Phase VIII of Vietnam-Japan Joint Initiative to cover various matters

Deputy Minister of Planning and Investment Tran Duy Dong (Photo: VNA)

Hanoi - A range of issues, including those regarding working environments and the reform of State-owned enterprises and the stock market, will be included in the action plan for Phase VIII of the Vietnam-Japan Joint Initiative.

At a meeting in Hanoi on December 9, the two countries reached consensus on the content of the action plan, which also covers matters relating to land and certain laws.

Deputy Minister of Planning and Investment Tran Duy Dong described the Vietnam-Japan Joint Initiative as a special, effective cooperative form implemented by the two countries for the last 17 years.

It is an important dialogue channel between Japanese enterprises and government agencies in Vietnam, he said, adding that all the 52 items in Phase VII have been completed or are underway.

Phase VIII is expected to contribute to perfecting Vietnam’s investment and business environment and enhancing cooperation between the two countries, thus matching their potential and hopes, he said.

The large number of Japanese investors in Vietnam demonstrates their support for the country’s efforts in improving the local business climate, Dong said.

Kazunori Sudo, Chairman of the Japanese Chamber of Commerce and Industry in Vietnam (JCCI), said the initiative is a special cooperative mechanism in international cooperation, and highlighted its contribution to promoting bilateral ties.

According to Do Nhat Hoang, head of the Foreign Investment Agency at the Ministry of Planning and Investment, the joint initiative, launched in April 2003, has gone through seven phases, with 430 out of the 525 items being implemented on schedule.

Japanese representatives at the meeting raised recommendations to step up the bilateral relationship post-COVID-19, and touched upon investment plans in Vietnam by major Japanese businesses.