In his opening remarks, Bui Quang Hung, deputy director general of the Vietnam Trade Promotion Agency, stated that Vietnam has deeply integrated into the global economy. To date, it has joined 17 free trade agreements (FTAs) with more than 60 countries and territories, covering about 60% of global GDP. The country has also established comprehensive and strategic partnerships with many countries, including Japan.

According to the official, Vietnam is actively promoting the transformation of its growth model and economic restructuring. Its development strategy for the new period focuses on improving growth quality, emphasising efficiency and sustainability through the application of science, technology, and innovation.

The government of Vietnam has been implementing breakthrough policies to foster a technology-based economy, accelerate digital transformation, and encourage innovation. These factors play a key role in enhancing national competitiveness, generating high added value, and contributing significantly to GDP growth in the coming years.

Hung said Vietnam and Japan have maintained a comprehensive strategic partnership for many years. Japan is currently one of Vietnam’s most important economic partners. The two countries have engaged in many economic exchange activities, offering great opportunities for businesses on both sides.

Trade between Vietnam and Japan has grown steadily in recent years, hitting US$46.2 billion last year and about US$12 billion in the first quarter of this year. Key Vietnamese exports include agricultural products (rice, coffee, cashews, seafood), industrial goods (textiles, footwear, wooden furniture), electronic components, and machinery. Vietnam imports high-tech machinery and equipment, automobiles, and raw materials from Japan.

Hung affirmed that the trade structure of the two countries is complementary rather than competitive. Currently, Japan ranks among the top three foreign direct investors (FDI) in Vietnam and is a major partner in trade, tourism, and development cooperation.

Taking the floor, Kunihiko Hirabayashi, secretary general of the ASEAN - Japan Centre (AJC), noted that Vietnam has long been an attractive investment destination for Japanese businesses, thanks to its young and capable workforce, competitive production costs, strategic location, and active participation in next-generation free trade agreements.

He emphasised that even during times of global uncertainty, Vietnam remains a strategic and reliable partner for Japan. It continues to hold a prominent position in global trade, consistently strengthening its role in global value chains.

The AJC leader also suggested several promising areas of cooperation between Vietnam and Japan, such as manufacturing green and environmentally friendly products; promoting national branding for both countries; and co-developing joint brands in product segments where Vietnam’s production excellence and Japan’s reliability can complement each other. He also suggested cooperative initiatives to jointly enter emerging markets and develop supply chains.

In the healthcare sector, Hirabayashi noted the increasing demand from Vietnam, presenting promising opportunities for Japanese cooperation in research and development of pharmaceuticals and medical equipment.

Vietnam is not only a smart investment destination for Japanese investors, but also a great place to live, as it has a rich culture, friendly people, world-class cuisine, tourist attractions, and an improving education system and infrastructure, said the AJC leader.

At the conference, Nguyen Thi Thu Thuy, deputy director of the Centre for Trade and Investment Promotion Support under the Vietnam Trade Promotion Agency, introduced business and investment cooperation opportunities with Vietnam in the context of changes in global production and supply value chains.

She shared that Vietnam has numerous trade advantages thanks to its gateway location in Southeast Asia, a developed port system, abundant labour force with competitive costs, and a wide range of high-quality export products. The government is actively promoting administrative reforms and infrastructure investment to support import-export activities, while also assisting businesses through various trade promotion programmes, market information services, and technical support.

Thuy cited a survey conducted recently by the Japan External Trade Organization (JETRO), saying more than 60% of Japanese enterprises plan to expand their business in Vietnam in the future.

She also underscored that Vietnam is pursuing a selective and proactive approach to foreign investment, by prioritising quality, efficiency, technological advancement, and environmental friendliness. The country encourages projects involving new, high and green technologies, alongside modern governance systems, technology transfer, and integration into global value and supply chains.

Immediately after the conference, 27 Vietnamese enterprises participated in a business matching session with Japanese companies operating in the fields of agriculture and food, mechanical and electronic components, construction materials, household goods, handicrafts, perfumes, among others.

The conference was jointly organised by the Vietnam Trade Promotion Agency and the Vietnam Trade Office in Japan under the Ministry of Industry and Trade of Vietnam, in collaboration with the ASEAN – Japan Centre.

Vietnam considers Japan a reliable partner in new development era

VOV.VN - Deputy Prime Minister Nguyen Chi Dung affirmed that Vietnam consistently considers Japan a reliable partner in the new era of development, during his meeting with Japanese Prime Minister Shigeru Ishiba in Tokyo on May 30.