(MPI Portal) – On March 31st 2015, in Hanoi, Minister of the MPI Bui Quang Vinh on the behalf of Vietnam Government and Japanese Ambassador extraordinary and plenipotentiary Hiroshi Fukada on the behalf of Japan Government signed exchange of notes of Japanese ODA loan worth 112.414 billion Yen in fiscal year 2014.

Minister of the MPI Bui Quang Vinh and Japanese Ambassador extraordinary and plenipotentiary Hiroshi Fukada at the signing ceremony. Photo: Duc Trung (MPI Portal)

This Japanese ODA loan will assist Vietnam in seven programs and projects that are aimed for infrastructural comprehensive development such as construction of the Ben Luc – Long Thanh section of the north-south expressway, the Thai Binh 1 thermo-power plant and its power transmission line, a credit project for power networks, the second stage of the Nhon Trach water supply project, water drainage and treatment in Ha Long city, upgrades to Can Tho university, and the fifth cycle of a climate change response program.

Speaking at the signing ceremony, Minister Bui Quang Vinh said that over the past 20 years, Japan has always been the largest donor of ODA for Vietnam with big infrastructure projects. With  112.414 billion Yen of ODA loan today, Japanese ODA for Vietnam including non-refundable ODA and ODA loans has been 2,500 billion Yen (since 1992).

On the behalf of the Government, the Minister highly appreciated Japanese assistance and expected to receive more ODA in the future. Vietnam committed to use the aid for the right purpose and achieve the highest efficiency.

Ambassador Hiroshi Fukada revealed that the diplomatic note has shown the Japanese Government’s assistance for Viet Nam to be expanded beyond infrastructure upgrades to education and health.

He said that Vietnam needs to mobilize private sector in infrastructural development. To use ODA effectively, Japan and Vietnam should transfer technology and train human resource. He affirmed that Japan Government would coordinate with Vietnam Government to deploy the projects effectively./. 

Nguyen Huong

MPI Portal