Viet Nam seeks Japan's new-generation ODA for large-scale projects
VGP - Prime Minister Pham Minh Chinh called on Japan to provide new-generation official development assistance (ODA) for Viet Nam to implement strategic infrastructure projects including the North - South high-speed railway, nuclear power, and urban rail systems in Ha Noi and Ho Chi Minh City.
Prime Minister Pham Minh Chinh (R) shakes hands with Japanese Minister of Finance Kato Katsunobu, Ha Noi, January 8, 2024 - Photo: VGP/Nhat Bac
The Vietnamese Government leader made the call during a reception for visiting Japanese Minister of Finance Kato Katsunobu in Ha Noi on January 8.
In November last year, the 15th National Assembly passed a resolution on the investment policy for the North-South high-speed railway project. The 1,541-km project, running between Ha Noi and Ho Chi Minh City, is estimated to cost VND1,700 trillion (US$67 billion) with construction scheduled between 2027 and 2035.
Vietnamese law-markers also approved the plan to resume the nuclear power project in the south – central province of Ninh Thuan after eight years of pause in an effort to ensure energy security while meeting Net Zero goal.
By 2045, Ha Noi is projected to have 15 urban railway lines with a total length of 617 km. The southern metropolis will complete an additional 155 km, bringing the total length to approximately 510 km.
Prime Minister Pham praised Japan's effective financial support for large-scale infrastructure projects in Viet Nam including Ha Noi-based Nhat Tan Bridge and Terminal T2 at Noi Bai International Airport, and HCM City's Metro Line 1, which started commercial operations in December 2024.
As Viet Nam targets to achieve a GDP growth rate of at least 8 percent in 2025, the country needs substantial capital to accelerate and efficiently execute development projects, said Pham.
He also called for Japan's assistance for Viet Nam to implement projects on disaster risk mitigation, climate change response, and those under the Just Energy Transition Partnership (JETP) and the Asia Zero Emission Community (AZEC).
In reply, Minister Kato congratulated Viet Nam on achieving high growth rate of 7.09 percent in 2024.
He said Japan is reviewing policies to better support foreign nationals, including Vietnamese community, which accounts for about one quarter of the foreign expatriates' population in Japan and has made significant contributions to his country's development.
The minister also suggested the two countries jointly resolve obstacles, expedite existing projects, and initiate new ones./.
