Vietnam and Japan exchange key cooperation documents worth over $272 million

Vietnam and Japan exchange key cooperation documents worth over $272 million

Alongside General Secretary and State President To Lam and Japanese Prime Minister Takaichi Sanae, Vietnamese Minister of Finance Ngo Van Tuan, Japanese Ambassador to Vietnam Ito Naoki, and Japan International Cooperation Agency President Tanaka Akihiko exchanged cooperation documents in Tokyo on November 9.

Vietnam and Japan exchange key cooperation documents worth over $272 million. Photo: VNA

The documents exchanged included an exchange of notes between the government of Vietnam and the government of Japan on an ODA loan for the construction of the Vietnam Japan University; a framework agreement between the government of Vietnam and the government of Japan on the implementation of Japanese grant aid projects; a loan agreement between Vietnam and JICA for the construction of the O Mon 3 Thermal Power Plant project.

Of the three documents, two provide funding commitments for the Vietnam Japan University construction project and the O Mon 3 Thermal Power Plant project, with a combined value of more than $272.4 million. Both projects are considered particularly important by the governments of the two countries.

The Vietnam Japan University project is significant for developing high-quality workers and strengthening bilateral cooperation in education, training and scientific research. It is expected to help train highly qualified professionals capable of meeting Vietnam's development requirements in the new era.

Meanwhile, O Mon 3 Thermal Power Plant is one of Vietnam's key energy projects. It will help increase electricity supply to the national power system, ensure energy security and meet electricity demand for socioeconomic development, particularly in the Mekong Delta.

In addition, the agreement on facilitating the implementation of grant aid projects will help improve the legal framework, simplify and accelerate relevant procedures, and enhance the effectiveness of Japanese aid programmes and projects in Vietnam.

The signing and exchange of these documents reaffirm Japan's position as one of Vietnam's leading economic cooperation partners, while demonstrating the strong determination and commitment of both governments to translating high-level agreements into concrete action and accelerating the implementation of key cooperation projects. These efforts will contribute to strengthening the Comprehensive Strategic Partnership between Vietnam and Japan.

The Vietnamese Ministry of Finance will continue to work closely with Japanese agencies, as well as Vietnamese ministries, sectors and localities, to ensure the effective implementation of the documents signed and exchanged during the visit.

The ministry will focus on ensuring project progress, quality and the effective use of funding, thereby making practical contributions to Vietnam's socioeconomic development objectives and deepening Vietnam-Japan cooperation in the years ahead.

VIR