Japanese investors keen on PPP cooperation

(VOV) - Representatives from Vietnam’s Ministry of Planning and Investment and the Japan Bank for International Cooperation (JBIC) met in Hanoi on July 16 to discuss issues on public-private partnership (PPP) cooperation in Vietnam.

Deputy Minister of Planning and Investment Dao Quang Thu said that Japan is Vietnam’s leading investor and trade partner. The two governments  have always promoted economic relations and have agreed to bring cooperative results to a new height, especially after the two countries became strategic economic partners.

Thu added that Vietnam is in the process of industrialisation and modernisation and has sought human resources to fulfill growth targets in both private and foreign-invested sectors through regulations in accordance with international norms.

Therefore, the formulation of investment mechanisms under the PPP form, especially PPP decree is expected to be submitted to the Government for issuance next month.

JBIC Governor Hiroshi Watanabe emphasised that Japanese businesses placed trust in the future of Vietnamese economy and seek opportunities to implement investment projects in Vietnam including the PPP projects.

At present, some Japanese economic groups are in the negotiation process to invest in some thermal power projects such as Nghi Son 2, Vung Ang 2 and Van Phong 1. JBIC is likely to provide funding to these feasible projects, he added.  

The JBIC Governor has affirmed that JBIC has had experiences to fund projects under the PPP form and is expected share with Vietnam’s relevant agencies to speed up the formulation of regulations to carry out PPP projects in Vietnam.

After the issuance of the PPP decree, capital sources from the private sector, especially foreign investors are forecast to increase remarkably with a focus on projects on transport infrastructure and energy.