The Japan Bank for International Cooperation (JBIC) has reaffirmed its dedication to Vietnam’s economic growth, focusing on infrastructure, energy, and technology projects. During a meeting with Vietnamese Prime Minister Lê Minh Hưng, JBIC Governor Maeda Tadashi confirmed the bank’s commitment to advancing 15 projects under the Asia Zero Emission Community (AZEC) initiative, totaling around $20 billion. Additionally, support for energy projects under the Partnership for Energy Resilience and Resource Asia (POWERR Asia) initiative was pledged.
Prime Minister Hưng expressed gratitude for JBIC’s ongoing partnership, emphasizing the positive developments in Vietnam-Japan relations since their Comprehensive Strategic Partnership was established nearly three years ago. He noted that cooperation has broadened beyond traditional areas, encompassing new sectors such as semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space development. Recognizing the potential for deeper collaboration, Hưng called on JBIC to enhance investment in strategic infrastructure and industrial projects.
Hưng encouraged JBIC to create financing and investment guarantee mechanisms to support industrial clusters, innovation centers, and high-tech manufacturing in Vietnam. He also urged the bank to expand its support for public-private partnerships, mergers and acquisitions, and technology transfer, while promoting Japanese investment in advanced sectors like semiconductors, AI, batteries, advanced materials, and critical minerals.
In response, Maeda expressed firm support for Vietnam’s development goals and agreed with the proposals discussed. He noted that Japan remains Vietnam’s top provider of official development assistance, but highlighted the growing importance of private-sector investment in sustaining economic growth. Leveraging JBIC’s expertise in public-private partnerships, Maeda stated the bank’s readiness to enhance cooperation in attracting international financing and supporting long-term initiatives.
Looking forward, JBIC plans to continue working with Vietnam on the outstanding AZEC projects, while also supporting developments in power, oil, and gas to bolster the country’s energy security. Maeda also announced the bank’s efforts to forge partnerships with third countries to develop Vietnam’s semiconductor supply chains, AI ecosystem, and data center infrastructure. Moreover, JBIC is backing Vietnamese startups through venture capital and exploring collaboration on the Vietnam International Financial Centre and cultural exchange programs, underscoring the deepening Vietnam-Japan economic relationship.