Hanoi (VNA) - The implementation of projects fundedby the Japanese Government through the Japan International Cooperation Agency (JICA)amid the COVID-19 pandemic has contributed to Vietnam’s economic recovery,an official from the agency has said.

Addressing a press conference on October 6 in Hanoi, Shimizu Akira, Chief Representativeof JICA in Vietnam, said that in accordance with the Vietnamese Government’s instructionsto maintain the construction of public works amid the pandemic, JICA has continued tocarry out Japanese ODA projects even during the social distancingperiod and these have helped sustain employment for Vietnamese engineers.

There are also about 2,000 workers involved in the project on building HCM City’s urbanrailway line.

Newly-signed loan projects are in decline, as is the disbursement rate of ODA capital,but the early disbursement of public investment could be a catalyst that has contributedto economic recovery and development in Vietnam, he noted.

The Vietnamese Government and Prime Minister Nguyen Xuan Phuc have paid significantattention to and adopted specific plans to promote the disbursement of public investmentcapital, he said, expressing his hope that this effort would help JICA acceleratethe progress of projects in Vietnam.

JICA has provided financial support worth 77.4 billion JPY (over 733 million USD)in loan projects and technical cooperation projects for Vietnam’s healthcare sector.

In the context of the COVID-19 pandemic, it will promote medical cooperation withVietnam on the basis of putting experience collected in the country to use, he said.

Commenting on global supply chain shifts, Akira said the trend gives Vietnam newopportunities but the country needs to improve human resources quality and develophigh-quality infrastructure to attract foreign investment.

Regarding support in attracting foreign investment, JICA is implementing a technicalcooperation project to strengthen Vietnam’s capacity for improving equity and transparencyin its stock market and promoting transparent information disclosure in corporatefinancial accounting, towards the application of international financial reportingstandards.

In the time to come, he affirmed, JICA will continue to support Vietnam in developinginfrastructure and will enhance its technical cooperation with the country, contributingto Vietnam’s development./.