(VOVworld) – The Vietnam-Japan Joint Initiative has completed 77% of its projects in 16 months of the 5^th phase, primarily in transportation, customs, food safety, intellectual property, and infrastructure. The result was reported in Hanoi on Tuesday at an end-of-term evaluation meeting held by the Ministry of Planning and Investment and the Japanese embassy in Vietnam. 

Japan's Mtex - Semicodutor JSC. produces electronic components in Ho Chi Minh city. (Photo: VNA)

Japanese Ambassador to Vietnam Hiroshi Fukada said: “The joint initiative is an important cooperation mechanism of Vietnam and Japan. With a specific plan for each phase, we want to help Vietnam improve its business climate to lure more investment. The 6^th phase will enable a more open, active Vietnamese economy as it prepares to join important trade agreements and the ASEAN economic community.”

According to Minister of Planning and Investment Bui Quang Vinh, there remain a number of corruption cases involving Japan’s official development assistance (ODA) to Vietnam. The Ministry of Transport and other agencies have closely probed such cases and strengthened oversight. The Ministry is working with ODA management bodies on better regulations on inspecting, auditing, and monitoring ODA projects.