Vietnam, Japan partner to develop startups, innovative companies

Japan will help Vietnam develop startups and innovative companies within the 8th phase of the Vietnam - Japan Joint Initiative. (Photo: VNA)

Hanoi – A memorandum of understanding (MoU) on innovation cooperation has been signed, under which Japan will help Vietnam develop startups and innovative companies within the 8th phase of the Vietnam - Japan Joint Initiative.

The MoU was exchanged in Hanoi on May 1 by the Vietnam National Innovation Centre (NIC) under the Ministry of Planning and Investment (MPI), the Japanese Chamber of Commerce and Industry in Vietnam (JCCI), and the Japan External Trade Organisation (JETRO) in the presence of Prime Minister Pham Minh Chinh and his Japanese counterpart Kishida Fumio who was on an official visit to Vietnam.

Accordingly, JCCI and JETRO will assist with activities held by NIC to help develop startups and innovative companies of both countries.

Those activities will include giving advice on cooperation with Japanese businesses to Vietnamese firms; enhancing ties between the countries’ startups and innovative companies and investors; helping increase business connectivity, promote partnerships among firms in both countries, and establish startups and innovative companies; working together to organise events on innovation and startup; and exchanging relevant information.

NIC Director Vu Quoc Huy said Vietnam is forming an innovation network with the engagement of experts and intellectuals working in developed countries, including Japan, Australia, Germany, the US, and the Republic of Korea.

He noted in Japan, Vietnam has set up the Vietnam - Japan Open Innovation Network with thousands of members. This is part of the MPI-founded Vietnam Innovation Network, which aims to connect global intellectuals and experts to create and apply new technologies, products, business models, and management methods so as to help Vietnam achieve development targets.

At a recent seminar, JETRO Chairman Sasaki Nobuhiko said his organisation will boost dialogue and collaboration with the Vietnamese Ministry of Industry and Trade, Ministry of Information and Communications, and the MPI in terms of technological innovation, digital transformation, and supply chain diversification while helping further improve the business climate and reinforcing ties in technological innovation between the countries’ enterprises.