Vietnamese Minister of Finance Ngô Văn Tuấn, Japanese Ambassador to Việt Nam Ito Naoki exchanged loan and aid document, witnessed by General Secretary and President Tô Lâm and Japanese Prime Minister Takaichi Sanae following their talks in Tokyo on November 9. — VNA/VNS Photo

HÀ NỘI — Việt Nam and Japan exchanged three cooperation documents on loans and grant aid in Tokyo on Monday, during the official visit to Japan by General Secretary of the Communist Party of Việt Nam (CPV) Central Committee and President Tô Lâm and his spouse Ngô Phương Ly.

According to the Vietnamese Ministry of Finance (MOF), the exchange ceremony was witnessed by General Secretary and President Tô Lâm and Japanese Prime Minister Takaichi Sanae. Vietnamese Minister of Finance Ngô Văn Tuấn, Japanese Ambassador to Việt Nam Ito Naoki and Japan International Cooperation Agency (JICA) President Tanaka Akihiko represented the parties in exchanging the documents.

The three documents comprise an Exchange of Notes between the Vietnamese and Japanese governments for the Việt Nam–Japan University construction project; an agreement between the two governments on facilitating the implementation of grant-aid projects; and a loan agreement between the Vietnamese Government and JICA for the construction of the Ô Môn III thermal power plant.

Two of the documents provide financial commitments for the Việt Nam–Japan University and O Mon III thermal power plant projects, with a combined value of more than 43.1 billion JPY (US$272.73 million). Both are considered important projects by the two governments.

The agreement on facilitating grant-aid project implementation will help improve the legal framework, simplify relevant procedures and accelerate the implementation of Japanese-funded assistance programmes and projects in Việt Nam.

The exchange of the three documents reaffirms Japan's position as one of Việt Nam's leading economic partners and reflects the strong commitment of both governments to translating high-level agreements into concrete cooperation projects, contributing to further strengthening the Việt Nam–Japan Comprehensive Strategic Partnership.

The MOF said it would continue close coordination with relevant Japanese agencies and Vietnamese ministries, sectors and localities to ensure the effective implementation of the agreements, with a focus on project progress and quality and efficient use of funds. It is expected to make practical contributions to Việt Nam's socio-economic development goals and further deepen bilateral ties in the coming years. — VNA/VNS