JBIC chairman lauds Hanoi's promising investment environment

Tadashi made the comment during a meeting with Tran Sy Thanh, Chairman of Hanoi People’s Committee, on December 5.

Welcoming Maeda Tadashi and his delegation to Hanoi, Thanh expressed his appreciation for JBIC's contributions, particularly those of its chairman, to the socioeconomic development of both Vietnam and its capital.

The Hanoi leader shared that, in alignment with the nation's accelerated development efforts, the capital has outlined a roadmap featuring key objectives for the next 10-15 years. Key projects include constructing 400km of urban railways and improving the city’s environment towards a green and clean future. Highlighting the enormity of these tasks, he emphasised that despite Hanoi's preparations, international support would be crucial.

Chairman Thanh welcomed JBIC's proposals for collaboration and resources. He noted that Hanoi’s experience in executing projects funded by Japanese sources would serve as a solid foundation for future partnerships. Furthermore, he reaffirmed Hanoi’s commitment to maintaining an optimal investment environment for foreign partners.

Tadashi emphasised that Hanoi represents a prime example of Vietnam’s investment potential, citing numerous JBIC-funded projects already underway. He outlined JBIC's focus areas, including indirect investments through funds aimed at fostering opportunities for startups and unlisted enterprises.

The JBIC chairman also introduced diverse collaboration models the bank could support, spotlighting areas such as technology, real estate, renewable energy, the environment, circular economy solutions, data centres, and AI applications. Additionally, he highlighted JBIC’s loan packages, including those designed for local governments without the need for guarantees, and shared the bank’s recent initiatives to support Japanese businesses in overseas investments.

Praising Hanoi’s promising investment landscape amidst its accelerated growth phase, Maeda expressed optimism about future cooperation opportunities. He reiterated JBIC’s readiness to contribute to innovative business and development models.

In response, Thanh noted the alignment between JBIC's strengths and areas of interest and Hanoi’s ongoing initiatives, indicating significant potential for collaboration. He welcomed JBIC’s ideas and assured that the city would facilitate information sharing to support the bank in identifying and selecting future investment projects.

During their discussions, both sides exchanged views of shared concerns. The Japanese delegation expressed aspirations to support Vietnam's development through cutting-edge technologies such as robotics, AI, digital governance solutions, and smart devices.

VPBank and the Japan Bank for International Cooperation (JBIC) signed a general agreement for a credit line totalling $150 million on October 9.

Vietnam has the potential to increase its foreign investment inflows thanks to the increasing capital plans of major corporations.

Hanoi is enhancing efforts to attract investment in digital technology, high technology, and electronic industry products, along with related ecosystems through the Hanoi Digitech 2024 event set to take place in the capital city.