There has been an increasing risk of maritime accidents in recent years in Việt Nam. Photo for illustration.

The JICA signed a Loan Agreement (L/A) with the Government of Vietnam on Tuesday in Hanoi to provide a Japanese ODA loan of up to 36.626 billion yen (US$341 million) for the Maritime Security and Safety Capacity Improvement Project.

Vietnam is a narrow, long country lying along a north/south axis with a long coastline. There has been an increasing risk of maritime accidents in recent years due to an increase in fishery activities and freight transportation, and a rise in natural disasters in the form of typhoons in summer and tidal waves in the monsoon season.

In addition, there has been a rising risk of maritime crimes including smuggling and piracy.

This project will provide the Vietnam Coast Guard (VCG) with financing to procure vessels, supporting an improvement in maritime rescue operations and maritime law enforcement. — VNS