Vietnam’s Finance Ministry and JICA Advance Aid Financing and Project Cooperation
Vietnamese Finance Minister Ngô Văn Tuấn met the head of the Japan International Cooperation Agency in Japan on November 10. They agreed to address obstacles to official development assistance projects, advance agreed projects and discuss a budget support loan for artificial intelligence.
Vietnam’s Ministry of Finance said Finance Minister Ngô Văn Tuấn met Tanaka Akihiko, chairman of the Japan International Cooperation Agency (JICA), on November 10 during Tô Lâm’s official visit to Japan. The two sides agreed to continue using existing coordination mechanisms to address problems in implementing projects funded by Japanese official development assistance loans and grants.
Vietnamese Finance Minister Ngô Văn Tuấn led a delegation in talks with the chairman of the Japan International Cooperation Agency.（VietVance）
Ngô Văn Tuấn said Vietnam’s investment funding needs from 2026 to 2030 are expected to exceed 2.2 times those of 2021 to 2025. He proposed that the Japanese government continue funding essential infrastructure projects in Vietnam through JICA and work with Vietnam’s Ministry of Finance to study ways to simplify procedures and shorten project preparation times.
The two sides reviewed cooperation since June 2026. A tripartite working group comprising Vietnam’s Ministry of Finance, the Japanese Embassy in Vietnam and JICA is gradually resolving obstacles to implementing Ho Chi Minh City Metro Line 1 and equipment procurement projects funded by Japanese grants. Tanaka Akihiko said he hoped the mechanism would continue to help speed up disbursements, payments to contractors and implementation of projects with committed funding.
On the evening of November 9, the two sides signed or exchanged three official development assistance documents: an exchange of notes for the Vietnam–Japan University project, a loan agreement for the Ô Môn 3 thermal power plant project, and an agreement to facilitate Japanese grant projects. Ngô Văn Tuấn and Tanaka Akihiko also agreed to accelerate implementation of the first two projects and advance discussions on a budget support loan for artificial intelligence.
Tanaka Akihiko said Japan hopes to strengthen cooperation with Vietnam in infrastructure, human resource development, artificial intelligence, science and technology, and looks forward to further cooperation in areas including semiconductors.
Source: VietVance
