Vietnam and JBIC discuss energy transition and investment cooperation

Detailed summary

On November 10, as part of a working visit to Japan, a delegation from Vietnam's Ministry of Finance led by Minister Ngo Van Tuan, held bilateral talks with senior leaders of the Japan Bank for International Cooperation.

Minister Tuan expressed his pleasure at meeting again with JBIC chairman Maeda Tadashi and the bank's leadership following their visit to Hanoi in October.

He noted that the meeting was significant as Vietnam-Japan relations continue to flourish under the Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World. Looking back on the history of bilateral cooperation, the minister acknowledged and appreciated JBIC's longstanding contributions to Vietnam's socioeconomic development.

At the meeting, the two sides discussed energy transition trends and joint efforts to address climate change. The MoF spoke highly of the proactive role played by the Japanese government and JBIC in encouraging the Asia Zero Emission Community and the Partnership for Strengthening Energy and Resource Resilience in Asia.

Amid ongoing volatility in global supply chains, these initiatives are of practical significance in strengthening economies' adaptability and resilience. The minister called on JBIC to continue working closely with Vietnamese agencies and Japanese partners to design flexible financial mechanisms that are consistent with Vietnamese laws and practical conditions, thereby facilitating breakthrough infrastructure and energy projects with far-reaching impacts in Vietnam.

Minister Tuan said Vietnam was entering a pivotal stage of development, with ambitions to achieve high economic growth during 2026-2030. This will create substantial demand for long-term capital to invest in the development of a synchronised and modern infrastructure system.

Accordingly, the Vietnamese government has identified domestic capital market development as a priority that must go hand in hand with expanding access to funding from international financial markets.

Minister Tuan said the MoF valued JBIC's position as a leading international financial institution and hoped the bank would continue to support Vietnam by sharing international best practices and helping the country develop a…

Opening of the article, excerpted from Vietnam Investment Review. To read the rest, open the article on the publisher's site.