The Japanese government has agreed to grant 202.926 billion yen (more
than $2 billion) in official development aid to Vietnam in the 2012–2013 fiscal
year.
The agreement formalising the
pledge was signed in Hanoi on March 22 by Japanese Ambassador to Vietnam
Tanizaki Yasuaki and Vietnamese Minister of Planning and Investment Bui Quang
Vinh.
Under the agreement, 12
Japanese-funded projects, worth a total $2.16 billion, are seeking the
participation of Japanese bidders.
Eleven of these projects are
expected to receive investment capital through the Japan International
Cooperation Agency (JICA), about to sign its own funding agreement with the
Vietnam Ministry of Finance. The remaining project - the first phase
construction of the O Mon 3 thermal electric power plant - will need to wait for
loans because of certain procedures as yet incomplete.
Four of the projects will enjoy a
preferential interest rate of 0.2 percent/year. These include the construction
of Cai Mep Seaport in Ba Ria-Vung Tau, the construction of the Nhat Tan bridge
and urban railway route in Hanoi, and the upgrade of the Hanoi-HCM City railway
route. However, all four of the preferenced projects must involve Japanese
bidders in accordance with the special condition the JICA imposes on its
economic partners.
Another project on climate change
adaptation will also receive an incentive interest rate of 0.3 per cent/year
over a period of 30 - 40 years.
The remaining projects will
accept the standard rate of 1.4 per cent/year.
Japan resumed its ODA loans to
Vietnam at the end of 1992 and is currently the Southeast Asian country’s
largest ODA donor. So far, nearly 2,118 billion Japanese yen in ODA has been
granted to Vietnam, primarily in the fields of infrastructure development and
climate change response.
VOV
Business & Investment Opportunities
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