The Japan Bank for International Cooperation (JBIC) has reiterated its dedication to fostering Vietnam’s economic growth, focusing on key areas like infrastructure, energy, and technology. In a recent meeting with Vietnamese Prime Minister Lê Minh Hưng, JBIC Governor Maeda Tadashi committed to advancing 15 projects under the Asia Zero Emission Community (AZEC) initiative. These projects collectively represent an investment of around $20 billion. Additionally, the bank plans to continue supporting energy ventures through the Partnership for Energy Resilience and Resource Asia (POWERR Asia) initiative.
Prime Minister Hưng expressed appreciation for JBIC’s enduring collaboration and financial support, particularly for projects backed by Japan in Vietnam. He noted the progress in Vietnam-Japan relations that has unfolded since the elevation of their ties to a Comprehensive Strategic Partnership three years ago. The prime minister pointed out that cooperation has expanded beyond traditional domains into new areas like semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space development.
Hưng emphasized the vast potential for deepening bilateral cooperation and urged JBIC to take a more active role in attracting investment for strategic infrastructure and industrial growth. He suggested the establishment of financing and investment guarantee mechanisms to support industrial clusters, innovation hubs, and high-tech manufacturing across Vietnam. Furthermore, he encouraged JBIC to enhance its support for projects involving public-private partnerships, mergers and acquisitions, and technology transfer, hoping for increased Japanese investment in sectors such as semiconductors, AI, batteries, advanced materials, critical minerals, and other high-tech industries.
Maeda responded with strong support for Vietnam’s development goals, aligning with the proposals discussed during the meeting. He highlighted that while Japan remains the largest provider of official development assistance to Vietnam, private-sector investment will become increasingly crucial for sustained economic growth. Drawing from JBIC’s public-private partnership experience, he assured that the bank is ready to boost cooperation in attracting international financing and supporting long-term development projects.
Future collaboration between JBIC and Vietnam will focus on implementing the remaining AZEC projects and supporting power, oil, and gas developments to bolster the country’s energy security. Maeda also announced efforts to forge partnerships with third countries to enhance Vietnam’s semiconductor supply chains, AI ecosystem, and data center infrastructure. Additionally, JBIC is backing Vietnamese startups through venture capital initiatives and exploring cooperation on the Vietnam International Financial Centre and broader cultural exchange programs, signaling the deepening ties in the Vietnam-Japan economic partnership.