Vietnamese PM vows best conditions for Japanese investors in Vietnam

Prime Minister Pham Minh Chinh delivers a speech at the Vietnam-Japan investment promotion conference held in Tokyo on November 25. 

Vietnam is committed to providing the best conditions for Japanese investors to run stable, successful and long-term business in the country, Prime Minister Pham Minh Chinh told the Vietnam-Japan investment promotion conference in Tokyo on November 25.

The event’s theme calls on the two countries to heighten relations and cooperation to develop together. Held as part of Chinh’s official visit to Japan from November 22 – 25, it brought together ministers, officials and enterprises from both sides.

At the conference, the Prime Minister and members of the high-ranking Vietnamese delegation witnessed the exchange of 44 cooperation documents between agencies and businesses of the two countries, including economic cooperation agreements with a total value of many billion USD. In which, the cooperation agreement on investment in Lang Son power plant is worth 1.75 billion USD, the project of raising, processing and distributing beef cattle in Vinh Phuc is worth 500 million USD, and the cooperation agreement on the development of the Dinh Vu economic area (Hai Phong) worth 250 million USD…

Vietnam is actively implementing three strategic breakthroughs in institutional improvement, infrastructure development and human resource training. Vietnam's business investment environment is increasingly favorable, stable and transparent. Vietnam is committed to creating all favorable conditions in terms of institutions and administrative procedures, paying attention to creating conditions for foreign businesses, including Japanese ones, to continue investing in expanding and improving operational efficiency in the Vietnamese market

In his remarks at the event, Chinh highlighted the success of his talks with Japanese Prime Minister Kishida Fumio a day prior, saying the Vietnam – Japan relationship has never been as good as it is now.

The two countries have maintained a high level of political trust and sincerity, providing a good environment for both sides to accelerate exchange and development in all aspects, particularly cooperation for economic development, the PM said.

He thanked Japanese enterprises for sharing hardships and supporting Vietnam in the battle against COVID-19, and particularly appreciated Japanese investors for not only staying with Vietnam but also having plans to expand investment in the long run, notably in the country’s prioritized areas.

He reassured the Japanese firms about Vietnam’s political stability and security alongside a pool of skilled and resilient labor force, saying they can confidently carry on business in Vietnam in the long term.

He went on to mention global challenges Vietnam is also facing, namely COVID-19, climate change, aging population and environmental issues, noting that they must be addressed with a global approach.

Like many developing countries, Vietnam needs to tackle various problems in terms of institutions, public administration and high-quality human resources, so the PM expected to receive continued support from Japanese companies and partners in institutional building, human resources training, green investment for development, technology and science, corporation and national governance.

He called on Japanese firms to invest in Vietnam in the fields of digital transformation, climate change response, human resources development, infrastructure, green economy, circular economy, among others.

Chinh later witnessed the exchange of more than 40 cooperation documents in various areas signed between Vietnamese and Japanese ministries, localities and enterprises.

He took the occasion to host receptions for the co-chairmen of the Vietnam-Japan Economic Committee, Chairman of the Japan External Trade Organisation (JETRO) Sasaki Nobuhiko, Japanese Minister of Economy, Trade and Industry Koichi Hagiuda, Chairman of the Nippon Foundation Yohei Sasakawa, and leaders of several Japanese corporations.