Japanese Prime Minister Shinzo Abe has committed to further official development assistance (ODA) of more than US$1 billion to Vietnam during talks with Vietnamese counterpart Nguyen Xuan Phuc in Hanoi.

The fresh ODA loan is scheduled for disbursement during the 2016 fiscal year, between April 2016 and March 2017, the visiting premier said on Monday at the reception, following a welcome ceremony for his two-day visit to the Vietnamese capital.

The commitment was made after PM Phuc suggested Japan continue providing Vietnam with ODA in the near future, with a focus on infrastructure building, human resources training and climate change response.

PM Abe added that Japan is ready to boost hi-tech applications and investment by raising capital from state-owned enterprises and personnel training while facilitating Vietnamese tourist arrivals and cultural exchanges in Japan, according to the Vietnam News Agency.

The Japanese head of government is visiting Vietnam at a time when the Vietnam-Japan strategic partnership, established in 2014, has developed comprehensively.

At Monday’s reception, PM Phuc hailed his guest as the first foreign leader to visit Vietnam this year and reiterated Vietnam’s consistent policy of considering Japan its leading long-term partner, according to the Vietnam News Agency.

The two leaders agreed on major orientations and specific measures to push forward the comprehensive, practical and effective development of the extensive bilateral strategic partnership.

On the economic front, apart from the ODA commitment, the two premiers reached consensus on boosting economic connectivity via the promotion of trade, investment, and cooperation in supplementary fields such as agriculture and labor.

Both sides vowed to realize Vietnam’s industrialization strategy within the framework of the Vietnam-Japan cooperation until 2020 with a vision till 2030.

The leaders expressed belief that talks between Vietnamese authorities and Japanese corporate executives during Abe’s visit will allow both sides to develop investment ties in the future.

The two premiers also agreed to boost bilateral ties across hi-tech agriculture, high-quality human resources training and cooperation between cities, as well as increasing the number of Vietnamese trainees in Japan.

The visiting leader announced that Japan would allow the import of Vietnam’s red-flesh dragon fruit, while the host also told his guest that Vietnam would license the import of Japan’s pear fruit.

Stronger comprehensive ties

Besides talking economic cooperation, the two leaders also agreed to continue strengthening political trust via high-level visits and meetings, and increasing the efficiency of dialogue mechanisms.

Abe and Phuc were committed to working closely together with regard to the upcoming Vietnam visit by the Japanese Emperor and Empress.

The Japanese premier looked to welcome his Vietnamese counterpart to Japan this summer and promised to attend the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in the central Vietnamese city of Da Nang later this year.

The host and guest agreed to enhance collaboration in national defense and security, including bomb and mine clearance and the improvement of law enforcement at sea.

On regional and global issues of shared concern, the two PMs vowed mutual support at regional and global forums such as the Association of Southeast Asian Nations (ASEAN), APEC, Asia-Europe Meeting (ASEM) and at the United Nations.

The Japanese leader affirmed that he would work to help Vietnam successfully host APEC 2017.

The two PMs underscored the importance of ensuring peace, security, maritime and aviation safety and freedom in the East Vietnam Sea, urging parties concerned to refrain from actions that cause tension and militarization resulting in changing the status quo in the waters, and to promote the settlement of disputes via peaceful means.

The Japanese leader also promised that Japan would provide Vietnam with six new patrol boats for the Southeast Asian country to enhance its maritime law enforcement capability.

Following the talks, the two PMs witnessed the signing of agreements between ministries, agencies and business leaders.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!