The finance will be used to build six coastal patrol vessels for the Vietnam Coast Guard in a bid to enhance their law enforcement and maritime rescue capability, contributing to ensuring maritime safety, freedom and security in Vietnam.
The preferential loan has a term of 40 years with a grace period of 10 years. All six patrol vessels are scheduled to be completed in October 2025.
According to JICA, the project will contribute to the implementation of Goals 14 and 16 of the Sustainable Development Goals (SDGs) and the promotion of a free and open Indo-Pacific Strategy.
This project is subject to Special Terms for Economic Partnership (STEP) that will use advanced Japanese shipbuilding technologies and a Japanese contractor to build the patrol vessels.
The East Sea is greatly affected by natural disasters with high risks of marine accidents. The sea also witnesses increasing flows of transport vehicles and goods, leading to risks of criminal activity and threats to maritime security. Thus, Vietnam has attached great importance on strengthening solutions to ensure maritime security and safety in the East Sea.
