Dialogue discusses PPP projects in Vietnam

The event was co-chaired by Minister of Planning and Investment (MPI) Bui Quang Vinh and Japan Bank for International Cooperation (JBIC) General Director, Hiroshi Wantanabe, along with related representatives.

Addressing the dialogue, Minister Bui Quang Vinh emphasised that the friendship and cooperation between Vietnam and Japan has developed well and seen remarkable milestones across many fields.

He highlighted Japan’s support, especially in strengthening cooperation between the private sector and the State sector to develop Vietnam’s infrastructure. Japan is now Vietnam’s largest Official Development Assistance (ODA) provider and the biggest national investor.

Vinh also spoke highly of JBIC’s contribution to infrastructure projects with the involvement of a number of international partners. JBIC has been a solid contributor to Vietnam’s socio-economic development and plans to support further trade and investment activities for Vietnam shortly. He expressed his hope that the PPP model will be further promoted in the near future.

For his part, JBIC General Director Wantanabe said that cooperation between the two countries has been strengthened for over a decade and Japanese businesses have been operating well in Vietnam.

Governments world-wide have slashed their expenditure, so both parties will have to mobilise capital from the private sector. Accordingly, JBIC will recommend businesses to invest in Vietnam, especially in PPP projects.

Mr Wantanabe emphasized that JBIC hopes to tap its full potential in Vietnam and make greater efforts to remove hurdles. He also stressed that each ministry and locality should cooperate to conduct research on PPP models operating in developed nations to learn about the most effective way to implement PPP cooperative projects in Vietnam.

During the event, both sides agreed on the importance of promoting PPP projects, as well as the need to collect opinions on their form.  JBIC’s experiences in Vietnam was and other nations is seen as invaluable in order to meet the country’s huge demand in the development of infrastructure and industry.

During the event, both sides signed a memorandum of understanding (MoU) to promote PPP cooperative projects in the future.