Vietnam wants Japanese businesses to increase their investment in the country through the form of public-private partnership (PPP), said Deputy Minister of Planning and Investment Dang Huy Dong.
Addressing the Vietnam-Japan Investment Forum in Tokyo on July 22, Dong emphasized that Vietnam needs about US$16-17 billion to develop infrastructure annually from now to 2020, while the capital investment from traditional channels only meets 50-60 percent of demand.
As a result, the pilot scheme for investment under the PPP form was approved. This was one of the key policies of the Vietnamese Government aiming to create a legal corridor for attracting more sources of investment from the private sector for developing infrastructure and public services in Vietnam.
The Deputy Minister said the Vietnamese Government expected to successfully implement PPP, attracting not only capital sources but also advanced technologies and effective management experience from the private sector.
He expressed hopes that Japan, as a strategic partner of Vietnam, would continue to closely cooperate with the country to successfully deploy the PPP programme, affirming that the Vietnamese Government always highly valued the efficiency of investment capital from Japanese investors.
Japanese Vice Minister of Land, Infrastructure, Transport and Tourism, Naoyoshi Sato, said the Japanese government is considering joining in the PPP projects.
He also highlighted some of Japan’s strong points on technology and experience in the fields of high-speed railways, sewage treatment and rubbish recycling.
Japan is currently Vietnam’s fourth-largest investor with more than 1,550 projects worth US$21.3 billion.