Enhancing Vietnam-Japan Economic Partnership

Prime Minister Pham Minh Chinh recently hosted a dialogue with Japanese businesses in Hanoi, emphasizing the importance of viewing Vietnam as a strategic investment destination. This move aims to foster sustainable and rapid development for both nations.

Strong Economic Ties

Highlighting the robust Vietnam-Japan relations, PM Chinh pointed out the significant role of bilateral economic, trade, and investment cooperation. Japan stands as one of Vietnam's leading economic partners, contributing substantially in terms of ODA, investment, trade, and tourism.

Investment Opportunities and Challenges

With over 5,500 Japanese investment projects in Vietnam and a bilateral trade turnover exceeding US$46.2 billion in 2024, the potential for growth is immense. Japanese businesses have shown keen interest in expanding their operations in Vietnam, especially in sectors like infrastructure, semiconductors, and renewable energy. However, they seek improvements in administrative processes and legal frameworks to facilitate smoother investments.

Commitment to Growth and Sustainability

PM Chinh assured Japanese firms of Vietnam's commitment to streamlining its political system for higher efficiency and better service delivery. He also emphasized Vietnam's ambitious growth targets and the strategic breakthroughs in institution, infrastructure, and human resources. The Vietnamese leader called on Japanese businesses to support Vietnam's goals through initiatives like the "Asia Zero Emission Community" and the "Innovation/Digital Transformation Fund."

Looking Ahead

Vietnam welcomes Japanese investment in key sectors that promise quality, efficiency, and environmental protection. The government is committed to ensuring a stable and conducive environment for foreign investors, aiming to make the foreign-invested sector an integral part of the national economy.