31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
US, Japan and Australia to form supply chains in Vietnam
Ngoc Thuy 16:35, 2020/10/31
Three major financial institutions, namely JBIC, DFC and EFA, are committed to providing financial support for infrastructure and energy projects in Vietnam.

The governments of the US, Japan and Australia are taking steps to invest in the development of infrastructure and form supply chains in Vietnam, according to Nguyen Van Binh, head of the Party Central Committee’s Economic Commission.

 Head of the Party Central Committee’s Economic Commission Nguyen Van Binh at the online meeting. Photo: VGP. 

Vietnam expects economic cooperation to become a major pillar in the country’s relations with the three countries on the basis of equality and mutual benefit, stated Mr. Binh in an online meeting with leaders of the Japan Bank for International Cooperation (JBIC), the US International Development Finance Corporation (DFC), and the Export Finance Australia (EFA) on October 30.

Vietnam attaches importance to its cooperation with the US, Japan and Australia, especially as the relations are growing strongly and contributing actively to ensuring peace, stability and prosperity in the region.

 Leaders of financial institutions attended the online meeting. Photo: VGP. 

According to Mr. Binh, Vietnam remains steadfast in perfecting the legal framework and the business environment to attract investment capital from the private sector and abroad in infrastructure development.

Vietnam is willing to create favorable conditions for enterprises with high credibility and technological capabilities from the US, Japan and Australia to invest in high quality and sustainable infrastructure projects in the country, he noted.

Mr. Binh expected JBIC, DFC and EFA to continue providing financial support for major infrastructure projects and the development of supply chains in Vietnam, as well as serving as bridges between Vietnamese enterprises and those in the three countries in these fields.

 Overview of the online meeting from Hanoi. Photo: VGP. 

At the meeting, leading officials from the three financial institutions expressed their strong commitment to further cooperation with Vietnam in the infrastructure and energy fields.

Representatives of JBIC, DFC and EFA also suggested Vietnam continue finalizing pieces of legislation related to the public-private partnership (PPP) to help foreign investors, especially those from the US, Japan and Australia, to take part in infrastructure and energy projects, as well as form supply chains in the country.

TAG: Vietnam United States Japan Australia JBIC DFC EFA supply chains investment cooperation economic
Other news
21:26, 2022/26/18
Vietnamese travel businesses boost linkages to lure Indian tourists
The successive opening of direct flights connecting famous tourist destinations between the two countries is paving the way for travel to boom.
21:18, 2022/18/18
Vietnam seeks revision of EAEU FTA to boost trade with Kazakhstan
Since the launch of the EAEU in 2016, bilateral trade turnover has been on a steady rise and reached $630 million in 2021, nearly tripled that of in 2016.
18:36, 2022/36/18
Vietnam deploys diverse solutions to revive tourism industry
Hanoi will play a key role in connecting visitors to tourist destinations in Vietnam.
15:16, 2022/16/18
Vietnam remains SEA’s third largest bubble tea market: Report
Traditional big in coffee culture (2nd largest coffee producer in the world after Brazil, bubble tea has gained prominence in recent years with the influx of bubble tea brands.
17:10, 2022/10/17
Vietnam’s businesses urged to stay active in FTA utilization
These FTAs have laid the foundation for local businesses to expand their markets and further integrate into the global value chains.
15:10, 2022/10/17
Vietnam's master plan needs to stay in line with 2045 development goals: WB
The key challenge is to link the national master plan with those of economic sectors, fields, and provinces/cities