The Prime Minister directed JBIC to concentrate on policy consultation, capital, and technology

Prime Minister Pham Minh Chinh met with Mr Maeda Tadashi, Chairman of the Board of Directors of the Japan Bank for International Cooperation, on July 22 (JBIC).

Speaking at the meeting, Prime Minister Pham Minh Chinh praised JBIC's active and effective cooperation in providing many loans, particularly for the development of major infrastructure projects and large-scale projects in Vietnam.

The Prime Minister affirmed Vietnam will always regard Japan as an important and long-term strategic partner, assisting Japan in making positive contributions to regional peace, cooperation, and development, as world relations between the two countries enter a new stage of development toward the 50th anniversary of diplomatic relations in 2023.

Vietnamese Prime Minister expressed his satisfaction with the relationship "Intensive strategic partnership between Vietnam and Japan for peace and prosperity in Asia" is in a period of strong and comprehensive development, with cooperation and cooperation between the two countries having high political credibility.

Japan is Vietnam's major economic cooperation partner, the number one bilateral ODA contributor, the second labour cooperation partner, the third investor, and the fourth trade partner.

In the spirit of "emotional, sincere, dependable, and effective," Prime Minister proposed Japan and JBIC continue to actively advise and advise on policies with the Japanese Government and National Assembly; continue to discuss and coordinate closely with Vietnamese agencies to find out more effective cooperation methods, and further develop the Vietnam-Japan extensive strategic partnership in the new period.

Prime Minister Pham Minh Chinh emphasized he has asked Japan and JBIC to assist Vietnam in developing a fast-growing, sustainable, larger-scale economy with increasing independence and autonomy associated with being active and proactive, deep, substantive, and effective international integration; committing to achieve net zero emissions by 2050 through existing cooperation mechanisms; and exchanging and effectively implementing the Initiative to build a net-zero emission community.

Prime Minister stated while Vietnam is a developing country, it is committed to meeting the net zero emissions target by 2050, as are developed countries, thus requiring a climate change adaptation approach to ensure fairness, justice, and appropriate conditions and circumstances for each country. 

Prime Minister asked JBIC to focus on policy consultations, capital sources, technology, human resources, and management experience for Vietnam to develop an energy conversion and renewable energy industry, particularly on supporting Vietnam to improve manufacturing capacity and equipment production in the fields of solar power and wind power, where Vietnam has great potential, with specific plans and projects.

The Prime Minister also suggested Japan and JBIC promote the new-generation ODA cooperation program that he and Prime Minister Pham Minh Chinh talked about during Prime Minister Pham Minh Chinh's official visit to Japan in November 2021 and Prime Minister Kishida's recent official visit to Vietnam; assisting Vietnam in the implementation of strategic infrastructure projects, particularly transportation infrastructure (including high-speed road projects being promoted throughout the country and research and development of North-South high-speed railways with high-speed railway lines) can follow the spirit of doing it step by step, making it easier before it is difficult, doing it while learning from experience), climate change response infrastructure, digital transformation infrastructure, and improve medical capacity; promote innovation; training and improving the quality of human resources…

In addition, consulting and encouraging Japanese enterprises to actively participate in cooperation projects between the two countries in the aforementioned priority fields, investment transfer, and supply chain diversification in Vietnam prompted Japan to become the number one investor in Vietnam shortly.

The President of JBIC expressed his appreciation for Vietnam's efforts and results in the recent difficult context, with the implementation of many effective policies in epidemic prevention and control, economic stability and development, and he praised Vietnam's environmental commitments and actions.

The Chairman strongly agreed with Prime Minister Pham Minh Chinh's recommendations, gave many thoughts, solutions, and specific cooperation topics, and stated JBIC intends to work and stand beside Vietnam in many areas.

The Chairman confirmed Vietnam is one of Japan's two important ASEAN partners in executing cooperative strategies on climate change adaptation to fulfil the vision of building a zero-emission community in Asia via specific plans and initiatives.

Ha Van (Government Newspaper)