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Wednesday, June 19, 2024

PM Chinh seeks Japanese tech transfer to boost Vietnam’s industries

The Saigon Times

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HCMC – Prime Minister Pham Minh Chinh has asked Japanese companies for assistance in enabling Vietnam to adopt advancements in manufacturing transportation equipment, components, food, and chemicals.

During his visit to Gunma, a prefecture in Japan, on December 15, PM Chinh met with business executives in Gunma Prefecture in central Japan, where he expressed his admiration for their distinctive approaches to growth and development. He acknowledged Gunma’s expertise in manufacturing transportation equipment, components, food, chemicals, and plastics.

Given that Gunma is considered a hub in Japan for digital transformation, green economic development, and the digital economy, PM Chinh said that the experiences of Japanese businesses can benefit industries such as technology, services, and entertainment in Vietnam.

Highlighting Japan’s strengths in the automotive, household appliances and food industries, he proposed enhancing Vietnam-Japan cooperation and technology transfer, leveraging Vietnamese labor and materials.

To facilitate investment from Gunma, relevant authorities, ministries, and departments have been tasked with creating favorable conditions. He stressed that Vietnam is prioritizing advances in institutions, infrastructure, and high-quality human resources, particularly in traffic infrastructure, which is crucial for reducing logistics costs and enhancing business efficiency.

He said lower logistics expenses would lead to reduced input prices and overall product costs, thereby enhancing the competitiveness of Vietnamese goods. Acknowledging the existing weakness in human resources, he emphasized the importance of efforts to attract foreign investments, especially from countries like Japan.

He expressed optimism that increased investments from businesses will not only yield economic benefits but also strengthen the friendship and cooperation between the two nations.

Currently, 45 enterprises from Gunma have investment projects in Vietnam, with a focus on the plastics and transportation equipment sectors.

Gunma is now home to about 12,000 Vietnamese residents, making it the largest foreign community in Japan.

Chinh began his trip to Japan on December 16 for participating in the ASEAN-Japan 50th Summit and engaging in bilateral activities.

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