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Viet Nam–Japan High-Level Economic Conference held

VGP - Prime Minister Pham Minh Chinh attended the Viet Nam–Japan High-Level Economic Seminar held in Ha Noi on March 7 to explore new possibilities for bilateral relations towards the future.

March 07, 2023 5:49 PM GMT+7
Viet Nam–Japan High-Level Economic Conference held  - Ảnh 1.

Prime Minister Pham Minh Chinh attends the Viet Nam–Japan High-Level Economic Seminar on celebration of the 50th anniversary of diplomatic ties, Ha Noi, March 7, 2023 - Photo: VGP

The seminar was jointly organized by the Vietnamese Ministry of Planning and Investment, the Japanese Embassy in Viet Nam, the Japan Business Federation, in celebrations of the 50th anniversary of the countries’ diplomatic relationship (September 21).

In his remarks, Prime Minister Pham highlighted taht the Viet - Japan friendship and cooperation have been unceasingly reinforced and developing in various fields.

Remarkablly, both sides have established legal frameworks in economic, trade and investment ties and become members of new-generation free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP). 

Japan is the top official development assistance (ODA) provider for Viet Nam with ¥2,700 billion, including ¥100 billion worth of non-refundable aid and ¥180 billion for technical cooperation. 

Japan has poured nearly US$70 billion in over 5,000 valid projects in Viet Nam, ranking third among 141 nations and territories investing in the Southeast Asian nation. 

Meanwhile, Viet Nam has invested in 104 projects in Japan with the total investment capital of nearly US$19.2 million, making Japan the 36th among 79 nations and territories receiving investment from Vietnamese investors. 

Regardless negative impacts of the COVID-19 pandemic, the bilateral trade hit nearly US$50 billion in 2022, making Japan the fourth largest trade partner of Viet Nam, of which Viet Nam earned US$25 billion from exporting to Japan.  

Viet Nam expects that foreign direct investment enterprises, in general, and Japanese firms, in particular, will strengthen the training of high-quality human resources, speed up research and development and promote innovation in order to make Viet Nam a center of the global and regional supply chain, said the PM.

With the spirit "harmonious interests, shared risks", the Vietnamese Government will definitely coordinate with and create favorable conditions for Japanese investors to successfully carry out investment projects in the country, he added.

Pham suggested Viet Nam and Japan explore possibilities of fostering collaboration in technology, digital transformation, supply chain diversification and green development. 

At the event, delegates discussed issues related to green transition, digital transformation, cooperation in energy, evaluation on development cooperation, Viet Nam-Japan economic cooperation ties and future orientations, evaluation on the Phase VIII of the Viet Nam-Japan Joint Initiative and orientations for the Phase IX.