Deputy Minister Nguyen Thi Bich Ngoc works with the Vietnam - Japan Economic Committee (06/03/2023-18:02:00 PM)

Hosting a reception for Keidanren co-chairs, Masayoshi Fujimoto, Hideo Ichikawa and Masayuki Hyodo, Deputy Minister Ngoc lauded Keidanren's role in serving as an effective channel for information exchange between businesses of the two countries. Notably, the Vietnam-Japan Joint Initiative, a policy dialogue mechanism between the Vietnamese government and Japanese enterprises, has contributed to the improvement of the investment climate and attraction of more Japanese businesses to Vietnam.

The deputy minister highlighted Vietnam's strategic long-term goal of being a developed and high-income country by 2045, and achieving net-zero emissions by 2050.

She said Vietnam will continue to implement three strategic breakthroughs in terms of regulations, infrastructure, and human resources; develop innovation network; encourage innovative startups engaged in high-tech businesses; establish of a financial center; and promote investment in semiconductor industry.

The host asked both sides continue cooperation in the areas where Japan has strengths and Vietnam is in demand, wishing that Keidanren, through the Vietnam-Japan Joint Initiative will boost more Japanese firms to invest in Vietnam.

"The Vietnam-Japan Joint Initiative has been carried out in eight phases over 20 years with a number of cooperation agreements, but we have not seen much investment in the industrial sector. We hope Keidanren will promote its firms to do business in the fields of Vietnam's priority", said deputy minister Ngoc.

For his part, Masayoshi Fujimoto said the Vietnam-Japan joint initiative has seen remarkable results, and it is expected to add some new groups of issues in the next phase.

He affirmed, Japanese enterprises consider Vietnam an attractive consumer market with stable political. The Southeast Asian nation has proven itself to be an important link in global supply chain.

Meanwhile, Masayuki Hyodo proposed a number of cooperation orientations between two sides for the time to come. He said, Japanese agencies and enterprises hope to assist Vietnam in realising its goal of becoming a developed country with modern industry by 2045.

Over the past 20 years, the Vietnam-Japan Joint Initiative has laid ground for the two countries' extensive strategic partnership. The Keidanren co-chairman suggested some priorities in the next period such as dealing with global warming, clean energy transition and digital transformation, preparing for the 50th anniversary of the diplomatic ties this year so as to create more durable stepping stones for their relations.

The two sides discussed numerous issues to improve the business and investment climate of Vietnam in order to attract more Japan's investment and strengthen the two countries' cooperation relationship for mutual benefits./