The Japan Bank for International Cooperation (JBIC) has reinforced its dedication to fostering Vietnam’s economic growth, with a focus on key areas such as infrastructure, energy, and technology. During a recent discussion with Vietnamese Prime Minister Lê Minh Hưng, JBIC Governor Maeda Tadashi emphasized the bank’s ongoing commitment to 15 projects under the Asia Zero Emission Community (AZEC) initiative, with a total investment of around $20 billion. Maeda also promised ongoing support for energy initiatives within the Partnership for Energy Resilience and Resource Asia (POWERR Asia) framework.
Prime Minister Hưng expressed appreciation for the enduring collaboration with JBIC, acknowledging its financial backing for projects supported by Japan in Vietnam. He noted the progress in Vietnam-Japan relations, which have strengthened since both nations upgraded their relationship to a Comprehensive Strategic Partnership nearly three years ago. Hưng pointed out that their cooperation now spans beyond conventional sectors, entering new domains like semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space exploration.
Highlighting the potential for deeper bilateral cooperation, Hưng urged JBIC to take a more active role in attracting investment for strategic infrastructure and industrial development. He proposed that the bank create financing and investment guarantee mechanisms to support industrial clusters, innovation hubs, and high-tech manufacturing facilities across the country. Additionally, he encouraged JBIC to enhance support for projects involving public-private partnerships, mergers and acquisitions, and technology transfer, while advocating for increased Japanese investment in high-tech industries such as semiconductors, AI, batteries, advanced materials, and critical minerals.
Maeda responded positively to Vietnam’s development goals, aligning with the proposals shared during the meeting. He highlighted that Japan continues to be the largest provider of official development assistance to Vietnam, but noted that private-sector investment is becoming increasingly crucial for sustaining economic growth. Drawing on JBIC’s experience with public-private partnerships, Maeda stated that the bank is ready to bolster cooperation to attract international financing and support long-term development plans.
JBIC aims to continue its collaboration with Vietnam to complete the remaining AZEC projects and support power, oil, and gas developments to enhance the nation’s energy security. Maeda also disclosed efforts to forge partnerships with other countries to develop Vietnam’s semiconductor supply chains, AI ecosystem, and data center infrastructure. Furthermore, JBIC is investing in Vietnamese startups through venture capital initiatives and exploring cooperation on the Vietnam International Financial Centre, along with broader cultural exchange programs, reflecting the deepening economic partnership between Vietnam and Japan.