Vietnam and Japan target connectivity

Japan is the second largest foreign investor in Vietnam -Photo: Le Toan

The visit, at the invitation of Prime Minister Shinzo Abe, is aimed to comprehensively boost the two nation’s ‘Intensive Strategic Partnership for Peace and Prosperity in Asia’ forged in March 2014, with a focus laid on strengthening political trust, solidifying economic connectivity and co-operation, expanding security and defence co-operation, and further cementing co-operation in regional and international issues of mutual concern,” according to the Party’s Central Committee’s External Affairs Committee.

Trong will hold bilateral talks with Abe and meet with Emperor Akihito, President of the House of Councilors Yamazaki Masaaki, Speaker of the House of Representatives Tadamori Oshima, Minister of Foreign Affairs Fumio Kishida, chairmen of Japan’s parties, leaders of many big Japanese corporations, and Japan Business Federation Keidanren.

He will also attend a Vietnam-Japan tourism-trade-investment forum.

According to the External Affairs Committee, in addition to releasing a statement on a joint vision for Vietnam-Japan relations, the two nations will sign eight co-operation agreements during this visit. Specifically, the Vietnam Communist Party will sign two memoranda of understanding with Japan’s Communist Party and Liberal Democratic Party. There will be the signing of an agreement on a vision on agricultural co-operation, and a financial contract between VietJet Air and a Japanese bank allowing VietJet Air to purchase four aircraft from Airbus.

Japan will also sign an agreement with Vietnam to provide 200 million yen ($1.66 million) in funding for Vietnam to ensure maritime security.

Vietnam’s Hung Yen provincial leaders will clinch a co-operative deal with Kanagawa.

On this occasion, Japan will officially open its door to Vietnam’s mango.

For the first time in the history of their partnership, the two countries will agree on the co-operative concept of “economic connectivity”, which is particularly focused on the connectivity of development strategy, and improvement of production capacity and human resources.

The two countries’ trade turnover reached $27.62 billion, up 9.4 per cent on year. In this year’s first half, the figure hit nearly $14 billion. Japan is also Vietnam’s second largest foreign investor. As of August 20, 2015, it had 2,725 valid investment projects in Vietnam, registered at $37.94 billion. Japan is also Vietnam’s biggest bilateral ODA donor, which occupies 30 per cent of total international ODA for Vietnam.