PM Pham Minh Chinh receives Japan Business Federation

WVR/NDO - Vietnam always treasures ties with Japan and activities of its investors in the country, Prime Minister Pham Minh Chinh told a delegation from the Japan Business Federation (KEIDANREN) led by Masayoshi Fujimoto and Masayuki Hyodo, Co-chairmen of KEIDANREN’s Japan - Vietnam Economic Committee at a working session in Hanoi on March 28, 2024
PM Pham Minh Chinh receives Japan Business Federation
PM Pham Minh Chinh receives Japan Business Federation: PM Pham Minh Chinh and delegates at the working session. (Photo: NDO)

He also highlighted Japan as Vietnam's leading important economic partner, biggest partner in official development assistance, second largest in labour cooperation, third largest in investment and fourth largest in trade.

The leader praised the successful implementation of the Vietnam-Japan Joint Initiative over the past two decades and welcomed the continuation of the joint initiative in the new era, focusing on promoting Asia Zero Emission Community/Green Transformation (AZEC/GX), innovation and digital transformation, supply chains, including developing supporting industries; quality human resources development, and mechanism reform to improve the business environment.

Lauding Vietnam as one of the most important partners, the co-chairmen said Keidanren and Japanese firms want to continue contributing to the bilateral ties, especially in economic cooperation.

They cited a survey by the Japan Bank for International Cooperation (JBIC) indicating that Vietnam ranks second among the most attractive destinations for Japanese investors in both medium and long terms, especially in supporting industry, digital transformation, hi-quality human resources training and global supply chain.

Keidanren and Japanese enterprises pledge to support Vietnam's green transition and acceleration of projects aligning with the Political Declaration establishing the Just Energy Transition Partnership (JETP) and Japan's Asia Zero Emission Community (AZEC) initiative, they said.

In response, PM Chinh suggested KEIDANREN and firms continue strengthening economic connectivity between the two countries, expand cooperation in investment, especially in priority areas outlined in the Vietnam-Japan Joint Statement on the upgrade of the Vietnam-Japan relations to a "Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World"; assist Vietnam in strategic infrastructure, energy, supporting industries, hi-quality agriculture, sci-tech, green and digital transformation, environmental protection, climate change response, semiconductor, quality human resource training, and people-to-people and cultural exchanges, and labour cooperation; and offer suggestions regarding policies, administrative reform, and improvement of the business environment in Vietnam.

Reiterating Vietnam's unwavering support for long-term foreign investors, he said the Southeast Asian country is making efforts to streamline procedures for the implementation of ODA-funded projects, adding that discussions are underway to negotiate and sign a Vietnam-Japan social insurance agreement.

(Source: WVR/NDO)