Ho Chi Minh City proposes JBIC set up office to boost investment ties

The proposal was made on Thursday during a meeting between Tran Thi Dieu Thuy, vice-chairwoman of the municipal People's Committee, and a JBIC delegation led by Sakuma Kazuko, who is resident executive director and regional head for Asia and Pacific.

JBIC, a government-backed financial institution, specializes in international development finance, offering concessional loans for global projects and supporting Japanese businesses overseas, especially in strategic sectors in developing countries.

Thuy praised JBIC's contributions to Vietnam, noting that as of June 2025, the bank had provided 951 billion yen (US$6.4 billion) for 353 projects in Vietnam, including more than 80 in Ho Chi Minh City.

She stressed the city's appreciation for JBIC's diverse financing models, which support both public and private sector projects.

She expressed hope that JBIC would co-host investment promotion conferences in the city, focusing on green transition and sustainable development.

"If JBIC and the city organize specialized conferences with Japanese businesses here, our relations will advance beyond the current 80 projects," Thuy said.

She added that a local JBIC office would further streamline coordination.

The vice-chairwoman also voiced the city's interest in joining JBIC's Asia Zero Emission Community initiative to gain access to Japanese partners, technology, and financial resources in pursuit of net-zero goals.

Kazuko congratulated Ho Chi Minh City on its recent administrative restructuring and affirmed JBIC's view of Vietnam as a priority country, particularly in heavy industry, manufacturing, and energy.

She said JBIC was keen to support the city in areas such as digital transformation, green transition, and energy development.

Aguin Toru, JBIC's chief representative in Hanoi, added that as Vietnam moves toward high income status, JBIC remains a strong partner for private sector loans involving both Vietnamese and Japanese enterprises.

He encouraged the city to act as a bridge between foreign investors and JBIC.