Tô Lâm Meets Leaders of Six Japanese Firms to Discuss Financing and Investment in Vietnam
Vietnam’s General Secretary and President Tô Lâm met leaders of six Japanese financial institutions and companies in Tokyo on November 9 to discuss long-term financing and investment in transport infrastructure and clean energy. Erex outlined biomass power plans, while AEON said it aims to expand its retail business in Vietnam.
On November 9, during his official visit to Japan, Vietnam’s General Secretary and President Tô Lâm met leaders of six Japanese financial institutions and companies in Tokyo. He said he hoped they would expand their business in Vietnam and contribute to the development of transport infrastructure, energy and finance.
Tô Lâm called on Sumitomo Mitsui Financial Group (SMBC Group) to raise and arrange medium- and long-term financing for projects in Vietnam, including transport infrastructure, logistics and clean energy. A group executive said it had arranged and facilitated more than US$20 billion in international financing for Vietnam and would continue to promote cooperation in green finance and capital markets. Meeting a Mizuho Bank executive, Tô Lâm also called for greater support to help Vietnamese businesses access financing and investment opportunities.
Tô Lâm meets a Sumitomo Mitsui Financial Group executive in Tokyo.（VietVance）
SBI Holdings said it plans to sign a memorandum of understanding with Sun Group to explore establishing a joint venture. Sojitz said it would seek new opportunities in industrial infrastructure, clean energy and consumer sectors. Tô Lâm urged Sojitz to focus on clean power, strategic mineral supply chains, data centers and the integration of existing projects.
Erex proposed developing biomass power plants in several parts of Vietnam and called for improvements to the relevant regulatory framework. Tô Lâm said its long-term goal of building biomass power plants with a combined capacity of more than 1,000 megawatts would require careful preparation on policy mechanisms, feedstock, site selection and scheduling.
Tô Lâm meets an Erex executive.（VietVance）
AEON said Vietnam is a priority market in its medium-term plan and that it aims to triple the size of its business. Tô Lâm encouraged the group to develop modern retail operations suited to local needs, invest in logistics and e-commerce, and help bring more Vietnamese products into its global distribution network.
Tô Lâm meets an AEON executive.（VietVance）
Source: VietVance
