Viet Nam, Japan celebrate diplomatic relations

Dignitaries to the event include Truong Thi Mai, Politburo member, permanent member of the Party Central Committee's Secretariat, and Head of of the Party Central Committee’s Organization Commission; Deputy Prime Minister Tran Luu Quang, Japanese Crown Prince Akishino and Crown Princess Kiko.

Addressing the event, Truong underscored the countries’ people-to-people exchange history dates back to more than 13 centuries ago and since the establishment of diplomatic relations on September 21, 1973, both sides have joined hands to build up an increasingly practical and efffective friendship and cooperation on the basis of cultural similarities and high mutual political trust.

Japan is Viet Nam's top economic, trade, investment, tourism, and labor partner and both sides are each other's crucial partners in regional and global levels, emphasized Truong.

She said that bilateral cooperation in education and culture, local-to-local and people-to-people exchanges have been strengthened to bring about positive outcomes.

The expansion of Viet Nam festivals and Japan festivals in both quantity and scale  as well as cultural exchanges have brought the two countries closer together, Truong noted.

Truong, who is also Chairwoman of the Viet Nam – Japan Friendship Parliamentarians’ Group, said the growth of the ties reflects their peoples’ aspiration for peace, development and prosperity of the two countries, contributing to similar progress regionally and globally.

Meanwhile, Japanese Crown Prince Akishino said lthere have been ively and dynamic bilateral exchange activities have been taking place, particularly between Vietnamese and Japanese youth and between localities.

Japanese Ambassador to Viet Nam Yamada Takio cited the Japan External Trade Organization (JETRO)’s latest survey as saying that Viet Nam is the second most favorite foreign business destination for Japanese firms in the future behind the U.S.

Japan is currently one of Viet Nam's most important economic partners and the first G7 country to recognize Viet Nam's market economy status.

The two-way trade has increased steadily over the years, reaching US$40 billion in 2020, US$42.7 billion in 2021, and US$47.6 billion in 2022. In the first eight months of 2023, the figure neared US$29.16 billion.

The Northeast Asian natoin is the third largest foreign investor in Viet Nam after South Korea and Singapore, with 5,168 active projects capitalized at more than US$71.02 billion as of August 2023.

Meanwhile, Viet Nam has 106 investment projects in Japan with total registered capital of about US$19.5 million.

Japan is also the largest ODA provider to Viet Nam, accounting for about 30 percent of the total ODA inflows to the Southeast Asian country, with US$29.3 billion, including US$1.8 billion in no-refundable aid.

Up to one million Japanese tourists visit Viet Nam a year.

About 500,000 Vietnamese people are living, working, and studying in 47 prefectures and cities in Japan, forming the second biggest foreign community there./.