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Japan, Vietnam eye cooperation in rare earth production

The Saigon Times

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HCMC – Japan wants to join hands with Vietnam in semiconductor production, artificial intelligence (AI), and rare earth exploration and extraction projects, said Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi.

During a meeting with Prime Minister Pham Minh Chinh on November 3, the Japanese minister said the two nations could work together in areas like semiconductor production, artificial intelligence, innovation, and biotechnology.

He emphasized Japan’s interest in cooperating with Vietnam in surveying, extracting and processing rare earths, and developing related industries.

Japan also pledged to enhance cooperation with Vietnam in other fields, especially technology transfer and human resource training.

Both parties are committed to strengthening their multilateral cooperation mechanisms, particularly within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

PM Chinh said that Vietnam is creating favorable conditions for Japanese firms to expand their investments in the country. He proposed that Japan assist Vietnamese businesses in integrating further into its global supply chains.

The Vietnamese leader proposed Japan provide financial support through new-generation ODA loans for large-scale infrastructure projects in Vietnam, including a high-speed railway project.

Japan is Vietnam’s major economic partner in terms of investment and trade, and it has provided the largest amount of official development assistance (ODA) loans to Vietnam, totaling around US$21.6 billion.

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