Vietnam to continue receiving Japan’s financial support

Vietnam Prime Minister Nguyen Tan Dung (R) receives Hiroshi Watanabe, president and chief executive officer of Japan Bank for International Cooperation (JBIC), in Hanoi Friday    

The Japanese government has decided to provide Vietnam with 65 billion yens (US$674.2 million) as official development assistance for the 2009 fiscal year’s first half.

Minister of Planning and Investment Vo Hong Phuc was informed of the news in Hanoi Friday by the Japanese ambassador to Vietnam Sakaba Mitsuo.

In the immediate future, the governments of the two countries will carry out the necessary procedures for implementing the following key projects: restoring bridges on National Highway 1, building the Thai Binh Power Plant No. 1 (first phase), and providing loans to support small and medium enterprises (third phase).

According to the Japanese diplomat, the decision was based on the good relationship between the two countries and the expectation for further development of activities and reforms in regards to Vietnam’s policies.

On the same day, Hiroshi Watanabe, president and chief executive officer of Japan Bank for International Cooperation (JBIC), assured Prime Minister Nguyen Tan Dung at a reception in Hanoi that the bank would continue to grant loans to banks in Asia, including Vietnam, to help local businesses overcome difficulties and maintain operations.

He said the bank would consider investments in clean energy, safe water, efficient use of energy, and urban transportation improvements as the top priorities.

Dung said the Vietnamese government wanted to cooperate with JBIC in its credit programs to develop infrastructure, guarantee and issue bonds, and promote commercial sponsorship.

The Vietnamese government’s leader welcomed the bank’s decision to open an office in Vietnam and promised that Vietnam would create the best possible conditions for JBIC to operate efficiently.

Source: TN, VNA

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