The Japan Bank for International Cooperation (JBIC) has reinforced its dedication to bolstering Vietnam’s economic growth over the long term, focusing on key sectors such as infrastructure, energy, and technology. In a meeting with Vietnamese Prime Minister Lê Minh Hưng on Thursday, JBIC Governor Maeda Tadashi confirmed the bank’s ongoing investment in 15 projects under the Asia Zero Emission Community (AZEC) initiative, with a total value of around $20 billion. Additionally, he assured continued support for energy developments through the Partnership for Energy Resilience and Resource Asia (POWERR Asia) initiative.
Prime Minister Hưng expressed appreciation for JBIC’s enduring collaboration and financial backing of Japanese-led projects within Vietnam. He noted the consistent strengthening of Vietnam-Japan relations since their ties were elevated to a Comprehensive Strategic Partnership nearly three years ago. The prime minister emphasized the expansion of cooperation beyond traditional areas into new domains such as semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space exploration.
Highlighting the substantial potential for further enhancing bilateral cooperation, Hưng called upon JBIC to intensify its role in attracting investment for strategic infrastructure and industrial projects. He urged the bank to devise financing and investment guarantee strategies that would aid in the development of industrial clusters, innovation hubs, and high-tech manufacturing facilities throughout Vietnam. Furthermore, he encouraged JBIC to expand its support for initiatives involving public-private partnerships, mergers and acquisitions, and technology transfers, while also promoting more Japanese investment in sectors like semiconductors, AI, batteries, advanced materials, and critical minerals.
Responding to these proposals, Governor Maeda expressed firm support for Vietnam’s development objectives and reiterated JBIC’s commitment to these goals. He highlighted that while Japan remains a major provider of official development assistance to Vietnam, private sector investment will become increasingly crucial for sustaining economic growth. Leveraging JBIC’s expertise in public-private partnerships, Maeda stated the bank’s readiness to bolster cooperation in attracting global financing and supporting long-term development projects.
Looking forward, JBIC plans to continue its collaboration with Vietnam to complete the remaining AZEC projects, while also backing power, oil, and gas initiatives aimed at enhancing the country’s energy security. Maeda also disclosed JBIC’s efforts to foster partnerships with third countries to advance Vietnam’s semiconductor supply chains, artificial intelligence landscape, and data center infrastructure. Additionally, JBIC is engaging in venture capital initiatives to support Vietnamese startups and exploring joint ventures in the Vietnam International Financial Centre and broader cultural exchange programs, underscoring the deepening economic ties between Vietnam and Japan.