The Japan International Cooperation Agency (JICA) in Vietnam has said it wants to increase the amount of aid it provides to Vietnam in the future.
JICA’s chief representative in Vietnam Tsuno Motonori said that JICA had come to the decision because Vietnam has joined the group of average income nations which shows that Vietnam now has a higher economic capacity and uses capital more effectively.
He said that future JICA assistance will be based on the Vietnamese Government’s requirements and the agency will help to upgrade the nation’s transport and electricity infrastructure. It will also help Vietnam to improve personnel training and policy mechanisms.
Out of all the countries that have received JICA aid, Vietnam has been the most successful in disbursing the funding, he noted.
In the early 1990s, Japan’s official development assistance (ODA) was used to build road networks in the northern region, including highways 5, 10 and 18, the Bai Chay Bridge in the northern province of Quang Ninh and the Binh Bridge in the northern city of Hai Phong. The traffic system has considerably improved transportation in the northern region as well as people’s standards of living.
However, in an interview with the Banking Times on Wednesday, Motonori said that Vietnam should focus on improving its infrastructure, human resources and institutions to increase the competitiveness of its national economy.
Vietnam needs to mobilize more private capital through public private partnerships, he added.
