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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on November 14 a Memorandum of Understanding (MOU) with the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), a major state-owned bank in Vietnam. The objective of the MOU is to support decarbonization in the country.
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The government of Vietnam announced its goal of achieving carbon neutrality and becoming a high-income country by 2050. By revising the Power Development Plan 8 in April 2025, the government expressed its intention to significantly increase the share of renewable energy in its power generation mix and to expand investment in power transmission lines, as a policy to achieve both economic growth and decarbonization. In accordance with the government’s policy, the State Bank of Vietnam showed its policy to accelerate providing funds for green finance in the banking sector, while BIDV has committed to becoming a Net Zero bank by 2050 and focused on similar initiatives as the largest commercial bank in Vietnam. The signing of the MOU is therefore in line with the policies of the government of Vietnam and BIDV.
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In the Fifth Medium-term Business Plan, released in June 2024, JBIC aims to contribute toward realizing both carbon neutrality and economic growth, supporting efforts toward global green transformation (GX) and energy transitions based on countries' diverse pathways to carbon neutrality. The signing of the MOU this time aligns with the Medium-Term Business Plan of JBIC.
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In January 2022, the government of Japan proposed the concept of the Asia Zero Emission Community (AZEC), a framework to provide support and cooperation for efforts for energy transition by Asian countries by leveraging the strengths of Japanese companies, such as their technology and expertise. Vietnam is an important partner country in the AZEC framework. In April 2025, the government of Japan and the government of Vietnam agreed to promote bilateral cooperation projects for energy transitions under AZEC principles. The signing of the MOU is in line with the policy of the government of Japan and the government of Vietnam.
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As Japan’s policy-based financial institution, JBIC will continue to actively support the creation of business opportunities for Japanese companies through strengthened cooperation with important partners in the decarbonization sector.
