Prime Minister Pham Minh Chinh receives Japanese Finance Minister Kato Katsunobu

Prime Minister Pham Minh Chinh proposed that Japan provide financial support and promote new-generation ODA for Vietnam to implement strategic infrastructure projects that can change the status quo and turn the situation around.

On the afternoon of January 8, receiving Japanese Finance Minister Kato Katsunobu who is visiting and working in Vietnam, Prime Minister Pham Minh Chinh proposed that Japan provide financial support and promote new-generation ODA for Vietnam to implement strategic infrastructure projects that are status-changing and situation-changing.

Welcoming the delegation of the Japanese Ministry of Finance to visit Vietnam, the Prime Minister was pleased to witness the increasingly strong, substantive and effective development of the relationship between the two countries in all fields.

In 2023, the two countries upgraded their relationship to a Comprehensive Strategic Partnership for peace and prosperity in Asia and the world. Leaders of the two countries regularly meet with high political trust.

Japan continues to be Vietnam's leading economic partner, the largest provider of bilateral ODA loans and aid, the first labor cooperation partner, the third investor, and the fourth trade and tourism partner of Vietnam.

The Vietnamese community living, studying and working in Japan currently has about 600,000 people, making it the second largest foreign community in Japan. Cooperation between localities is bustling, and people-to-people exchanges between the two countries are vibrant. Defense and security cooperation is strengthened...

Affirming that financial cooperation is an important pillar in the bilateral relationship, the Prime Minister appreciated Japan's effective financial support for Vietnam to implement large-scale infrastructure investment projects with great spillover effects, such as Nhat Tan Bridge, Terminal T2 of Noi Bai International Airport and most recently, Ho Chi Minh City Metro Line No. 1 (Ben Thanh - Suoi Tien) which officially entered commercial operation at the end of December 2024.

The Prime Minister said that recently, the parties have carried out many restructuring measures to improve the operational efficiency of the Nghi Son oil refinery project (Thanh Hoa) and have had initial results.

At the same time, the Minister is requested to have a voice to encourage the Japan Bank for International Cooperation (JBIC) to be more active in participating in restructuring this project in the spirit of harmonizing interests and sharing risks so that the project can truly be a symbol of effective cooperation and mutual benefit between the parties.

According to the Prime Minister, Vietnam is in need of large capital for development, implementing projects at a fast and effective pace, striving for GDP growth of at least 8% in 2025, reaching double digits in the following years to achieve the country's development goals by 2030 and 2045. Therefore, cooperation and support from international partners, including Japan, are needed.

In the spirit of a "sincere, affectionate, and trustworthy" relationship, the Prime Minister proposed that Japan continue to provide financial support and promote new-generation ODA for Vietnam in line with the current situation with preferential interest rates, simple mechanisms, flexible procedures, and quick implementation to carry out strategic infrastructure projects that change the status quo and turn the situation around, especially the North-South high-speed railway project, nuclear power, and urban railway projects in Hanoi and Ho Chi Minh City.

Along with that, Japan continues to cooperate in technology transfer, support the building and improvement of institutions, human resource training, and improvement of management capacity on a larger scale, faster speed, wider scope, with focus, key points, and concentration on a number of large projects.

At the same time, promote investment and trade cooperation, exchange of strong products of both sides; cooperation between localities; cooperation in science and technology, innovation, digital transformation, exploitation of underground space, sea space, outer space, etc.

Thanking the Japanese Government for providing scholarships, receiving and training trainees, and providing aid to Vietnam to support recovery after the impact of storm No. 3, the Prime Minister suggested continuing to promote cooperation in the field of education and training.

At the same time, he hoped that Japan would continue to create favorable conditions for the Vietnamese community to live, study and work in the country; support Vietnam in infrastructure development projects, disaster risk response, climate change, projects under the Just Energy Transition Partnership (JETP) and the Asia Zero Emission Community (AZEC) mechanism, etc.

The Prime Minister said that Vietnam will prepare a list of specific projects for Japan to study and implement cooperation, strongly promote the activities of the specialized working group on cooperation with Japan, contributing to further developing the friendly cooperation and comprehensive strategic partnership for peace and prosperity in Asia and the world between Vietnam and Japan, in depth, substance and effectiveness.

Minister Kato Katsunobu highly appreciated Prime Minister Pham Minh Chinh's affection for Japan and his important contributions to bilateral relations; affirmed that Vietnam is very close to Japan and him personally.

Expressing his impression of Vietnam's high growth rate and assessing that Vietnam is in the golden population stage with many development opportunities, the Minister affirmed that he will actively support and promote mutually beneficial cooperation in areas of mutual interest, especially the contents mentioned by the Prime Minister.

The Minister said that Japan is continuing to review favorable policies for foreigners, in which Vietnamese people account for about 1/4 of the total number of foreigners in Japan and have made many positive contributions to the country.

He suggested that both sides make more efforts to resolve difficulties, promote existing projects and implement new projects; affirmed that they will continue to report to the Japanese Government, discuss with businesses about cooperation with Vietnam in strategic infrastructure projects; discuss with JBIC about the content mentioned by the Prime Minister related to the Nghi Son project.

On this occasion, Prime Minister Pham Minh Chinh conveyed his regards and invitation to Prime Minister Ishiba Shigeru to visit Vietnam at the earliest.

Minister Kato Katsunobu conveyed Japanese Prime Minister Ishiba Shigeru's greetings and regards to Prime Minister Pham Minh Chinh and said he would convey Prime Minister Pham Minh Chinh's invitation to visit to Prime Minister Ishiba Shigeru./.

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