The Japan Bank for International Cooperation (JBIC) has reinforced its dedication to fostering Vietnam’s long-term economic growth, focusing on significant infrastructure, energy, and technological projects. During a meeting on Thursday with Vietnamese Prime Minister Lê Minh Hưng, JBIC Governor Maeda Tadashi reaffirmed the bank’s commitment to advancing 15 projects under the Asia Zero Emission Community (AZEC) initiative. These projects represent a substantial investment of around $20 billion. Additionally, Maeda pledged ongoing support for energy endeavors under the Partnership for Energy Resilience and Resource Asia (POWERR Asia) initiative.
Prime Minister Hưng expressed appreciation for JBIC’s enduring collaboration and acknowledged its financial backing of Japanese-initiated projects in Vietnam. He remarked on the enhanced Vietnam-Japan relations since the two nations elevated their interaction to a Comprehensive Strategic Partnership nearly three years ago. Hưng noted the expansion of cooperation into emerging sectors such as semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space development.
The prime minister emphasized the potential for deeper bilateral cooperation and encouraged JBIC to increase its role in mobilizing investment for critical infrastructure and industrial growth. He proposed that JBIC establish mechanisms for financing and investment guarantees to support industrial clusters, innovation hubs, and high-tech manufacturing in Vietnam. Hưng also urged an expansion of JBIC’s support for public-private partnership projects, mergers and acquisitions, and technology transfer, while advocating for more Japanese investment in sectors like semiconductors, AI, batteries, advanced materials, critical minerals, and other high-tech industries.
In response, Maeda expressed strong alignment with Vietnam’s developmental priorities and agreed with the proposals discussed. He noted that Japan remains Vietnam’s largest source of official development assistance, while emphasizing the growing importance of private-sector investment in sustaining economic growth. Highlighting JBIC’s expertise with public-private partnerships, Maeda stated the bank’s readiness to enhance cooperation in securing international financing and supporting long-term development strategies.
Looking towards the future, JBIC plans to continue its collaboration with Vietnam on remaining AZEC projects and support initiatives in power, oil, and gas to bolster Vietnam’s energy security. Maeda also shared that the bank is fostering partnerships with third countries to bolster Vietnam’s semiconductor supply chains, AI ecosystem, and data center infrastructure. Additionally, JBIC is aiding Vietnamese startups through venture capital efforts and exploring collaborations on the Vietnam International Financial Centre and broader cultural exchange programs, signaling the deepening Vietnam-Japan economic partnership.