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PM calls on Japanese corporations to increase investment in Vietnam

The Saigon Times

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HCMC – Vietnamese Prime Minister Pham Minh Chinh met with leaders of Japanese corporations on November 23 and 24 as part of his visit to Japan and called on them to step up investment in Vietnam.

On November 23, the prime minister held talks with leaders of Japanese corporations that have invested in Vietnam in various fields such as energy, textiles and garments, retail, consumption and infrastructure development.

They included the ENEOS Group, the AEON Group, Fast Retailing Co. Ltd, the Marubeni Corporation, Mitsui & Co. Ltd, Mitsui Oil Exploration Co. Ltd, the Sojitz Corporation and the Mitsui Seafood Processing Company.

Chinh spoke highly of the Japanese firms’ achievements in Vietnam and expressed his support for the companies’ plans to expand investment, especially in renewable energy, digital transformation, e-commerce and sustainable development.

The prime minister suggested that Japanese enterprises support Vietnam to improve the productivity of the workforce, share their management experience and increase the exports of products made in Vietnam to international markets.

He said Vietnam is flexibly adapting to the new normal and focusing on economic recovery. The Vietnamese Government will offer favorable conditions and create a safe business environment for foreign investors to operate in the country.

On November 24, Chinh joined a working session with other leading Japanese firms, colleges and agencies, with the focus placed on digital transformation.

The prime minister stressed that Vietnam is a fast-growing and open economy that has invested strongly in digital transformation.

Vietnam has signed 17 free trade agreements with more than 60 economies, including major markets such as Japan, the United States, the European Union and South Korea.

Besides, the country is implementing a national digital transformation program, which is expected to raise the share of the digital economy to 20% of gross domestic product by 2025 and 30% by 2030.

According to Deputy Minister of Information and Communications Nguyen Huy Dung, the Covid-19 pandemic has caused numerous challenges but at the same time accelerated digital transformation in Vietnam.

The ratio of online public service users doubled to 24% during the pandemic compared to that recorded in the past 20 years.

Moreover, some 80% of Vietnamese students are learning online, higher than the average of over 60% across OECD countries.

Japan is a developed economy whose businesses have strong digital capabilities. Therefore, Vietnam always welcomes Japanese firms to join and contribute to the country’s digital transformation process.

On the same day, Chinh held talks with Kitaoka Shinichi, President of the Japan International Cooperation Agency (JICA).

The prime minister spoke highly of JICA’s contribution to the implementation of official development assistance projects in Vietnam. 

The agency has also facilitated the provision of more than four million doses of Covid vaccines and medical supplies from the Japanese Government. The donations have helped Vietnam accelerate vaccination and improve healthcare services during the Covid pandemic. 

Prime Minister Pham Minh Chinh holds talks with Kitaoka Shinichi, President of the Japan International Cooperation Agency

Chinh suggested that the two countries strengthen collaboration in the fight against Covid as well as economic recovery.

Shinichi said JICA would further support Vietnam in socioeconomic development, with a focus on cooperation in healthcare, public investment and human resource development.

The Vietnamese Government leader also received Chief Representative of Japan’s Komeito Party Yamaguchi Natsuo. 

He congratulated the Komeito Party on its success in the last election and thanked the Japanese party for its contribution to deepening the cooperative relationship between Vietnam and Japan.

The prime minister reaffirmed that the Vietnamese Government and people consider Japan a leading reliable and long-term partner.

He hoped the Komeito Party would continue to promote the Vietnam-Japan strategic partnership, the exchange between the two countries’ parliamentarian groups and people-to-people exchanges in the coming time.

Prime Minister Pham Minh Chinh receives Chief Representative of Japan’s Komeito Party Yamaguchi Natsuo

Natsuo applauded the Vietnamese prime minister’s visit to Japan, which will further strengthen the Vietnam-Japan strategic partnership in multiple fields.

He said that the Komeito Party would continue to support stronger Japan-Vietnam relations and bolster bilateral cooperation at regional and international forums. 

Besides, the party always supports Vietnamese citizens living, studying and working in Japan.

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