MoF and JICA discuss expanded development cooperation

Detailed summary

On November 10, as part of the official visit to Japan by Party General Secretary and State President To Lam, Minister of Finance Ngo Van Tuan and a delegation from the Ministry of Finance held bilateral talks with Tanaka Akihiko, president of the Japan International Cooperation Agency.

This marked the second high-level meeting in 2026 between the leadership of Vietnam's MoF and the Japan International Cooperation Agency (JICA), demonstrating political commitment to elevating financial and economic development cooperation between the two countries.

Minister Ngo Van Tuan outlined Vietnam's goals of becoming a developing country with modern industry and upper-middle-income status by 2030, and a developed, high-income country by 2045.

To achieve these targets, Vietnam's investment capital requirements for 2026-2030 are expected to be more than 2.2 times those of 2021-2025. Against this backdrop, the minister called on the Japanese government, through JICA, to continue providing financial support for Vietnam's essential infrastructure projects.

Minister Tuan also briefed JICA on the positive results Vietnam had achieved in streamlining its organisational structure and accelerating decentralisation and delegation of authority, accompanied by greater accountability among agencies and local authorities.

Reviewing cooperation over the past six months, since JICA president Tanaka Akihiko's visit to Vietnam in June, the minister and the JICA president acknowledged positive progress in boosting official development assistance (ODA) cooperation, particularly the effectiveness of the tripartite task force comprising the MoF, the Embassy of Japan, and JICA in Vietnam.

Through this coordination mechanism, a number of obstacles affecting the implementation of Japanese ODA-funded projects have gradually been addressed. These include Ho Chi Minh City's Urban Railway Line No.1 and projects supplying equipment financed by Japanese grant aid.

Negotiations and the signing of loan and grant agreements for new programmes and projects have also delivered positive results.

Three important ODA documents: the Exchange of Notes for the Vietnam Japan University Project, the Loan Agreement for the O Mon 3 Thermal Power Plant Project, and the Agreement to Facilitate Japanese Grant Aid…

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