Vietnam makes good use of Japan’s ODA: FEC deputy chief

Hanoi (VNA) – Vietnam has effectively used Japan’s official development assistance in building infrastructure, said Vice President of the Japanese International Friendship Exchange Council (FEC) Yoshihiko Nakagaki.

Nakagaki, who has led FEC delegations to visit Vietnam several times over the past 7 years, made the comment at a meeting with Deputy Prime Minister Trinh Dinh Dung in Hanoi on October 4.

He said the good use of the ODA has contributed significantly to the country’s socio-economic development, but noted that as the Vietnamese economy expands, adjustments to the current usage are needed for better outcomes.

Deputy PM Dung said he welcomes FEC member businesses making annual visits to Vietnam to learn about local policies to attract Japanese investors and discuss measures to boost Vietnam – Japan economic ties.

Highlighting robust growth of the Vietnam – Japan extensive strategic partnership, Dung said Japan is the top ODA provider and 4th biggest trade partner of Vietnam.

Japanese investors have made good reputation in Vietnam and contributed to the local development, the official added.

He underscored the commitment by the Vietnamese Government to complete policies and legal framework that improve business climate and facilitate foreign investors, including those from Japan.

Both host and guest agreed on untapped potential for Vietnam – Japan trade cooperation thanks to prospects brought about by the formation of ASEAN Community and progressive negotiation of the Regional Comprehensive Economic Partnership (RCEP).

Established in 1983 as a non-profit international exchange organisation, FEC works on promoting friendship and cooperation between Japan and foreign countries.-VNA