Vietnam and Japan ready to deepen economic cooperation

Investment contracts, certificates, and agreements with the total value of $22 billion were signed between government agencies, localities, and businesses

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On June 5 in Tokyo, Vietnamese Prime Minister Nguyen Xuan Phuc and Japanese Prime Minister Shinzo Abe joined the Vietnamese investment promotion conference and witnessed the signing of multiple investment contracts, certificates, and agreements between government agencies, localities, and businesses with the total value of $22 billion.

The investment promotion conference was held by the Japan External Trade Organisation in conjunction with the Vietnamese Ministry of Planning and Investment, Bank of Tokyo-Mitsubishi UFJ, and Vietnam Joint Stock Commercial Bank for Industry and Trade.

PM Phuc said he appreciated the Japanese investors’ suggestions regarding the investment environment, and proposals of ideas and projects to increase the cooperation between the two countries.

“The Vietnamese government will consider your suggestions when making policies in the near future,” he said, adding that now is the perfect time for Japanese investment in Vietnam.

“On this occasion, PM Shinzo Abe and I, as well as leaders and partners from Japan, want to express our vision of a comprehensive strategic partnership between the two countries, not only for the next five or ten years, but for 100 years,” he said, adding that the potential for cooperation between the two sides is limitless.

PM Phuc expressed hope for a new wave of investment from Japan in Vietnam. “The door is wide open. We hope to share big opportunities with Japanese partners in manufacturing, the support industries, infrastructure development, high-quality services, tourism, renewable energy, organic agriculture, and, in the process of restructuring the economy, developing startups in the fourth industrial revolution,” he said.

In his speech, PM Abe recalled that when he was elected for the first time, he visited Vietnam with 130 companies, after which Japanese companies’ activities have grown tremendously. After he became PM for the second time, his first official trip was also to Vietnam.

“I believe that under PM Phuc’s leadership the economic relationship between the two countries will grow even more,” he said, adding that in the next period he will, together with PM Phuc, encourage and support the business activities of Japanese companies in Vietnam. “I hope PM Phuc continues to listen to the voice of Japanese companies.”

Abe affirmed that the two countries will continue to cooperate to push freedom of trade.

Below are some images from the conference: