The Japan Bank for International Cooperation (JBIC) is steadfast in its commitment to bolstering Vietnam’s economic growth through significant infrastructure, energy, and technology initiatives. JBIC Governor Maeda Tadashi, in a meeting with Vietnamese Prime Minister Lê Minh Hưng on Thursday, assured that the bank will continue its involvement in 15 projects under the Asia Zero Emission Community (AZEC) initiative, which together represent an investment of around $20 billion. Maeda also reiterated JBIC’s support for energy projects through the Partnership for Energy Resilience and Resource Asia (POWERR Asia) initiative.
Prime Minister Hưng expressed gratitude for JBIC’s enduring collaboration and financial backing for Japanese-led projects within Vietnam. He noted the progress in Vietnam-Japan relations since the countries upgraded their ties to a Comprehensive Strategic Partnership almost three years ago. The partnership has broadened beyond traditional domains into new areas such as semiconductors, artificial intelligence, digital transformation, renewable energy, green technology, and space development, according to the Prime Minister.
Highlighting the potential for deeper bilateral cooperation, Prime Minister Hưng urged JBIC to enhance its role in securing investment for strategic infrastructure and industrial growth. He advocated for the creation of financing and investment guarantee frameworks that would support industrial clusters, innovation hubs, and high-tech manufacturing in Vietnam. Additionally, he encouraged JBIC to extend support to projects involving public-private partnerships, mergers and acquisitions, and technology transfer. The Prime Minister also called for increased Japanese investment in sectors like semiconductors, AI, batteries, advanced materials, critical minerals, and other high-tech industries.
In response, Maeda expressed strong alignment with Vietnam’s development priorities and endorsed the proposals put forth during the meeting. He emphasized that while Japan continues to be Vietnam’s largest source of official development assistance, private investment will become increasingly crucial for sustained economic growth. Maeda highlighted JBIC’s readiness to leverage its experience with public-private partnerships to attract international investment and support long-term development goals.
Looking forward, JBIC plans to advance the remaining AZEC projects and support power, oil, and gas developments aimed at enhancing Vietnam’s energy security. Maeda also disclosed plans to foster partnerships with third countries to advance Vietnam’s semiconductor supply chains, AI ecosystem, and data center infrastructure. Furthermore, JBIC is investing in Vietnamese startups through venture capital initiatives and exploring collaborations on the Vietnam International Financial Centre and broader cultural exchange programs, underscoring the deepening Vietnam-Japan economic partnership.