Vietnam ranks second in the world in receiving JICA's private sector investment funding.

On the morning of October 17, in Hanoi, the Japan International Cooperation Agency (JICA) held a mid-term press conference for fiscal year 2024 to inform about the results of operations in the second half of fiscal year 2023 and the first half of fiscal year 2024.

Chief Representative of JICA Vietnam Office Sugano Yuichi speaks at the Press Conference. (Photo: Hai An)

Speaking at the event, Chief Representative of JICA Vietnam Office Sugano Yuichi said: “In 2023, marking the 50th anniversary of the establishment of diplomatic relations between Japan and Vietnam, the two countries agreed to upgrade their relationship to Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World in November. On the basis of that friendly relationship, JICA has made efforts to implement projects to support Vietnam's economic development.”

According to Mr. Sugano Yuichi, in the Japanese fiscal year from April 2023 to March 2024, JICA Vietnam signed loans worth a total of 102.2 billion Yen (equivalent to 678 million USD), excluding investment funding for the private sector, reaching the highest level in the past 6 years since 2017. Technical cooperation reached 5.2 billion Yen (equivalent to 35 million USD), the largest scale in the world in the same fiscal year. Non-refundable aid reached 1.1 billion Yen (equivalent to 7.5 million USD) in committed capital.

The Chief Representative of JICA Vietnam Office assessed that the above programs and projects have timely supported Vietnam's economic recovery after the Covid-19 pandemic and contributed to both economic infrastructure and human resource development, creating a foundation for economic growth in the medium and long term. Japanese people and businesses continue to show great interest in Vietnam, a country that has continuously maintained stable and sustainable growth.

According to Mr. Sugano Yuichi, Vietnam is the leading country among the countries that JICA is implementing cooperation with, sending 45 Japan Overseas Cooperation volunteers, 36 business investment projects of Japanese small and medium enterprises in the field of sustainable development (SDGs), and 24 grassroots technical cooperation projects (Development Partnership Program).

In addition, Vietnam is the second country in the world with 9 projects under JICA's Private Sector Investment Financing program. The world's number 1 country in receiving funding from JICA and the private sector is currently Brazil.

For each specific project, JICA focuses on three key pillars, including high-quality growth, support for vulnerable groups, and human resource development.

In the pillar of high-quality growth , Mr. Sugano Yuichi informed about the Binh Hung wastewater treatment plant in Ho Chi Minh City, inaugurated in August 2024. At the time of inauguration, this was the largest wastewater treatment plant in Vietnam and was expected to improve water pollution. In addition, JICA is also implementing the construction of the Yen Xa wastewater treatment plant, the largest in Hanoi, which is expected to be completed in the near future.

In addition, the Metro Line 1 project in Ho Chi Minh City, which has attracted much attention, has also begun testing and Ho Chi Minh City is urgently preparing to soon put this urban railway line into operation.

In the pillar of supporting vulnerable groups , JICA Vietnam coordinated with a Senior Expert - Advisor on Disaster Risk Management assigned to the Ministry of Agriculture and Rural Development of Vietnam to support the response to Super Typhoon Yagi, which recently made landfall in the northern region, causing heavy losses in human lives and property. Eight days after the typhoon made landfall, JICA promptly provided emergency relief goods including water purifiers and plastic sheets to 2,000 households in Yen Bai province, one of the most severely affected provinces.

In addition, within the framework of the technical cooperation project to enhance capacity to reduce flash flood and landslide risks in the Northern region, the Sabo dam to help reduce landslide risks has been under construction since September in Son La province.

In the field of medical and health care, JICA is preparing to implement a new technical cooperation project to strengthen the prevention of viral hepatitis - a common infectious disease in Vietnam. In addition, within the framework of the non-refundable aid project, in May 2024, JICA Vietnam signed an aid agreement and is currently implementing the Project to Upgrade Medical Equipment at K Hospital, to contribute to meeting the increasing demand for cancer diagnosis and treatment.

Regarding the human resource development pillar, 2024 marks the 10th anniversary of the establishment of Vietnam-Japan University. In July, the first undergraduate students graduated, and there are currently 1,110 students studying, including graduate students. In addition, under the JICA Chair Program to promote Japanese studies, JICA is collaborating with the Vietnam Academy of Social Sciences (VASS) to compile a monograph for students to provide an overview of the history of Japan-Vietnam relations, and the book is expected to be published in the near future.

The Head of the JICA Vietnam Representative Office said that in the coming time, the agency will continue to promote projects to further strengthen Japan-Vietnam relations in the next 50 years.

Completed projects and ongoing projects by type of cooperation (from October 2023 to September 2024):

ODA loan cooperation:

- 2 completed projects, 23 projects in progress

- Committed capital: 102,207 billion Yen (about 678 million USD)

Technical cooperation:

- 5 completed projects, 33 projects in progress.

- Total cost: 5.219 billion Yen (about 35 million USD)

- Number of people participating in training in Japan: 569

- Number of experts sent to Vietnam: 636

Non-refundable aid:

- 1 completed project, 4 projects in progress

- Committed capital: 1,133 billion Yen (about 7.5 million USD)

Program proposed by Japanese private enterprises: 12 completed projects, 36 projects under implementation (including 8 new projects).

Development Partnership Program: 2 completed projects, 30 ongoing projects (including 3 new projects).

Japan Overseas Cooperation Volunteer Program: 17 volunteers returned home after completing their term, 23 new volunteers were dispatched. Currently, there are 45 volunteers active.

Source: https://baoquocte.vn/viet-nam-dung-th-2-the-gioi-ve-nhan-tai-tro-dau-tu-cho-khu-vuc-tu-nhan-cua-jica-290379.html