Hanoi (VNA) — Politburo member, Secretary of the Communist Party of Vietnam Central Committee and head of its Commission for Policy and Strategy Nguyen Thanh Nghi has called on the Japan Bank for International Cooperation (JBIC), Japanese businesses and partners to continue sharing experience in effective investment cooperation models and support Vietnam in enhancing the self-reliance and resilience of its economy through high-quality Japanese investment in strategic sectors.
At a reception for Maeda Tadashi, Managing Director and Chairman of the Board of Directors of JBIC and a delegation of Japanese businesses on October 2, the official affirmed that Japan is one of Vietnam’s leading important partners in the region and the world and highly valued JBIC’s role as a bridge connecting Vietnam with Japanese capital, technology and business community, particularly in infrastructure, energy and green transition.
As a strategic advisory body to the Party Central Committee on major orientations, policies and solutions for socio-economic development, the Commission for Policy and Strategy also conducts research and analysis and provides strategic advice to the Party and State on major, long-term issues facing Vietnam. Therefore, establishing a strategic dialogue mechanism between the commission and JBIC is of great importance in strengthening substantive cooperation between the two bodies and contributing to deepening and effectively implementing the Comprehensive Strategic Partnership between Vietnam and Japan, he said.
For his part, Maeda spoke highly of Vietnam’s growth targets, saying that the strategic dialogue framework between JBIC and the commission would make a practical contribution to enhancing cooperation between Vietnam and Japan.
The two sides discussed major global trends, orientations for strengthening bilateral cooperation, and issues related to energy security and the mobilisation and attraction of international investment capital to Vietnam.
Representatives of Japanese businesses praised Vietnam’s foreign investment policies and expressed their commitment to continuing to accompany and closely coordinate with the country. They also shared Japan’s perspectives on energy transition and ensuring electricity supply in Vietnam.
Representatives of Vietnamese ministries and sectors exchanged views with Japanese businesses on issues of interest to the Japanese side.
Appreciating Japan’s analysis and sharing on major shifts in the global economic and geopolitical environment, Nghi took note of Japanese businesses’ views on ensuring electricity and energy supplies for Vietnam.
He said Vietnam’s goal is not only to ensure sufficient electricity, but also to build an energy system that is safe, stable, flexible and resilient to shocks, while keeping costs reasonable and becoming increasingly green.
Vietnam therefore needs to select solutions that match its resource-balancing capacity and development conditions, Nghi said, adding that the Vietnamese side will seriously study proposals from Japanese businesses based on Vietnam’s conditions and interests.
Nghi also highlighted several areas for cooperation in the coming period, including stronger exchanges on major shifts in the global economy and their impacts on the development strategies of the two countries; closer cooperation in science and technology, innovation and strategic industries; and greater attraction of high-quality Japanese investment to jointly develop resilient supply chains. He also called for stronger cooperation in energy and development finance.
The official proposed that Japan maintain the Strategic Dialogue as a regular mechanism for discussions on Vietnam’s long-term development issues. He also asked JBIC to help connect Vietnam with Japanese investors and businesses possessing strong financial and technological capacity to invest in energy development projects, support upgrades to Vietnam’s power transmission grid and develop large-scale renewable energy sources.
Nghi expressed his hope that JBIC and Japanese businesses will continue accompanying Vietnam not only as financiers or investors, but also as partners working with Vietnam to address long-term development challenges, thereby contributing to stronger bilateral cooperation./.
