The Japan Bank for International Cooperation (JBIC) has reiterated its support for Vietnam’s economic growth, emphasizing its focus on infrastructure, energy, and technological advancement. In a recent meeting with Vietnamese Prime Minister Lê Minh Hưng, JBIC Governor Maeda Tadashi confirmed the bank’s commitment to continuing 15 projects under the Asia Zero Emission Community (AZEC) initiative, with a total investment nearing $20 billion. Additionally, Maeda assured ongoing assistance for energy initiatives through the Partnership for Energy Resilience and Resource Asia (POWERR Asia) program.
Prime Minister Hưng expressed gratitude for JBIC’s enduring collaboration and acknowledged the financial contributions to Japan-led projects in Vietnam. He noted the evolution of Vietnam-Japan relations since the two nations upgraded their ties to a Comprehensive Strategic Partnership around three years ago. Hưng pointed out that cooperation has broadened into new areas like semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space exploration.
The prime minister emphasized the potential for deeper bilateral ties and urged JBIC to enhance its role in attracting investment for Vietnam’s strategic infrastructure and industrial growth. He suggested the establishment of financing and investment guarantee frameworks to support industrial hubs, innovation centers, and advanced manufacturing in Vietnam. Moreover, Hưng called for expanded JBIC support for public-private partnerships, mergers and acquisitions, and technology transfer, as well as increased Japanese investment in high-tech sectors such as semiconductors, AI, batteries, advanced materials, and critical minerals.
Governor Maeda echoed support for Vietnam’s development goals and positively responded to the proposals discussed. He highlighted Japan’s status as Vietnam’s largest source of official development assistance and acknowledged the growing significance of private-sector investment in sustaining economic progress. Maeda remarked that JBIC, leveraging its expertise in public-private partnerships, is ready to bolster cooperation in securing international finance and supporting long-term development plans.
Looking forward, JBIC plans to collaborate with Vietnam in completing the remaining AZEC projects and supporting energy developments in power, oil, and gas to enhance the country’s energy security. Maeda disclosed the bank’s efforts to foster partnerships with third countries to advance Vietnam’s semiconductor supply chains, AI infrastructure, and data centers. Additionally, JBIC is investing in Vietnamese startups through venture capital and exploring joint efforts on the Vietnam International Financial Centre and broader cultural exchange initiatives, showcasing the growing depth of the Vietnam-Japan economic partnership.