Illustrative image (Source: VNA)Phase VIII of the initiative, launched in 2003,concluded in March 2023, under which 497 out of the 597 items were completed.
To promote its role, the Vietnamese Ministry ofPlanning and Investment proposed building a cooperation programme betweensmall- and medium-sized enterprises (SMEs) of the two countries, focusing ondigital transformation, support industry and personnel training.
Japanese SMEs have capacity, experience and hightech, and Vietnamese firms have abundant human resources, which is reciprocalduring their development cooperation.
The ministry suggested the Japanese side take morespecific solutions and supplement workforce to further support Vietnameseenterprises in improving their capacity and competitiveness, and participatingintensively in value chains.
According to a survey conducted by the JapanExternal Trade Organisation (JETRO) in 2022, 60% of the Japanese firms said theyplan to expand operations in Vietnam, the highest in Southeast Asia.
With the aim of joining the group of upper-middleincome countries by 2030, Vietnam has paid attention toscientific-technological application, innovation, digital transformation, greentransition, green economy, digital economy, circular economy and knowledge-basedeconomy.
The country, therefore, is encouraging Japaneseenterprises to step up investment in infrastructure, energy, manufacturing,high-tech agriculture, IT, smart urban development, financial services, bankingand innovation.
The Vietnamese Government has committed tosupporting businesses, contributing to advancing the Vietnam-Japan relationshipto a new height.
Currently, Japan is running more than 5,000 validprojects in Vietnam with a total investment capital of over 69 billion USD,ranking third among the 141 countries and territories investing in the SoutheastAsian nation.
Japanese investments were injected in 57 out ofthe 63 localities, mostly in Ho Chi Minh City and Hanoi.
Meanwhile, Vietnam counts 104 projects in Japanworth some 19.2 million USD, making the East Asian nation the 36th among the 79 countries and territories receiving Vietnamese investments.
Japan is Vietnam’s fourth biggest trade partner withtwo-way trade nearing 50 billion USD last year.
Localities in Vietnam’s Red River Delta like HaiPhong, Quang Ninh, Hai Duong and Hung Yen said they stand ready to materialisecooperation opportunities between the two countries in high-tech agriculture,manufacturing, renewable energy and circular economy.
For Japan’s official development assistance (ODA),Deputy Minister of Planning and Investment Tran Quoc Phuong noted that itaccounts for more than 30% the accumulative bilateral development aid toVietnam.
The assistance has played an important role inVietnam’s socio-economic development through large-scale infrastructureprojects such as Tan Son Nhat and Noi Bai airports, Cai Lan, Lach Huyen and CaiMep-Thi Vai seaports, and Nhat Tan Bridge, he stressed.
Yoshihisa Suzuki, Chairman of the Japan-MekongBusiness Cooperation Committee under the Japan Chamber of Commerce and Industry(JCCI), said at a recent economic forum that Vietnam has become an attractivedestination for Japanese investors to expand services and start doing business.
The Vietnamese community in Japan has also helpedintensify people-to-people exchange and technological cooperation between thetwo countries, he added./.
Meanwhile, Vietnam counts 104 projects in Japanworth some 19.2 million USD, making the East Asian nation the 36th among the 79 countries and territories receiving Vietnamese investments.
Japan is Vietnam’s fourth biggest trade partner withtwo-way trade nearing 50 billion USD last year.
Localities in Vietnam’s Red River Delta like HaiPhong, Quang Ninh, Hai Duong and Hung Yen said they stand ready to materialisecooperation opportunities between the two countries in high-tech agriculture,manufacturing, renewable energy and circular economy.
For Japan’s official development assistance (ODA),Deputy Minister of Planning and Investment Tran Quoc Phuong noted that itaccounts for more than 30% the accumulative bilateral development aid toVietnam.
The assistance has played an important role inVietnam’s socio-economic development through large-scale infrastructureprojects such as Tan Son Nhat and Noi Bai airports, Cai Lan, Lach Huyen and CaiMep-Thi Vai seaports, and Nhat Tan Bridge, he stressed.
Yoshihisa Suzuki, Chairman of the Japan-MekongBusiness Cooperation Committee under the Japan Chamber of Commerce and Industry(JCCI), said at a recent economic forum that Vietnam has become an attractivedestination for Japanese investors to expand services and start doing business.
The Vietnamese community in Japan has also helpedintensify people-to-people exchange and technological cooperation between thetwo countries, he added./.
VNA
