Deputy Minister of Finance Tran Quoc Phuong met with Hayakawa Yuho, Senior Vice President of the Japan International Cooperation Agency (JICA), in Ha Noi to talk about enhancing collaboration between the two parties.
The deputy minister remarked that relations between Vietnam and Japan have significantly progressed in recent years, especially after visits by high-ranking officials from both nations.
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Japan continues to be one of Vietnam’s top economic partners, holding the first position in official development assistance (ODA) and labor cooperation, the third in investment, and the fourth in bilateral trade.
In Japan’s fiscal year 2025, both parties signed three loan agreements totaling almost 90 billion JPY (566.28 million USD). Phuong stated that the Vietnamese Ministry of Finance values JICA's strong and efficient collaboration, which played a key role in the successful finalization of these agreements.
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On this occasion, the official urged JICA and Hayakawa personally to maintain close collaboration with the ministry and pertinent agencies of Vietnam to further improve ODA cooperation in a way that benefits both nations.
Hayakawa lauded Vietnam’s socio-economic accomplishments. He mentioned that between 2002 and 2006, he was in Ha Noi, where he contributed directly to the creation of the nation's five-year socio-economic development plan and collaborated with development partners to gather international resources, especially for poverty alleviation initiatives.
The JICA Senior Vice President stated that Viet Nam's development achievements have shown that the agency's prior cooperation and assistance strategies were suitable and successful.
Building on that groundwork, JICA aims to keep supporting the country in the next phase of development through a more strategic and long-term method.
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During the meeting, the host and guest also talked about a series of upcoming collaboration initiatives and projects.
The JICA representative confirmed that the agency will maintain close collaboration with the Vietnamese ministry’s department of debt management and external finance to develop, enhance, and efficiently execute future projects.
In the meantime, Phuong expressed appreciation for JICA’s suggestions and collaboration directions, confirming that the ministry will ensure strong coordination with the Japanese agency to turn these proposals into tangible actions, thus aiding Vietnam’s socio-economic progress in the upcoming years.