In 1992, Japan resumed development assistance to Vietnam. The financial commitment totalled to over US$8 billion. Series of infrastructure projects with hundreds of roads, bridges, hospitals, schools, etc. have been built by Japanese ODA, contributing to the socio-economic development in Vietnam and the close relationship between the two countries. In addition to capital resources, Japan has also sent experts to help in important projects and develop Vietnamese businesses. Japanese experiences have been successfully applied in Vietnam including the model of postal savings by Vietnam Post and Telecommunication Corporation (VNPT). Currently, VNPT postal savings are available in over 800 post offices in all 64 provinces and cities of Vietnam. Though the system is newly established in 1999, it has attracted VND45,740 billion (equivalent of US$2.85 billion) and over 2.6 million clients. It has transferred to the government VND11,235 billion (over US$700 million) and the Development Assistance Fund is investing in important projects in Vietnam. Due to its important contribution, the Prime Minister, by Decision 270/Ttg replacing Decision 215 of 1999, has expanded the legal framework of the Postal Savings, allowing it to provide services on payment, Government bond, financial and monetary agencies. The new decision demonstrates the confidence of the government in the development of postal savings as well as its prestige in the past years. The success is also initiated by Japanese government and ministry of post.
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