Forum looks to improve Vietnam-Japan cooperation in global supply chain

A Vietnam-Japan policy research forum entitled ‘New Dynamism in Asia-Pacific Supply Chains beyond COVID-19: Implications for Japan-Vietnam Cooperation’ was held in Hanoi on March 3.

The event was jointly organised by the Toshiba International Foundation (TIFO), the Central Institute for Economic Management (CIEM) and the Graduate School of Public Policy - the University of Tokyo.

CIEM Director Dr Tran Thi Hong Minh said since COVID-19 broke out in late 2019, business activities have encountered difficulties due to material shortages, higher prices and rising transportation costs. 

Participants said that Vietnam and Japan hold ample room for cooperation as the two countries share similar traditional and cultural values, and are signatories of numerous regional and international business-finance institutions or agreements.

The two countries are supplementary in terms of development level, technology, trade and population structures, among others, they said.

Recommendations to strengthen cooperation between Vietnam and Japan were also delivered at the event, namely ensuring labour supply, effectively carrying out an economic recovery and development plan and creating new momentum for improvement of investment-business climate and strengthening trust between foreign enterprises and domestic companies.

Japan is among the leading foreign investors in Vietnam in terms of registered cumulative investment capital. Of the amount, manufacturing and processing account for more than 65%, the forum heard.