Vietnam, Japan Joint Initiative bears fruits

December 11, 2010 | 23:00

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The Vietnam - Japan Joint Initiative’s (VJIT) phase 3 has been successful, creating a foundation for greater achievements in promoting Japanese investment in Vietnam, said Minister of Planning and Investment Vo Hong Phuc.

Minister Phuc made the statement at a press conference to announce the results of the VJIT – Phase 3 Evaluation and Facilitation Committee Meeting on December 10 in Hanoi.

Japanese Ambassador to Vietnam Yasuaki Tanizaki said Vietnam and Japan have agreed to implement phase 4, reflecting the two governments’ cooperation interest.

The action plan on the VJIT’s phase 3, signed in November 2008 to maintain the policy dialogue between Japanese firms and Vietnamese governmental agencies, includes 7 groups of issues with 37 specific items on the enforcement of investment policies and laws, taxation, salary, customs, intellectual property protection, auxiliary and automobile industries, and technical infrastructure.

Vietnam’s relevant ministries, branches and localities have actively coordinated with the Japanese side to organize policy dialogues to solve emerging issues and create a transparent business and investment environment.

Meanwhile, Japan has helped Vietnam better legal documents and policies.

According to the evaluation of the Committee, 50 out of 62 sub-items have been well implemented on schedule.

VGP

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