Talking on the threshold of the upcoming mid-term consultative group (CG) meeting for Vietnam in the Mekong Delta province of Kien Giang, Ambassador Sakaba said that Vietnam’s public debt is much lower than that of Japan which is almost 80 percent of its gross domestic product (GDP). 

The safe level of public debt depends on each country’s economic development and GDP growth, said the Japanese diplomat, noting that Vietnam’s debt will no longer be a worry if the country maintains its GDP growth of 7-8 percent. 

Regarding the express railway construction project in Vietnam under Japan’s Shinkansen bullet train model, Mr Sakaba said that Japanese experts have found a close link between the express railway system and economic development when conducting a survey on Vietnam’s transport system. This railway route will help develop urban areas and increase economic benefits along the route from Hanoi to HCM City. 

Based on Japanese experts’ study results, Japanese Transport Minister Seiji Maehara, who visited Vietnam in early May, also said that it will be more suitable to build the express railway in short distances than the whole route, said Ambassador Sakaba. He also confirmed that his government is willing to cooperate with Vietnam in building this railway system.