Japan Bank for International Cooperation (JBIC) and Vietnam Prosperity Joint Stock Commercial Bank (VPBank) will deploy $27 million in financing for a power transmission project under the Asia Zero Emission Community (AZEC) framework, JBIC Chairman Maeda Tadashi said during a meeting with Party General Secretary and President To Lam in Hanoi on October 1.
At the meeting, the top Vietnamese leader called on JBIC to continue serving as a bridge connecting Japanese financial resources with Vietnam’s development needs, particularly for high-quality investment in infrastructure, semiconductors, AI, data centers, batteries, new materials and critical minerals.
He also urged JBIC to share its experience in developing and managing financial centers and encourage Japanese financial institutions and banks to participate in Vietnam's newly established International Financial Center, headquartered in Ho Chi Minh City and Da Nang.
On energy cooperation, the Vietnamese leader asked JBIC to support the implementation of projects under AZEC and explore cooperation through POWERR Asia, including the development of strategic energy reserves.
Mr. Maeda, for his part, said JBIC attaches importance to the Vietnamese market and wants to work closely with Vietnamese agencies and businesses on specific projects. Its areas of interest include AI, semiconductors, digital transformation, green transition, robotics and energy, which align with Vietnam’s development priorities.
He said JBIC is also interested in power projects to ensure stable electricity supplies for the development of robotics and physical AI. Japan is ready to share experience and support Vietnam in developing crude oil reserves under the POWERR Asia initiative.
Google translate