Japan plans additional 302 mln USD in ODA for VN

News - Vietnam and Japan are hastening the preparations for the signing of a diplomatic note in May on Japan’s ODA aid of over 28 billion JPY (302 million USD) for Vietnam in the first phase of the 2010 fiscal year, according to the Ministry of Planning and Investment (MPI).

Of the total, 10 billion JPY will be provided for Vietnam to cope with climate change and the remaining monies will be injected into two of the country’s most important infrastructure projects, including the East-West Corridor and a project to improve drainage system and the environment in Ho Chi Minh City.

To promote investment and ask for Japanese support for Vietnam’s socio-economic development, MPI Minister Vo Hong Phuc will pay a seven-day visit to Japan in mid-April.

In addition to meeting with senior Japanese officials and representatives of economic and trade organisations such as the Japanese International Cooperation Agency (JICA) and the Japanese External Trade Promotion Organisation (JETRO), Minister Phuc will also meet with several leaders from large Japanese economic groups that plan to invest in Vietnam.

He will also attend a seminar entitled “Strengthening Vietnamese-Japanese Economic Relations” to call on Japanese companies to continue investing in Vietnam.

Japan has always been Vietnam’s largest provider of ODA since it resumed providing ODA to the Southeast Asian country in 1992. By the end of last year, Japan’s total pledged ODA for Vietnam had reached 1,557 billion JPY.