Mitsui & Co. plans to delve deeper into Vietnam's agricultural industry

At a meeting with Prime Minister Pham Minh Chinh on September 11, Tatsuo Yasunaga, chairman of Mitsui & Co., shared the company's investment plans in Vietnam.

"We ask Vietnam to support the group to expand operations in other fields such as aquaculture and seafood processing, as well as the production and export of wood pellets," Yasunaga said, adding that the group hopes to receive support in human resource training and labour partnerships between Vietnam and Japan.

Mitsui wants to promote investment and collaboration in the areas of our strength, expanding business opportunities in Vietnam, he added.

One of Mitsubishi's key projects in Vietnam is a gas power project. The chairman also sought the government's support to accelerate the implementation of the long-delayed project.

Mitsui & Co. is one of the world's most diversified comprehensive trading, investment, and service enterprises. It boasts a network of 125 offices in 61 countries and regions.

In Vietnam, Mitsui has invested in 22 projects in various fields such as mineral resources, energy, and textiles, with a total investment estimated at $1 billion. Among them, the gas power project accounts for more than $700 million.

PM Chinh lauded the efforts made by Mitsui and its partners in implementing the gas power project, which is of significance to Vietnam's socioeconomic development. The PM committed to helping Mitsui to successfully implement the project, while suggesting the group work closely with PetroVietnam to speed up progress with a view to exploiting its first gas in late 2025.

"We welcome Mitsui's expansion into other fields like wind turbine production and offshore wind. We encourage Mitsui to continue to collaborate with Vietnamese partners in infrastructure, chemicals, mineral resources, IT, food, and retail," PM Chinh said, highlighting the importance of Mitsui's transfer of technology and management experience to Vietnamese enterprises to join the global supply chain.

Cooperation in human resources training was also one of the areas encouraged by the PM so Vietnam can develop a high-quality workforce that is ready to meet the development requirements of the modern economy.

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