Ambassador Naoki Ito (centre) with guests at the reception ceremony on November 28 in Hà Nội. Photo courtesy of the Embassy of Japan

HÀ NỘI — The Embassy of Japan in Việt Nam hosted a reception on November 28 in Hà Nội to celebrate the 20th anniversary of the Japan–ASEAN Financial Technical Assistance (JAFTA) programme in Việt Nam, marking two decades of partnership that have helped advance the development of Việt Nam’s domestic capital market and ASEAN’s wider financial integration.

The anniversary event gathered senior officials from Việt Nam’s Ministry of Finance, the State Securities Commission, Japanese agencies, development partners and experts involved throughout JAFTA’s 20 years.

JAFTA was introduced in 2003 after the ASEAN+3 Finance Ministers agreed to strengthen regional financial cooperation under the ASEAN+3 Bond Market Initiative. Since then, the programme has offered financial and technical assistance aimed at improving the transparency, efficiency and depth of local currency bond markets across ASEAN.

In Việt Nam, JAFTA has supported the expansion of the government bond market, the development of the corporate bond market and the strengthening of financial infrastructure and market governance. Japanese representatives at the event noted that progress has been achieved through steady joint efforts over 20 years.

Japanese Ambassador to Việt Nam Ito Naoki said cooperation between Japan’s Ministry of Finance, Việt Nam’s Ministry of Finance and the State Securities Commission has been “extremely close and effective” during JAFTA’s implementation in Việt Nam. He emphasised that Việt Nam’s bond market has grown rapidly, along with notable improvements in the securities market and in the regulatory framework.

The ambassador pointed to several milestones, including international recognition of Việt Nam’s stock market progress and Japan’s technical assistance through the Japan International Cooperation Agency (JICA) and Japanese financial institutions. He also welcomed the training programmes that have brought young Vietnamese officials to Japan since 2014, helping develop a new generation of financial regulators.

Ito recalled that this month marks two years since Việt Nam and Japan upgraded their ties to a Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World. During the recent ASEAN Summit, Japan’s new Prime Minister, Takaichi Sanae, met Prime Minister Phạm Minh Chính and reaffirmed the commitment to deepen cooperation.

Japan will continue backing Việt Nam in its goal of developing a modern financial market, he said, going on to reaffirm support for Việt Nam’s plans to build international financial centres in HCM City and Đà Nẵng.

“We will continue to support Việt Nam’s economic development through JAFTA’s bond market cooperation, JICA’s stock market assistance and the work of Japanese financial institutions operating in Việt Nam,” Ito said.

The ambassador expressed hope that cooperation between government agencies, financial institutions and private partners “will continue to flourish”.

Leaders from Việt Nam’s Ministry of Finance and the State Securities Commission said JAFTA has played a vital role in shaping Việt Nam’s financial market development. They noted that JAFTA supports technical work that improves market transparency, strengthens regulations and encourages deeper participation from domestic and foreign investors.

They added that JAFTA’s support aligns with Việt Nam’s long-term objectives of modernising financial markets, enhancing stability and increasing regional integration.

Speakers expressed confidence that cooperation will continue to grow. Japan and Việt Nam agreed to expand collaboration in bond market development, regulatory modernisation, sustainable finance and skills training. — VNS