Prime Minister Phạm Minh Chính and Japanese enterprise representatives take a group photo on Saturday. — VNA/VNS Photo

HÀ NỘI — Prime Minister Phạm Minh Chính has called on Japanese enterprises to continue placing their trust in and deepening their engagement with Việt Nam and to consider Việt Nam a strategic base for expanding their investment, production, and business activities.

The PM made the call while chairing a dialogue with Japanese businesses in Hà Nội on March 1 to promote cooperation and investment in Việt Nam for sustainable and rapid development of both sides.

Highlighting the growth of Việt Nam-Japan relations over the past 52 years with the establishment of a comprehensive strategic partnership for peace and prosperity in Asia and the world, PM Chính noted that bilateral economic, trade, and investment cooperation continued to play a pivotal role, standing out as a highlight in the bilateral relationship.

Japan is currently one of Việt Nam's leading economic partners — the largest provider of official development assistance (ODA) and labour cooperation, the third-largest investor, and the fourth-largest trade and tourism partner.

At present, Japan has over 5,500 investment projects in Việt Nam, with bilateral trade turnover in 2024 exceeding US$46.2 billion. In terms of ODA, Japan has committed more than $20 billion in concessional loans, nearly $750 million in non-refundable aid, and approximately $1.34 billion for technical cooperation.

Japanese investments span a wide array of sectors and are present in numerous localities across Việt Nam. According to the Japan External Trade Organisation (JETRO), 56.1 per cent of Japanese enterprises expressed a desire to expand their operations in Việt Nam within the next one to two years — the highest rate in ASEAN. "This clearly shows that Việt Nam remains an attractive investment destination for Japanese businesses," the PM underscored.

At the dialogue, Japanese businesses praised Việt Nam’s investment climate and expressed strong interest in expanding investments in infrastructure, semiconductors, renewable energy, clean energy, including nuclear energy, automotive manufacturing, and commercial centres.

However, they urged Việt Nam to further streamline administrative processes, speed up decision-making, and improve legal frameworks for emerging sectors like data governance. They called for prompt resolution of bottlenecks in major projects, especially ODA-funded infrastructure, and highlighted ongoing issues with a number of projects like HCM City Metro Line 1 and the Nghi Sơn Refinery.

PM Chính acknowledged these concerns while assuring the firms that Việt Nam’s ongoing efforts to streamline the political system's organisational apparatus aimed for higher efficiency, with the highest purpose of providing the best services to citizens and businesses.

For the HCM City Metro Line 1 project, he directed HCM City authorities to resolve key project issues by April 30, 2025.

He said that in 2025, Việt Nam aimed to prioritise growth, targeting an 8 per cent GDP increase, thereby building momentum for double-digit growth in the subsequent years, stressing that the Government would continue pursuing three strategic breakthroughs - institution, infrastructure, and high-quality human resources to serve the country’s fast and sustainable growth.

The Vietnamese leader also called on Japanese firms to partner with Việt Nam in achieving the ambitious 8 per cent growth target for 2025 and double-digit growth in the following years.

He said he hoped Japanese businesses, with their experience, resources, and credibility, would help Việt Nam access green and sustainable financing through initiatives such as the 'Asia Zero Emission Community' (AZEC) and support innovation through Japan’s 'Innovation/Digital Transformation Fund.'

He reiterated Việt Nam’s policy of selectively attracting foreign investment, prioritising projects that offer quality, efficiency, technological advancement, and environmental protection.

Việt Nam would welcome investment in key sectors such as the green economy, digital economy, circular economy, knowledge economy, science and technology, innovation, electronic components, electric vehicles, semiconductors, new energy like hydrogen and renewables, financial hubs, green finance, biotechnology, healthcare, and high-tech agriculture.

PM Chính urged both sides to enhance cooperation in strengthening supply chains, developing supporting industries, and building a skilled workforce.

He suggested that Japanese enterprises accelerate disbursement and simplify procedures for ODA projects, and expedite their decision-making processes, while harmonising regulatory frameworks between the two countries.

The Vietnamese Government was firmly committed to ensuring that the foreign-invested sector would remain an integral part of the national economy, while guaranteeing legitimate rights and interests of all investors, and maintaining political stability, social order, and institutional and policy consistency to foster investment, the PM affirmed. — VNS