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Multi-billion dollar deals signed between Japan and Việt Nam at business conference

Update: November, 25/2021 - 16:46

 

Vietnamese Prime Minister Phạm Minh Chính on Thursday witnessed the signing ceremony of 44 cooperative agreements worth billions of US dollars between Việt Nam and Japan at the Việt Nam-Japan investment promotion conference. — VNA/VNS Photo Dương Giang

HÀ NỘI — Prime Minister Phạm Minh Chính on Thursday participated in the Việt Nam-Japan investment promotion conference, during which 44 cooperation agreements worth billions of US dollars were signed between agencies and enterprises.

The annual event, co-organised by the Vietnamese Ministry of Planning and Investment and the Japan External Trade Organization (JETRO) in Tokyo, this year took place during PM Chính's visit to the country. It has been resumed after a two-year suspension due to COVID-19 outbreaks and attracted thousands of participants, both in-person and virtually.

Addressing the conference, PM Chính said the bilateral extensive strategic partnership has entered a new stage of cooperation and development with this visit, and especially following his high-level talks held with Japanese Prime Minister Fumio Kishida and the release of a joint statement on bilateral cooperation earlier on Wednesday.

“This is a good opportunity to promote investment and create a better business environment,” said the Vietnamese Government leader, adding that despite global complication and strategic competition, Việt Nam-Japan ties “have never been as well and so good.”

He went on to affirm that Việt Nam remains an attractive investment destination for foreign businesses thanks to its political stability coupled with an abundant skilled workforce.

“We will guarantee political stability for your long-term investment,” he assured a host of leading businesses in attendance at the forum.

In particular, the Prime Minister emphasised the importance of the human factor in attracting investors.

He said that Vietnamese people possess many valuable qualities that meet the requirements of investors such as creativity, hard work, humble listening, intelligence, flexibility in all conditions.

The PM added that the more difficulties they face, the more unity, endeavours they display to overcome the hardship, reaffirming themselves and becoming mature.

Human rights were enshrined in Việt Nam’s first-ever Constitution in 1946 and since then, human rights regulations have been increasingly improved. The 13th National Party Congress also emphasised the issue of human security, seeing people at the centre, the subject, the goal, and the driving force of development, PM Chính said, adding that investors coming to Việt Nam can be completely at ease in terms of security and Việt Nam will continue to promote the human factor in the development process.

Along with that, Việt Nam is actively implementing three strategic breakthroughs in institutional improvement, infrastructure development, and human resource training.

Việt Nam’s business investment environment is becoming increasingly attractive, stable, and transparent.

Việt Nam is committed to creating favourable conditions in terms of institutions and administrative procedures, paying attention to facilitating the operations of foreign businesses, including Japanese, to enable their continued investment and expansion in the Việt Nam market.

According to the Vietnamese PM, the world is in the midst of confronting numerous challenges, including the COVID-19 pandemic, climate change, resource depletion, environmental pollution, and an aging population that needs to be addressed.

These issues are of global nature therefore global approaches are needed to overcome challenges and develop together, he said, adding that Việt Nam would need support from the international community, including investors, in terms of human resources training, application of new technology, green credit, and better governance.

He urged Japanese businesses to expand investment cooperation where Japan has strengths and Việt Nam has great needs and opportunities, such as digital transformation and high-quality human resource training, strategic infrastructure, agricultural development, green economy, circular economy, and climate change response.

“There are challenges for sure, but opportunities remain the dominant factor. On the basis of the profound ties between the two countries, the trust gained after 50 years of diplomatic relations, we can certainly overcome the momentary hardship, with eyes set on long-term vision and mutual wins,” the PM told the conference.

Representatives from Japan’s businesses said that investors’ trust has increased thanks to Việt Nam’s efforts in improving the business environment.

Japanese Minister of Economy, Trade and Industry, Koichi Hagiuda, pledged to boost economic and trade ties between the two nations in a more sustainable manner, adding that Japan will do its utmost to support the country in launching the US$10 billion-Asia Energy Transition Initiative (AETI) which is sponsored by Japan.

Earlier, during the meeting between PM Chính and Koichi Hagiuda, the Japanese Minister suggested both sides continue the effective realisation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

As the Việt Nam National Green Growth Strategy was issued, PM Chính urged Japan to continue supporting Việt Nam in completing institution, improving quality of human resources in line with innovation, green financial resources, and green technology, national management competence, expanding export market, creating more jobs and increasing incomes for people. — VGP/VNS

 

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