Vietnam welcomes high-quality projects from Japan: PM Nguyen Xuan Phuc

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PM Nguyen Xuan Phuc has a round-table talk with Japan’s leading corporations on July 1. (Photo: VNA)

He had a round-table talk with Japan’s leading corporations in the fields of finance, energy, construction, manufacturing, logistics and high technology in Tokyo on July 1.

PM Phuc told participant about several free trade deals Vietnam has engaged in like the freshly signed EU-Vietnam Free Trade Agreement (EVFTA), saying Vietnam will strive to accelerate the signing of the Regional Comprehensive Economic Partnership (RCEP) in 2019.

So, investing in Vietnam would allow Japanese firms to expand their market not only in the ASEAN region but also in the EU, he said.

Japanese investors, comprising Toyota, Canon, TEPCON, Yusen Logistics, Sojitz, and JXTG, showed their interest in developing support industries for the automobile manufacturing in Vietnam, expecting to help boost local content in the field.

They spoke highly of Vietnamese Government’s efforts to remove bottlenecks for the enterprises, suggesting more attention be paid to the training of design and maintenance engineers for FDI companies.

Besides, the Japanese sides said that Vietnamese Government should focus on developing infrastructure, particularly a comprehensive transport system which is well connected to ports in big cities.

In this regard, PM Phuc hoped Japanese companies will continue their official development assistance (ODA) in infrastructure development, a prioritised field of Vietnam.

According to Minister of Planning and Investment Nguyen Chi Dung, Vietnam has huge demand for infrastructure construction, a major breakthrough in the country’s development strategy. Vietnam is mobilising capital for infrastructure development from state budget, public-private partnership, and ODA. Therefore, the country wants to have regular dialogues with foreign investors who are interested in the sector.

For his part, Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung recommended Japanese firms join in vocational training in Vietnam so that they can recruit suitable employees for their business.

PM Phuc hosts a reception for President and CEO of MUFG Bank Kanetsugu Mike. (Photo: VNA)

Earlier on the day, PM Phuc hosted a reception for President and CEO of MUFG Bank Kanetsugu Mike, during which he lauded the bank for its practical contributions to the sound relations between the two countries.

He asked MUFG to match prestigious enterprises with the Vietnamese market’s needs, hoping to receive the bank’s support to develop Vietinbank into an international-standard bank, to realize the country’s strategy to branch out the banking system.

Kanetsugu Mike, for his part, stressed regular dialogues with businesses are important for Japanese firms, expressing his hope that MUFG will work to help Vietnamese authorities and Japanese investors get connected.

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