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Japan,Viet Nam get down to business

Update: July, 06/2012 - 09:24

TOKYO — Deputy Prime Minister Nguyen Xuan Phuc confirmed the Vietnamese Government has always created the best possible conditions for Japanese investors.

Phuc said this in talks with Hiromasa Yonekura, chairman of the Japan Business Association, Nippon Keidanren, here yesterday.

At their meeting, Phuc said that given the existing global economic slowdown, the Vietnamese Government was determined to restructure its economic, financial and monetary systems and enhance its legal system.

"In the mid and long-terms, Viet Nam will focus on effective economic management, giving priority to human resources training and infrastructure development. The country is also working out an industrial development strategy from now until 2020 as well as paying attention to the public-private-partnership model," Phuc said.

He went on to add that two-way trade hit US$21 billion last year and was projected to rise to $25 billion this year, saying that this figure had yet to match both countries' potential for co-operation.

Phuc suggested that Nippon Keidanren encourage Japanese firms to invest in Viet Nam and take part in activities marking the 2013 Viet Nam – Japan Friendship Year, which coincides with the 40th anniversary of diplomatic ties.

Yonekura said he was keen to contribute to Viet Nam's industrialisation and modernisation process by stepping up co-operation between Japanese and local businesses.

He also informed his guest of the visit made by President Truong Tan Sang in March, during which both parties agreed to increase co-operation in infrastructure development and mining.

Yonekura said he hoped that with this visit, Japanese businesses would gain a better insight into Viet Nam's demand for economic development co-operation. Later the same day, Phuc left Tokyo, concluding his visit to Japan. — VNS

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