Japanese firms sign $5-billion raft of deals with Vietnam

The two leaders agrees to closely collaborate in the future for both sides’ benefit

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Vietnamese State President Tran Dai Quang and Japanese Prime Minister Shinzo Abe have witnessed the signing of co-operation documents between ministries, branches, and Japanese investment projects into Vietnam, with a total value of $5 billion.

These documents included the Memorandum of Co-operation on Energy between the Vietnamese Ministry of Industry and Trade and the Japanese Ministry of Economy, Trade and Industry, the contract of Nghi Son 2 coal-fired thermal power plant, as well as the investment certificate for Van Phong 1 coal-fired thermal power plant.

Power purchase agreement of Vung Ang 2 thermal power plant between Electricity of Vietnam Electricity (EVN) and Mitsubishi Corporation, an investment certificate for a project establishing the Department of Healthcare by Japanese technology in Cho Ray Hospital, the Memorandum of Understanding of co-operation for the liquefied natural gas project between Mitsui Bussan Co., Ltd. and Vietnam's oil and gas group have also been signed.

Prime Minister Shinzo Abe committed to continue providing official development assistance (ODA) for Vietnam, support to train high-quality human resources, and encourage Japanese firms to join infrastructure and energy development projects in Vietnam.

“We hoped that Japan will soon allow fresh fruit imports from Vietnam, like litchi and longan,” noted State President Tran Dai Quang when talking about increasing the two-way trade turnover.

He welcomed and asserted Vietnam’s commitment to continue facilitating Japanese firms’ investments, particularly in energy, high-tech agriculture, auxiliary industry, and the automobile industry.

The two leaders were delighted by the comprehensive development of bilateral relations and agreed to collaborate closely for the Extensive Strategic Partnership between Vietnam and Japan in the coming time