The Japan Bank for International Cooperation (JBIC) has reinforced its dedication to bolstering Vietnam’s long-term economic growth, focusing on key areas such as infrastructure, energy, and technology. In a meeting with Vietnamese Prime Minister Lê Minh Hưng, JBIC Governor Maeda Tadashi confirmed the bank’s ongoing commitment to 15 projects under the Asia Zero Emission Community (AZEC) initiative, which together involve an investment of around $20 billion. Additionally, Maeda pledged continued backing for energy projects tied to the Partnership for Energy Resilience and Resource Asia (POWERR Asia) initiative.
Prime Minister Hưng expressed appreciation for JBIC’s enduring partnership and lauded the financial assistance provided to Japanese-supported projects in Vietnam. He noted the significant progress in Vietnam-Japan relations since the two countries upgraded their ties to a Comprehensive Strategic Partnership nearly three years ago. According to Hưng, this collaboration has extended beyond traditional sectors into burgeoning areas like semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space development.
Highlighting the vast potential for enhancing bilateral cooperation, the Vietnamese leader urged JBIC to take a more active role in channeling investment towards strategic infrastructure and industrial growth. He called for the establishment of financing and investment guarantee mechanisms that would support industrial clusters, innovation hubs, and high-tech manufacturing across Vietnam. Moreover, Hưng encouraged JBIC to broaden its support for public-private partnerships, mergers and acquisitions, and technology transfers, while promoting increased Japanese investment in sectors such as semiconductors, AI, batteries, advanced materials, and critical minerals.
In response, Maeda expressed strong alignment with Vietnam’s development priorities and supported the proposals set forth during the meeting. He emphasized that while Japan remains the largest provider of official development assistance to Vietnam, the role of private-sector investment is becoming increasingly crucial to sustaining economic growth. Leveraging JBIC’s expertise in public-private partnerships, Maeda indicated the bank’s readiness to enhance cooperation in securing international financing and supporting long-term development projects.
Looking forward, JBIC plans to continue its collaboration with Vietnam to implement the remaining AZEC projects and support developments in power, oil, and gas aimed at bolstering the nation’s energy security. Maeda also highlighted the bank’s efforts to foster partnerships with third countries to build Vietnam’s semiconductor supply chains, artificial intelligence ecosystem, and data center infrastructure. Furthermore, JBIC is actively supporting Vietnamese startups through venture capital initiatives and exploring cooperative efforts on the Vietnam International Financial Centre and broader cultural exchange programs, underscoring the deepening economic ties between Vietnam and Japan.