Vietnam and Japan Discuss Expanded Development Cooperation and ODA Projects
Vietnam’s Ministry of Finance and JICA held talks on November 10 about infrastructure financing, implementation of official development assistance projects and cooperation in new fields. The two sides had signed three related documents and will continue working to resolve outstanding payments to contractors on Ho Chi Minh City’s Urban Railway Line No. 1.
On November 10, Vietnamese Minister of Finance Ngo Van Tuan met with Tanaka Akihiko, president of the Japan International Cooperation Agency (JICA), during a visit to Japan to discuss expanding development cooperation between the two countries. Ngo Van Tuan said Vietnam’s investment capital needs for 2026–2030 are expected to be more than 2.2 times those for 2021–2025. He expressed hope that the Japanese government would continue providing financial support through JICA for major infrastructure projects.
Vietnamese Minister of Finance Ngo Van Tuan and Tanaka Akihiko, president of the Japan International Cooperation Agency.（VietVance）
The two sides reviewed progress in cooperation since Tanaka Akihiko’s visit to Vietnam in June this year. A tripartite task force comprising Vietnam’s Ministry of Finance, the Japanese Embassy in Vietnam and JICA is gradually addressing obstacles to the implementation of Japanese official development assistance projects, including Ho Chi Minh City’s Urban Railway Line No. 1 and equipment supply projects funded by Japanese grant aid. Tanaka Akihiko said the two sides still needed to work together to resolve outstanding payments to contractors on Urban Railway Line No. 1 so the project could enter stable commercial operation as soon as possible.
On November 9, an exchange of notes for the Vietnam Japan University project, a loan agreement for the O Mon 3 thermal power plant project and an agreement to facilitate the implementation of Japanese grant aid projects were signed and exchanged at an event attended by Vietnamese leader To Lam and Japanese Prime Minister Takaichi Sanae.
Tanaka Akihiko said Japan hoped to strengthen cooperation in human resource training, artificial intelligence, science and technology, and semiconductor technology alongside traditional infrastructure. Ngo Van Tuan called on JICA to coordinate with Vietnam’s Ministry of Finance on negotiations and project procedures to shorten preparation times and improve the efficiency of official development assistance funding.
Source: VietVance
