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Viet Nam seeks Japanese investments in renewable energy

VGP – Prime Minister Pham Minh Chinh welcomes Japanese investors to continue investment expansion in Viet Nam as the Southeast Asian country has switched away from zero COVID-19 policy to safe adaptation to the pandemic.

November 23, 2021 8:20 PM GMT+7

Prime Minister Pham Minh Chinh hosts reception for Tsutomu Sugimori, Eneos Chairman and CEO, Tokyo, Japan, November 23, 2021. Photo: VGP

Pham made the above statement during his meetings with leaders of Eneos, Aeon, Marubeni, Fast Retailing, Mitsui, and Sojitz groups in Tokyo on Tuesday.

Pham, who is on an official visit to Japan, named a series of areas that Viet Nam gives priority to attracting foreign investment, such as renewable energy, sustainable development, climate change adaptation, digital transformation, innovation and human resource training.

Viet Nam is drafting a new national power development plan for the 2021-2030 with a focus on clean and renewable energy, said Pham.

He affirmed the Government of Viet Nam commits to creating an open, transparent and fair business environment for foreign investors, including those from Japan.

Leaders of the Japanese business giants highlighted Viet Nam's business climate has become increasingly improved and informed PM Pham about their investment plans in ASEAN member State.

Tsutomu Sugimori, Eneos Chairman and CEO said his company started investment in 1990s and became a strategic partner of the Viet Nam National Petroleum Group (Petrolimex) in 2016.

Aeon, which has poured US$1.18 billion in Viet Nam since 2014, planned to double the number of its trade centers in the country, according to Aeon President and CEO Motoya Okada.

Fast Retailing began business operation in Viet Nam since 2018 and Uniqlo – a wholly owned subsidiary of Fast Retailing is now the partner of 45 garment companies in Viet Nam, said Tadashi Yanai, Fast Retailing Chairman and CEO.

Masayoshi Fujimoto, Sojitz President and CEO said Sojitz runs 17 joint ventures in Viet Nam with total revenue of around US$ 1 billion./.

By Thuy Dung