US, Japan and Australia to form supply chains in Vietnam

The governments of the US, Japan and Australia are taking steps to invest in the development of infrastructure and form supply chains in Vietnam, according to Nguyen Van Binh, head of the Party Central Committee’s Economic Commission.

Head of the Party Central Committee’s Economic Commission Nguyen Van Binh at the online meeting. Photo: VGP.

Vietnam expects economic cooperation to become a major pillar in the country’s relations with the three countries on the basis of equality and mutual benefit, stated Mr. Binh in an online meeting with leaders of the Japan Bank for International Cooperation (JBIC), the US International Development Finance Corporation (DFC), and the Export Finance Australia (EFA) on October 30.

Vietnam attaches importance to its cooperation with the US, Japan and Australia, especially as the relations are growing strongly and contributing actively to ensuring peace, stability and prosperity in the region.

Leaders of financial institutions attended the online meeting. Photo: VGP.

According to Mr. Binh, Vietnam remains steadfast in perfecting the legal framework and the business environment to attract investment capital from the private sector and abroad in infrastructure development.

Vietnam is willing to create favorable conditions for enterprises with high credibility and technological capabilities from the US, Japan and Australia to invest in high quality and sustainable infrastructure projects in the country, he noted.

Mr. Binh expected JBIC, DFC and EFA to continue providing financial support for major infrastructure projects and the development of supply chains in Vietnam, as well as serving as bridges between Vietnamese enterprises and those in the three countries in these fields.

Overview of the online meeting from Hanoi. Photo: VGP.

At the meeting, leading officials from the three financial institutions expressed their strong commitment to further cooperation with Vietnam in the infrastructure and energy fields.

Representatives of JBIC, DFC and EFA also suggested Vietnam continue finalizing pieces of legislation related to the public-private partnership (PPP) to help foreign investors, especially those from the US, Japan and Australia, to take part in infrastructure and energy projects, as well as form supply chains in the country.