Hanoi and the Japan Bank for International Cooperation (JBIC) have the potential to expand cooperation in infrastructure development and high technology.

Chairman of the Hanoi People's Committee Tran Sy Thanh and JBIC Chairman of Board Maeda Tadashi at the meeting. Photos: The Hanoi Times

This view was shared during a meeting between Hanoi People’s Committee Chairman Tran Sy Thanh and JBIC Chairman of Board Maeda Tadashi today [December 5].

At the meeting, Hanoi’s Mayor Thanh welcomed Tadashi and his delegation during their visit to Vietnam. He expressed his high appreciation for JBIC's positive contributions, as well as Tadashi’s personal efforts, to the socio-economic development of Vietnam in general and Hanoi in particular.

Emphasizing the importance of improving the city’s transportation infrastructure and living environment, Thanh highlighted the need for strong support in implementing environmentally friendly projects. These include water and air quality improvement, waste management, and urban governance.

He also reaffirmed Hanoi’s target of achieving green and efficient public transportation by 2035.

“To realize these goals, the National Assembly passed the Capital Law last June, which grants Hanoi greater autonomy in making investment decisions. This allows the city to proactively manage financial resources, including access to loans,” Thanh said.

According to Thanh, the Vietnamese Government is actively learning from Japan, South Korea, and China by considering raising the public debt ceiling to boost infrastructure investment.

Overview of the meeting.

“Hanoi has successfully operated numerous investment projects from Japan and continues to create the best possible conditions for Japanese investors to participate in infrastructure and technology development projects,” Chairman Thanh said.

JBIC Chairman Maeda Tadashi thanked Hanoi for its support and shared the bank’s new direction, which focuses on increasing investments instead of traditional lending. He revealed that JBIC has set up investment funds to mobilize capital for new projects, including support for startups.

Maeda acknowledged the low survival rate of startups, around 3%, but highlighted JBIC's early successes in IT projects in Northern Europe. The bank has also established large-scale funds like Ninja to support startups.

JBIC is also investing in renewable energy and environmental technologies, aligning with Hanoi’s focus on improving living conditions and promoting digital transformation.

Chairman Thanh assured that Hanoi is ready to provide transparent and open information to help investors identify and select projects. He emphasized the strong, reliable relationship between Hanoi and Japanese organizations and businesses.

JBIC Chairman Maeda Tadashi reiterated the bank’s commitment to building mechanisms to implement the ideas discussed and expressed the desire to launch more projects in Vietnam. He also mentioned the application of new technologies like artificial intelligence and big data to analyze and develop projects, particularly in transportation and real estate.

Going forward, JBIC aims to bring advanced technologies to Vietnam to support digital transformation and environmental protection. Maeda noted that this includes robotics, biometric recognition, and facial recognition technologies to enhance security and efficiency in building management.

The meeting between Chairman Tran Sy Thanh and JBIC Chairman Maeda Tadashi is expected to open up numerous opportunities for cooperation in infrastructure and technology development in Hanoi. This collaboration not only improves the city’s transportation infrastructure and living environment but also strengthens investment ties between Vietnam and Japan, paving the way for sustainable and modern development.