Party leader urges JBIC to step up financing for Viet Nam’s strategic development projects
VGP - General Secretary and President To Lam received Maeda Tadashi, Chairman of the Japan Bank for International Cooperation (JBIC), in Ha Noi on October 1, calling on the Japanese financial institution to further connect Japanese resources with Viet Nam’s development needs.
General Secretary and President To Lam (R) and Chairman of the Japan Bank for International Cooperation (JBIC) Maeda Tadashi, Ha Noi, October 1, 2026 - Photo: VNA
The top Vietnamese leader highly valued JBIC's positive contributions to Viet Nam's socio-economic development and Viet Nam-Japan economic ties through financial cooperation, promotion of Japanese investment, and support for major projects in energy, power generation and infrastructure.
To Lam said Viet Nam is accelerating the transformation of its growth model and pursuing industrialization and modernization based on science and technology, innovation and digital transformation, while attaching importance to energy security cooperation with Japan and other countries amid growing global uncertainties.
To Lam asked JBIC to continue serving as a bridge connecting Japanese financial resources with Viet Nam's development priorities and help attract high-quality investment to new projects in infrastructure, semiconductors, artificial intelligence (AI) and data centers.
He also called on JBIC to share its experience in developing and managing financial and economic centers, and help attract Japanese financial institutions and banks to the International Financial Center recently established in Ho Chi Minh City and Da Nang.
Regarding energy cooperation, the Vietnamese leader urged JBIC to promote the substantive implementation of projects under the Asia Zero Emission Community (AZEC) framework and step up discussions on potential cooperation under the Partnership on Wide Energy and Resources Resilience Asia (POWERR Asia), including the development of strategic energy reserves.
For his part, Maeda affirmed JBIC's strong interest in the Vietnamese market and expressed the bank's readiness to work closely with Vietnamese agencies and businesses to advance specific cooperation projects in AI, semiconductors, digital transformation, green transition, robotics and energy, in line with Viet Nam's development priorities and the new direction of bilateral economic cooperation.
He said power projects aimed at ensuring a stable electricity supply for the development of robotics and physical AI would be an area well suited to Viet Nam.
Maeda also briefed To Lam on the POWERR Asia initiative announced by Japanese Prime Minister Sanae Takaichi in April 2026 to help ensure stable energy supplies for Asian countries. Japan is ready to share its experience and support Viet Nam in developing a crude oil reserve system, he said.
The JBIC Chairman further informed the Vietnamese leader that JBIC will coordinate with the the Central Policy and Strategy Commission to organize the first policy dialogue during his current visit to Viet Nam.
He added that JBIC and VPBank will provide US$27 million in financing for a power transmission system under the AZEC framework, while JBIC is prioritizing new power transmission projects connecting ASEAN countries./.