On December 16, Deputy Minister of Finance Le Tan Can and Japanese Ambassador to Vietnam Yamada Takio exchanged a cooperation document on the fourth STEP loan from the Japanese Government to the Metro route No.1 project at a ceremony held in Tokyo, within the framework of the Summit commemorating the 50th anniversary of ASEAN-Japan relations.
Vietnamese Prime Minister Pham Minh Chinh and his Japanese counterpart Kishida Fumio witnessed the exchange of the cooperation document.
This is the fourth loan the Japanese Government committed to fund the metro project after three previous loans in 2007, 2012 and 2016.
The 20km metro line is the first urban railway project in Ho Chi Minh City, which was commenced in 2012 and is scheduled to begin operation in 2024.
The project has four main bidding packages using ODA loans from the Japanese Government, including three construction packages and one electromechanical package.
