Prime Minister Phạm Minh Chính at a meeting with Japanese investors. VNA/VNS Photo

HÀ NỘI —  Prime Minister (PM) Phạm Minh Chính had a business lunch on Wednesday with leading Japanese investors, during which the issue of Official Development Assistance (ODA) was discussed.

PM Chính told the Japanese investors: "Soon there will be a new generation of ODA, with new content and new ways of doing things, to further improve its effectiveness." 

Japan is currently one of the largest investors in Việt Nam with about 4,800 projects, totalling over US$65 billion of investment. Japanese tourists are the third-highest number of visitors to Việt Nam and the country has a trade turnover of more than $40 billion. 

The Prime Minister believes that two-way trade between the two countries will grow even more.

PM Chính said Việt Nam's focuses are to prioritise green development, living in harmony with nature, reducing the impacts of climate change, and enhancing digital transformation.

“We are determined to continue implementing three strategic breakthroughs: an institutional breakthrough associated with administrative reform that reduce costs for people and businesses; training high-quality human resources, and improving infrastructure while adapting to climate change,” he said.

“In order to do so, we determine that the internal forces - nature and historical traditions - are decisive, but external forces are also important. Those are capital, technology, and management,” PM Chính said, adding that Việt Nam expects to learn from Japanese investors who have been successful in the Vietnamese market.

Answering specific questions about the issues that Japanese investors are interested in, such as land policies for infrastructure, railway transport, development orientations for energy industries, and smart cities, the Prime Minister said urban development is the driving force behind growth.

He said Việt Nam does not distinguish between public and private investors, as long as they comply with the law so that resources can be effectively mobilised.

Regarding the draft Power Development Planning VIII, the Prime Minister said that the Government is consulting scientists and businesses to finalise and carefully calculate the structure of sources, transmission, distribution and efficient use, but the priority goal of developing renewable energy is obvious, he said. Việt Nam is completing the bidding and auction mechanism to facilitate the market and create the most favourable conditions for investors. VNS