President Trần Đại Quang and Prime Minister Nguyễn Xuân Phúc have hailed contributions made by the Japan Business Federation (Keidanren) to improving the investment climate in Việt Nam and advancing the strategic partnership between the two countries across sectors. — VNA/VNS Photo

HÀ NỘI — President Trần Đại Quang and Prime Minister Nguyễn Xuân Phúc have hailed contributions made by the Japan Business Federation (Keidanren) to improving the investment climate in Việt Nam and advancing the strategic partnership between the two countries across sectors.

At separate meetings with a working group of the Keidanren’s Japan-Việt Nam Economic Committee in Hà Nội yesterday, the two leaders appreciated the role played by the committee’s co-Presidents in promoting bilateral ties, especially in the realisation of the Việt Nam-Japan Joint Initiative.

President Quang described the initiative as an effective information channel helping competent Vietnamese agencies complete laws and policies in an effort to improve the local investment environment.

"The Vietnamese State always regards Japan as the country’s leading and long-term partner, and wishes to work together with Japan to push forwards the relationship in a more comprehensive and pragmatic fashion," he stressed.

The President suggested the two sides step up their economic ties as they still hold substantial potential for increased cooperation in this field.

The establishment of the ASEAN Community late last year and new-generation trade agreements such as the Trans-Pacific Partnership (TPP) agreement and the Regional Comprehensive Economic Partnership (RCEP) agreement are expected to afford multiple opportunities for the two countries to beef up their economic, trade and investment affiliation, he added.

Both leaders pledged to create a more stable, open and transparent business climate for foreign investors, including those from Japan.

Prime Minister Phúc affirmed the Vietnamese Government’s support for Japanese enterprises in their operation.

He noted his hope that the Japanese federation would help create big waves of investments in Việt Nam and the Vietnamese Government’s wishes for cooperation within the framework of the Việt Nam-Japan Joint Initiative to enter the next level.

For his part, Kyohei Takahashi and Kuniharu Nakamua, co-Presidents of the Japan-Việt Nam Economic Committee, reassured their hosts that Japan always attached importance to cooperation with Việt Nam.

Kyohei Takahashi said trade between the two countries had quadrupled since the Việt Nam-Japan Economic Partnership Agreement took effect in 2009. Japan had poured the largest amount of investments in Việt Nam among ASEAN member countries, with over 1,500 businesses operating.

A survey conducted by Keidanren last March shows that Việt Nam tops the list of countries where Japanese firms intend to invest in the next five to ten years.

Kuniharu Nakamua said Việt Nam had a lot of advantages to attract investment, like geological conditions, an abundant and hard-working labour force as well as its engagement in the TPP and RCEP agreements.

He suggested the Vietnamese Government promptly ratify the TPP to bring new economic, trade and investment opportunities to the two countries.

Keidaren is the largest business federation in Japan gathering 1,340 biggest Japanese firms, 109 industrial associations and 47 economic organisations at regional and local levels.

The Japanese working group is in Việt Nam to attend a meeting of the Joint Committee of the Việt Nam-Japan Joint Initiative to kick-start the sixth phase of the initiative.

The initiative, launched in April 2003 as a result of special co-operation between the two Governments, aims to create an open and transparent business and investment climate in Việt Nam through a policy dialogue between Japanese investors and relevant Vietnamese ministries and agencies. It also makes proposals to help competent Vietnamese agencies complete laws and policies. — VNS