Vietnam, Japan ministers of finance chart next phase of cooperation

Vietnam, Japan ministers of finance chart next phase of cooperation

The ministers of finance of Vietnam and Japan have held bilateral talks in Tokyo to review and advance economic and financial cooperation between the two countries.

Minister Ngo Van Tuan and Minister Katayama Katsuki. Photo: Thu Tra

Minister of Finance Ngo Van Tuan met his Japanese counterpart Katayama Katsuki on November 10, with the two sides discussing cooperation between their ministries in the new development phase. They also exchanged views on socioeconomic development in their respective countries, bilateral cooperation within the ASEAN–Japan framework, and various multilateral initiatives.

The two ministers expressed their satisfaction with the strong, substantive and effective development of the Comprehensive Strategic Partnership between Vietnam and Japan across all fields. Japan continues to maintain its position as one of Vietnam's leading and most important economic partners.

A notable demonstration of their close financial cooperation was the exchange of diplomatic notes and the signing of Official Development Assistance (ODA) loan agreements for two major projects in education and training and energy, with a combined value of more than $270 million, in the presence of senior leaders of both countries.

Alongside traditional areas of cooperation, such as ODA and investment, the two ministers highlighted substantial potential for further collaboration in strategic economic sectors, including minerals, energy, energy security and industrial development associated with the green transition.

Both sides agreed to leverage their complementary strengths to promote practical cooperation projects that deliver balanced and sustainable benefits to both countries.

Regarding multilateral cooperation, the ministers spoke highly of bilateral coordination within the ASEAN-Japan framework and at international forums, helping strengthen the two countries' voices on regional development issues.

Minister Katsuki briefed his Vietnamese counterpart on preparations for the 2027 Annual Meeting of the Asian Development Bank and formally invited Minister Tuan to attend.

In response, Minister Tuan thanked his Japanese counterpart for the invitation and took the opportunity to invite Minister Katsuki to visit Vietnam to attend the 2027 APEC Finance Ministers' Meeting. The Japanese minister gladly accepted the invitation.

Concluding the meeting, the two ministers agreed to continue working towards translating the Joint Vision Statement on a partnership of companionship, co-creation and mutual benefit, aimed at achieving high-quality growth, strategic autonomy and resilience, into concrete actions, making financial cooperation an important driving force for the prosperity of both nations.

VIR