Japan pledges record ODA for Viet Nam

JICA Chief Representative Sugano Yuichi announced the information at a press conference held in Ha Noi on October 17. 

The above figure, a record high for the 2023-2024 financial year, did not include funding for the private sector, the highest amount in the past six years, said Sugano.

Last year marked the 50th anniversary of the establishment of diplomatic relations between Japan and Viet Nam. The two countries upgraded their relationship to a Comprehensive Strategic Partnership "for peace and prosperity in Asia and the world".

According to Sugano, in the period from March 2023-March 2024, technical cooperation reached ¥5.2 billion yen (equivalent to US$35 million), making it the largest scale in the world for the same fiscal year while non-refundable aid amounted to ¥1.1 billion (equivalent to US$7.5 million) in committed funds.

JICA's programs and projects have timely supported Viet Nam in recovering its economy after the COVID-19 pandemic and contributed to both infrastructure and human resource development, laying the foundation for medium- and long-term economic growth, he stated.

Viet Nam is the leading country among those with which JICA is collaborating, he shared, adding that during the period, JICA sent 45 Japanese overseas cooperation volunteers to Viet Nam, as well as launched 36 investment projects from Japanese small and medium-sized enterprises in the field of sustainable development goals (SDGs), and 24 grassroots technical cooperation projects.

Besides, under the Private Sector Investment and Finance (PSIF) scheme, the agency carried out 9 projects in Viet Nam.

Currently, JICA focuses on three key pillars to support Viet Nam, including high-quality growth, assistance for vulnerable groups, and human resource development.

Sugano Yuichi emphasized that the agency is committed to continuing to promote projects aimed at further strengthening Japan-Viet Nam relations in the next 50 years./.