The Japan Bank for International Cooperation (JBIC) has reiterated its dedication to aiding Vietnam’s long-term economic growth, focusing on significant infrastructure, energy, and technology projects. During a meeting with Vietnamese Prime Minister Lê Minh Hưng on Thursday, JBIC Governor Maeda Tadashi confirmed the bank’s ongoing commitment to 15 projects under the Asia Zero Emission Community (AZEC) initiative, which collectively represent an investment of around $20 billion. He also assured continued support for energy projects through the Partnership for Energy Resilience and Resource Asia (POWERR Asia) initiative.
Prime Minister Hưng acknowledged JBIC’s longstanding partnership and commended its financial support for Japanese-backed initiatives in Vietnam. He noted the progress in Vietnam-Japan relations since the nations elevated their ties to a Comprehensive Strategic Partnership nearly three years ago. Cooperation between the two countries has expanded beyond traditional areas into sectors like semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space development.
The Vietnamese Prime Minister emphasized the potential to deepen bilateral cooperation further and urged JBIC to enhance its role in mobilizing investment for strategic infrastructure and industrial development. He called for the establishment of financing and investment guarantee mechanisms to support industrial clusters, innovation centers, and high-tech manufacturing sites across Vietnam. Moreover, Hưng encouraged JBIC to broaden its support for projects involving public-private partnerships, mergers and acquisitions, and technology transfer, while promoting increased Japanese investment in sectors such as semiconductors, AI, batteries, advanced materials, critical minerals, and other high-tech industries.
In response, Governor Maeda expressed strong support for Vietnam’s development goals and agreed with the proposals discussed at the meeting. He highlighted that while Japan is Vietnam’s largest provider of official development assistance, private-sector investment will increasingly be crucial for economic growth. Drawing on JBIC’s expertise with public-private partnerships, Maeda stated that the bank is ready to enhance cooperation in attracting international financing and backing long-term development projects.
Looking to the future, JBIC plans to continue its collaboration with Vietnam to implement the remaining AZEC projects while supporting developments in power, oil, and gas aimed at bolstering the country’s energy security. Maeda also disclosed that the bank is fostering partnerships with third countries to enhance Vietnam’s semiconductor supply chains, artificial intelligence ecosystem, and data center infrastructure. Additionally, JBIC is supporting Vietnamese startups through venture capital initiatives and is exploring cooperation on the Vietnam International Financial Centre and broader cultural exchange programs, reflecting the deepening Vietnam-Japan economic partnership.