The Japan Bank for International Cooperation (JBIC) has reiterated its dedication to bolstering Vietnam’s long-term economic growth through support for key infrastructure, energy, and technology projects. In a meeting held on Thursday with Vietnamese Prime Minister Lê Minh Hưng, JBIC Governor Maeda Tadashi confirmed the bank’s intention to pursue 15 initiatives under the Asia Zero Emission Community (AZEC) plan, with a total investment nearing $20 billion. Additionally, Maeda committed to ongoing support for energy projects within the framework of the Partnership for Energy Resilience and Resource Asia (POWERR Asia) initiative.
Prime Minister Hưng expressed his appreciation for JBIC’s enduring collaboration, acknowledging the bank’s financial backing of Japanese-supported ventures in Vietnam. He noted the evolving nature of Vietnam-Japan relations since the two nations elevated their connection to a Comprehensive Strategic Partnership nearly three years ago. The prime minister emphasized that cooperation now extends beyond traditional sectors to include burgeoning areas such as semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space exploration.
Highlighting the vast potential for deepening bilateral ties, Hưng urged JBIC to take a more active role in attracting investment for crucial infrastructure and industrial advancements. He called for the establishment of financing and investment guarantee mechanisms to foster the growth of industrial clusters, innovation hubs, and advanced manufacturing facilities throughout Vietnam. Furthermore, he encouraged the bank to enhance its support for projects involving public-private partnerships, mergers and acquisitions, and technology transfer, while also advocating for increased Japanese investment in high-tech sectors, including semiconductors, AI, batteries, advanced materials, and critical minerals.
In response, Governor Maeda voiced firm backing for Vietnam’s development goals and concurred with the proposals discussed at the meeting. He stressed that although Japan continues to be the largest provider of official development assistance to Vietnam, private-sector investment is increasingly crucial for sustaining the country’s economic expansion. Drawing from JBIC’s experience with public-private partnerships, Maeda assured that the bank is ready to intensify efforts to attract international financing and support long-term development strategies.
Looking forward, JBIC plans to collaborate with Vietnam in executing the remaining AZEC projects while aiding developments in power, oil, and gas sectors to bolster the nation’s energy security. Maeda also disclosed that the bank is fostering partnerships with third countries to enhance Vietnam’s semiconductor supply chains, artificial intelligence framework, and data center infrastructure. Additionally, JBIC is investing in Vietnamese startups through venture capital initiatives and is exploring cooperation on the Vietnam International Financial Centre and broader cultural exchange programs, underscoring the expanding scope of the Vietnam-Japan economic partnership.