The Japan Bank for International Cooperation (JBIC) has pledged to continue supporting Vietnam’s long-term economic growth, focusing on major infrastructure, energy, and technology projects. During a meeting on Thursday with Vietnamese Prime Minister Lê Minh Hưng, JBIC Governor Maeda Tadashi highlighted the bank’s commitment to advancing 15 projects under the Asia Zero Emission Community (AZEC) initiative, which collectively represent an investment of around $20 billion. Additionally, he affirmed JBIC’s ongoing support for energy initiatives through the Partnership for Energy Resilience and Resource Asia (POWERR Asia) program.
Prime Minister Hưng expressed appreciation for JBIC’s enduring partnership and its financial backing of Japanese-led projects within Vietnam. He noted the progress in Vietnam-Japan relations since both nations upgraded their ties to a Comprehensive Strategic Partnership nearly three years ago. This collaboration has expanded beyond traditional areas to include emerging sectors such as semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space development.
The Vietnamese prime minister emphasized the potential for deepening bilateral cooperation and urged JBIC to enhance its role in attracting investment for strategic infrastructure and industrial growth. He encouraged the establishment of financing and investment guarantee mechanisms to support industrial clusters, innovation centers, and high-tech manufacturing facilities throughout Vietnam. Hưng also called for increased JBIC involvement in public-private partnerships, mergers and acquisitions, and technology transfers, particularly in sectors like semiconductors, AI, batteries, advanced materials, critical minerals, and other high-tech industries.
Governor Maeda expressed strong alignment with Vietnam’s development objectives and agreed with the proposals discussed in the meeting. He pointed out that while Japan remains Vietnam’s largest provider of official development assistance, private-sector investment will increasingly drive economic growth. JBIC is prepared to leverage its expertise in public-private partnerships to enhance cooperation in attracting international financing and supporting long-term development initiatives.
Looking forward, JBIC plans to continue its collaboration with Vietnam to implement the remaining AZEC projects and support developments in power, oil, and gas to bolster the country’s energy security. Maeda also revealed efforts to foster partnerships with third countries to advance Vietnam’s semiconductor supply chains, artificial intelligence ecosystem, and data center infrastructure. Furthermore, JBIC is backing Vietnamese startups through venture capital initiatives and exploring collaborations on the Vietnam International Financial Centre and broader cultural exchange programs, underscoring the deepening economic partnership between Vietnam and Japan.