Vietnam and Japan promote cooperation

The working session.

Speaking at the working session, Deputy Prime Minister and Minister of Finance Ho Duc Phoc highly appreciated and believed that the cooperation between the two countries over the past 50 years has contributed to the development of the Vietnam-Japan relations in general and the Financial sector in particular.

Japan is currently Việt Nam's biggest ODA provider, and the country’s ODA projects have effectively contributed to the Vietnam’s socio-economic development.

Deputy Prime Minister and Minister Ho Duc Phoc proposed the Japanese side to continue implementing the New Generation ODA Program, and focus on four pillars approved by the two countries’ leaders, including responding to climate change; transitioning to a digital economy; developing economic infrastructure; developing and improving the capacity of the health system towards investing in large-scale programs/projects that have spillover effects and positive impacts on Vietnam's socio-economy with more preferential and flexible loan conditions and procedures than normal loan conditions.

Deputy Prime Minister and Minister Ho Duc Phoc expressed his hope that the delegators would continue to support and promote the implementation of ODA projects in the near future based on close cooperation between the two countries.

Deputy Prime Minister and Minister of Finance Ho Duc Phoc speaks at the meeting.

The Deputy Prime Minister and Minister also said that Vietnam will strengthen coordination and information exchange with Japan to remove difficulties and obstacles to foster the implementation of projects to ensure progress, promote the benefits for the Vietnam’s development; and create the best conditions, improve the business environment to attract investment from foreign enterprises in general and Japanese enterprises in particular.

On behalf of the Japanese Senate Delegation, Mr. Nakanishi Yusuke congratulated Deputy Prime Minister and Minister Ho Duc Phoc on being honored to be trusted and appointed to a new position by the Party and State of Vietnam.

Highly appreciating the importance of ODA cooperation between the two countries, the Senator affirmed that he would continue to cooperate closely and exchange regularly to further promote cooperation with Vietnam through ODA projects, thereby deepening the cooperation between Vietnam and Japan.

At the working session, the two sides discussed in detail the deployment of ODA projects as well as the orientation for effective implementation of these projects in the near future.