Deputy Minister of Finance Vo Thanh Hung met Governor Hayashi Nobumitsu of the Japan Bank for International Cooperation (JBIC) 08/11/2023 12:47:00 514

Deputy Minister of Finance Vo Thanh Hung met Governor Hayashi Nobumitsu of the Japan Bank for International Cooperation (JBIC) on the afternoon of November 7 on a working visit to Vietnam. Meeting attendees included Mr. Hidaka Yoshihito, current representative of the Japanese embassy in Vietnam; leaders of many functional divisions of the Vietnamese Ministry of Finance in a representative capacity.

Deputy Minister Vo Thanh Hung highly appreciated the contributions of Japanese businesses. Photo: Tue Anh

Deputy Minister Vo Thanh Hung stated at the meeting that Japan is Vietnam’s greatest source of official development assistance (ODA) and a significant trade, economic, and investment partner. ODA initiatives are thought to be quite successful and aid in Vietnam’s path of socioeconomic development. The Deputy Minister expressed optimism that the two countries may increase cooperation efforts in many sectors to deepen the long-standing and profound relationship between them in 2023, which is the year of Vietnam and Japan’s 50th anniversary of diplomatic relations.

Deputy Minister Vo Thanh Hung also expressed gratitude to the Japanese government, as well as to all Japanese companies, investors, and economic associations in the fight against the COVID-19 epidemic.

Mr. Hayashi Nobumitsu, Governor of JBIC pledged to continue cooperation in Vietnam

Vietnam’s economy is in transition, according to Deputy Minister Vo Thanh Hung. The country’s economic and social infrastructure is still in its least developed state, its starting point is low, and its economy is still modest. Vietnam’s economic growth process necessitates a combination of local and international capital sources, particularly ODA capital, to satisfy development investment demands in addition to the more comprehensive integration requirements. The Deputy Minister expressed his gratitude to Japanese companies for their assistance. JBIC has been involved in the execution of loan packages, advancing initiatives in the energy and industrial sectors of Vietnam, and supporting the country’s economic and social security growth.

Scene of the reception. Photo: Tue Anh

The Deputy Minister asked JBIC to keep helping Vietnam in addition to capital trading. They specifically asked for support for aid, particularly non-aid return, and technical assistance to increase Vietnam’s capabilities. JBIC will serve as a conduit to stimulate further Japanese investments in the Vietnamese economy, fostering the relationship between the two countries.

“The Vietnamese government is dedicated to preserving peace and political stability, a welcoming investment climate for foreigners, and macroeconomic stability. Accompanying that is a pledge to advance administrative reform in order to expedite, lessen difficulties for companies, and allow all international enterprises to enter. Thus, Japan may carry out investment operations in Vietnam in a beneficial and profitable manner,” the Deputy Minister stated.

Deputy Minister Vo Thanh Hung and the JBIC delegation. Photo: Tue Anh

Mr. Hayashi Nobumitsu said that Vietnam was a desirable place to invest. JBIC should be able to assist the Vietnamese government in making good use of loans and promote the country’s economic growth. The Governor of JBIC stated his hope that the two countries would continue to work together in capital, finance, and experience sharing. He also pledges to support, collaborate, and listen to the Vietnamese government at any time.

Translator: Thúy Nga