Deepening the Vietnam-Japan partnership for prosperity of the two nations (07/03/2023-17:16:00 PM)

The Vietnam-Japan Joint Initiative was launched in April 2003, serving as a policy dialogue forum between Japanese investors and relevant Vietnamese ministries and agencies in order to improve Vietnam's investment climate and competitiveness.

Over the past 20 years, the joint initiative has recorded remarkable results, and Japanese investors considered it the most effective forum among those of the Government of Vietnam.

Participants at the meeting said that the joint initiative is the most reliable mechanism to call for foreign investment, including those of Japan, and contributes to enhancing Vietnam's FDI attraction.

In his remarks, Minister Nguyen Chi Dung thanked Japanese agencies for always accompany and coordinate with Vietnamese side to successfully materialise the joint initiative over the past 20 years.

Accordingly, 497 out of 594 sub-categories, equivalent to 84% in the action plan were well implemented on schedule. The Vietnam-Japan Joint Initiative is a practical policy dialogue mechanism in improving Vietnam's business and investment climate, bringing confidence to investors, including Japan ones, to invest successfully and sustainably in Vietnam.

Minister Dung has recommended four groups of issues to further promote the role of the Vietnam-Japan joint initiative. Firstly, Vietnam looks forwards to lure investment from Japan in a number of prioritised areas that in line with its strengths such as science and technology, innovation, digital transformation, green, digital, circular and knowledge economy.

Secondly, not only act as a policy dialogue to remove difficulties facing Japanese enterprises in Vietnam, it is expected that through the joint initiative, Japanese enterprises will deeply participate in providing constructive policy recommendations in the fields of technology transfer, digital transformation, green transition and innovation for Vietnamese authorities.

Thirdly, Japan needs to provide solutions and resources in next phases of joint initiative to enhance the connectivity, help Vietnamese enterprises engage more deeply in global value chains as well as increase the effectiveness of investment cooperation; support Vietnamese small and medium sized enterprises improve their capacity; provide resources in digital transformation and high-quality human resources; and encourage the coordination between SMEs of the two countries.

Fourthly, the minister expressed his hope that Japan promote its participation in policy-implementing process. He suggested Japanese agencies work closely with Vietnamese agencies and localities to come up with effective cooperation methods and support packages to realise the set plans.

Ambassador of Japan to Vietnam YAMADA Takio said that a survey of the Japan External Trade Organization (JETRO) revealed Vietnam ranks second as a favourite destination for investment for Japanese companies, showing that the Southeast Asian nation is an important partner of Japan.

New themes like digital transformation and green growth will open up prospects in the next joint initiative, significantly contributing to intensify the Vietnam-Japan relationship.