PM: Vietnam-Japan Relationship Developing with High Level of Political Trust
|Prime Minister Pham Minh Chinh (right) received Chairman of the Board of Directors of the Japan Bank for International Cooperation (JBIC) Maeda Tadashi in Hanoi on July 22. Photo: Nhan dan|
Prime Minister Pham Minh Chinh received Chairman of the Board of Directors of the Japan Bank for International Cooperation (JBIC) Maeda Tadashi in Hanoi on July 22, according to Viet Nam News.
The PM said he encouraged Japanese enterprises to cooperate with Vietnam in prioritised fields and diversify their supply chains.
He hailed the effective and positive cooperation from the Japanese bank and its provision of loans for important infrastructure, large-scale projects in Vietnam.
The PM was pleased to see that the extensive strategic partnership for peace and prosperity in Asia between Vietnam and Japan had been developing strongly and comprehensively with a high level of political trust.
Chinh affirmed that Vietnam always considers Japan an important and long-term strategic partner. The relationship between the two countries has entered a new phase of development towards the 50th anniversary of the establishment of diplomatic relations in 2023.
He suggested that Japan and JBIC continue to actively advise Vietnam on policy-making experience from Japan’s Government; continue to discuss and coordinate closely with Vietnamese agencies to find out more effective cooperation methods.
The PM emphasised his request that Japan and JBIC help Vietnam build a fast-growing, sustainable, larger-scale economy with increasing independence; effectively realising the commitment to reach net zero emissions by 2050 through existing cooperation mechanisms. The two sides would also effectively implement the initiative to build a net-zero emission community in Asia and the energy transformation initiative of Japan.
|Prime Minister Pham Minh Chinh and Chairman of the Board of Directors of the Japan Bank for International Cooperation (JBIC) Maeda Tadashi in Hanoi on July 22. Photo: Nhan dan|
Chinh asked JBIC to focus on supporting Vietnam with policy consultations, capital sources, technology, human resources, and management experience to develop an energy conversion and renewable energy industry. He particularly mentioned the need for support to improve the manufacturing capacity and production of equipment in the field of solar power and wind power, in which Vietnam has great potential.
The Vietnamese leader also suggested that Japan and JBIC promote the new generation ODA cooperation programme that the two Prime Ministers discussed during his official visit to Japan (November 2021).
For his part, the Chairman of JBIC expressed his appreciation for the efforts and results that Vietnam has achieved in the recent difficult context, with the implementation of many effective policies in Covid-19 prevention and control, and lauded Vietnam's commitments and actions on environmental issues.
Chairman Maeda agreed with the proposals of PM Chinh, sharing many ideas, solutions and specific cooperation contents; affirming that JBIC wishes to cooperate and stand with Vietnam in many fields.
The Chairman affirmed that Vietnam is one of the two key partner countries of Japan in ASEAN in implementing cooperation strategies on climate change adaptation to realise the idea of creating a net-zero emission community in Asia.
NA Chairman hosts JBIC leader
|NA Chairman Vuong Dinh Hue (right) and Chairman of the Board of Directors of the Japan Bank for International Cooperation (JBIC) Maeda Tadashi. Photo: VNA|
The same day, Chairman of the National Assembly Vuong Dinh Hue hosted a reception for Maeda, during which the Vietnamese top legislator spoke highly of his guest’s recommendations for Vietnam in energy transition, VietnamPlus reported.
Hue said the NA supports the Vietnam-Japan strategic partnership to grow strongly in a comprehensive and substantive manner. Vietnam and Japan have a lot to supplement each other, given that both countries are signatories to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Cooperation (RCEP).
Maeda said his bank plays a key role in providing credit and funding for Japan’s international cooperation projects. JBIC has been pushing for Japan’s initiative on developing an “Asian zero-emissions community” and Japan Energy Transition Initiative, he noted.
He then put forward several recommendations to help Vietnam realise its commitment of achieving net-zero emissions by 2050 at the 26th UN Climate Change Conference (COP26) last year.
Expressing his thanks for Maeda’s recommendations, Hue said the world is facing many uncertainties and suffering heavy toll caused by Covid-19, which not only challenge the recovery process but also affect the realisation of Vietnam’s COP26 commitment.
According to Hue, achieving net zero emissions by 2050 is a challenge for Vietnam. He held that however, with its self-reliance and cooperation from foreign partners, including Japan, Vietnam will accomplish the goal.
He hoped that JBIC and other development partners will support Vietnam in improving its regulatory framework and institutions for sustainable development, particularly with regard to climate change adaption and energy transition.
The Vietnamese NA is revising the Law on Oil and Gas and the Law on Electricity as well as various master plans and key policies of the nation, he noted.
Vietnam looks forward to receiving JBIC’s technical consultation in developing the most feasible strategy and roadmap for the energy transition, he said, adding that Vietnam wants JBIC to help access funding for its green energy and energy transition projects that come with affordable interest rates.
He is confident that Japan will continue to be Vietnam’s important and trustworthy partner in fulfilling goals in climate change adaption and energy transition, and COP26 commitments./.
|Vietnamese businesses introduce their products at Foodex Japan 2022. Photo: VNA|
Vietnam’s total export turnover to Japan reached $11.38 billion in the first six months of 2022, up nearly 13% over the same period last year, according to the General Department of Customs.
Meanwhile, imports from Japan in the period reached $12 billion, up 10.6% year on year.
The scale of two-way trade between Vietnam and Japan is only after its trade with China, the United States and the Republic of Korea (RoK).
Vietnam’s export goods are quite diverse, from agricultural products to processing and manufacturing goods.
In 2021, bilateral trade between the two countries reached nearly $43 billion, of which Vietnam’s exports were valued at $20.13 billion and imports were worth $22.8 billion./.
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