officials during his visit to Vietnam this week.

JBIC delegate in a meeting with the CMSC. Source: VGP

At talks, Vice Chairman of the Commission for Management of State Capital at Enterprises (CMSC) Nguyen Ngoc Canh highlighted the contribution of the Japanese bank to Vietnam’s development, including the cooperation program in the energy transition.

According to Canh, 304 projects financed by JBIC in the fields of energy and supply chain development have been effective and have contributed to the ongoing efforts to promote green growth in Vietnam.

Noriyasu said JBIC has been active in supporting Vietnam’s energy transition and infrastructure development via the public-private partnership (PPP); enhancing the resilience of the supply chain and addressing social issues.

To further facilitate the energy transition process in Vietnam, JBIC has been conducting policy dialogues with Vietnamese agencies.

During Prime Minister Pham Minh Chinh’s visit to Japan last November, CMSC signed a memorandum of understandings (MOUs) with JBIC, in which the latter would provide financial support for investment projects of the Electricity of Vietnam (EVN) and PetroVietnam in the oil and electricity industries.

Noriyasu expected the cooperation between JBIC and CMSC would go on so as to realize these MoUs in the interests of Vietnam and Japan.

BIC’s Regional Head for Asia & Pacific Matsuda Noriyasu and MPI Vice Minister Nguyen Thi Bich Ngoc.

Noriyasu also had a meeting with the Vice Minister of Planning and Investment (MPI) Nguyen Thi Bich Ngoc.

At talks, Ngoc thanked JBIC for its support in renewable and climate change projects, noting that the bank’s global approach and focus on infrastructure investment are in line with the country’s vision for development.

Ngoc noted that Vietnam-Japan relations have been progressing strongly over the years, reflected through the exchange of visits by the prime ministers of the two countries.

“Vietnam seeks Japan’s support in socio-economic development,” Ngoc added.

In this context, Ngoc called for JBIC to continue supporting Vietnam in specific projects for sustainable development and help the country realize its commitment to achieving net-zero carbon emissions by 2050.

“The MPI is committed to further improving Vietnam’s business environment and addressing concerns of foreign businesses in Vietnam,” Ngoc said.

She noted the ministry would work with the Japan-Vietnam Economic Committee under the Japan Business Federation (Keidanren) to advance the 8th phase of the Vietnam-Japan joint initiative, ensuring that Japanese companies' investments in Vietnam are effective and mutually beneficial.

JBIC, an institution wholly controlled by the Japanese Government, is a leading public financial institution in the international financial market with total assets of US$144 billion.