Prime Minister Pham Minh Chinh receives JBIC Chairman Maeda Tadashi

Prime Minster Pham said Viet Nam and Japan have maintained close relationship based on trust, sincerity, and effectiveness.

Since the two countries set up Comprehensive Strategic Partnership nearly two years ago, the bilateral ties have entered their best period to date, he noted.

Pham appreciated JBIC's support in policy dialogue, as well as its provision of numerous loans to promote Japanese investment in Viet Nam through key infrastructure and energy projects. 

JBIC has also offered loans to support investment projects by Japanese small and medium-sized enterprises (SMEs) in Viet Nam. Most recently, it provided a loan of over US$800 million to restart the Block B gas project, he added.

Pham said Viet Nam is undergoing a revolution in its administrative apparatus, aiming for economic growth of at least 8 percent this year and double-digit expansion in the years ahead. To achieve its centennial goals for 2030 and 2045, Viet Nam is prioritising three strategic breakthroughs of institutions, infrastructure, and human resources.

He underscored the importance of large-scale infrastructure projects currently underway, including expressways, seaports, airports, and particularly metro and high-speed rail systems, as well as nuclear power. He invited JBIC and Japanese enterprises to support these efforts by providing capital, technology, and training.

He paid particular attention to the Nghi Son Refinery and Petrochemical LLC (NSRP), a joint venture between Vietnamese, Kuwaiti, and Japanese partners. According to him, while the project is generating profits for foreign stakeholders, the Vietnamese side has suffered prolonged losses.

Pham urged JBIC, as the project’s largest lender, to play a leading role in convincing stakeholders to implement financial restructuring to ensure the project’s long-term efficiency and move forward with its second phase, based on the principle of “harmonised benefits and shared risks.”

Maeda, for his part, spoke highly of Viet Nam’s remarkable progress and growing international reputation. He commended recent key decisions by the Vietnamese leadership, especially those promoting private sector development and green energy transition.

He confirmed JBIC’s readiness to provide funding for Japanese businesses undertaking green projects in Viet Nam within the AZEC framework. 

Maeda affirmed JBIC and Japanese companies’ strong interest in Viet Nam's infrastructure sector, including projects under the Transit-Oriented Development (TOD) model. Notably, Japanese firms are keen to contribute to Viet Nam's high-speed rail development, given their extensive expertise./.