Vietnamese Finance Minister Vuong Dinh Hue and Japan International Cooperation Agency (JICA) Vice President Arai on November 2 in Tokyo signed loan agreements for six important projects worth US $1.2 billion.
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The signing ceremony of six loan agreements between Vietnam and JICA, Tokyo, November 2, 2011
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They included the Lach Huyen deepwater port development project, the North-South Highway construction project at the Ben Luc-Long Thanh section, the Nghi Son thermo-electric power plant, a program to cope with climate change, and a satellite observation project to monitor disasters and climate change.
JICA will spare no effort to assist Vietnam’s development process and its Finance Ministry in human resource training, affirmed its Vice President Izumi Arai.
Earlier, at a meeting with Vietnam Finance Minister Vuong Dinh Hue, JICA Vice President Arai said apart from the assistance in building infrastructure, Japan is ready to cooperate in improving policies and mechanisms and in human resource training, to serve Vietnam’s economic development.
The JICA Vice President stressed the importance of increasing the competitiveness of Vietnam’s economy in the medium and long term.
JICA will discuss with the Japanese Government on providing financial assistance to the Vietnamese Government if Vietnam needs help when implementing these policies, Mr. Arai added.
According to Mr. Arai, Japan’s pledge for Vietnam in the 2011 fiscal year may amount to ¥ 200 billion, ¥ 50 billion more than in 2010.
Finance Minister Hue affirmed that the Vietnamese Government has conducted drastic measures to stabilize its macro-economy in the context of the global public debt crisis.
Mr. Hue went on to say that the Vietnamese Government prioritizes restructuring the economy, public investment and the system of State-owned enterprises and human resource development./.