Japan Bank for International Cooperation (JBIC) would provide additional grants for Vietnamese enterprises implementing projects in fields of infrastructure development and energy, according to Masaaki Yamada, JBIC’s managing executive officer.
Deputy Prime Minister Trinh Dinh Dung (r) and Masaaki Yamada, JBIC’s managing executive officer. Source: VGP.
Yamada made this statement upon request from Vietnam’s Deputy Prime Minister Trinh Dinh Dung for more grants to local enterprises in a meeting on March 7.
As of present, projects financed by JBIC’ funds have been executed efficiently, in which the Japanese lender focuses on projects involving technology transfer and encourages Japanese small and medium enterprises to expand their businesses in Vietnam, said Yamada.
At the meeting, Deputy PM Dung said the relation between Vietnam and Japan has been developing comprehensively in every aspect, especially in trade and investment.
Japan remains Vietnam’s top economic partner in terms of ODA provision at US$30 billion, second in investment with 4,200 projects worth US$57 billion, third in tourism and fourth in trade, Dung stated.
According to Dung, the Comprehensive and Progressive Trans – Pacific Partnership (CPTPP) and bilateral trade agreement would present new opportunities for enterprises from both countries.
In this context, Vietnam is committed to creating favorable conditions for foreign companies doing business in the country, particularly in priority fields such as infrastructure development and energy sector, Dung stressed.
Over the past few years, JBIC has been providing grants and facilitating FDI from Japan to Vietnam, focusing on major infrastructure and energy projects such as Nghi Son Oil Refinery, Nghi Son 2 Thermal Power plant, Vinh Tan 4 and 4-extension thermal plants, among others.