Prime Minister Pham Minh Chinh hosted a roundtable discussion with Japanese businesses on March 1 in Hanoi, aiming to augment investment cooperation for Vietnam’s fast and sustainable development.

He highlighted the robust and substantive growth of Vietnam-Japan relations over the past 52 years, particularly following their upgrade to a Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the world. Economic, trade, and investment cooperation remains a key pillar, with Japan being one of Vietnam’s top economic partners. Japan is currently Vietnam’s largest provider of ODA, its leading labor cooperation partner, and the third-largest investor. It also ranks as Vietnam’s fourth-largest trade and tourism partner, with over 5,500 Japanese investment projects and a bilateral trade volume exceeding US$46.2 billion in 2024.

Regarding ODA, Japan has provided Vietnam with over US$20 billion in concessional loans, nearly US$750 million in non-refundable aid, and approximately US$1.34 billion in technical cooperation support.

During the discussion, Japanese enterprises applauded Vietnam’s investment environment and expressed their desire to further contribute to the country’s economic development, particularly in infrastructure, semiconductors, renewable energy, automobiles, and trade. They also recommended streamlining administrative procedures, accelerating decision-making processes, improving legal frameworks, and dealing with challenges in ODA and infrastructure investment projects.

PM Chinh acknowledged their feedback and assigned the Government Office to compile and propose concrete solutions based on the principles of clear responsibilities, clear tasks, clear timelines, and clear outcomes. Addressing concerns over Vietnam’s ongoing administrative restructuring, he emphasized that the reforms aim to enhance efficiency and facilitate business operations.

He instructed Ho Chi Minh City to coordinate with relevant ministries and the Japanese side to resolve all issues related to Metro Line No.1 by April 30, 2025, ensuring transparency, cooperation, and shared benefits.

Looking ahead, he stressed that Vietnam targets an 8% GDP growth rate in 2025 as a stepping stone toward double-digit growth in the following years. The country continues to focus on three strategic breakthroughs: institutional reforms, infrastructure development, and human resource improvement under the principles of “streamlined institutions, seamless infrastructure, and smart governance.”

The cabinet leader called on Japanese businesses to capitalize on Vietnam’s cooperation potential and accompany the country in its development journey. He urged Japan to support Vietnam in accessing green investment, financial resources, and innovation funds.

Vietnam prioritizes investment in green and digital economies, semiconductors, renewable energy, biotechnology, healthcare, and high-tech agriculture, he went on.

PM Chinh also underlined the need for collaboration in supply chain development, supporting industries, labor quality enhancement, and ensuring a transparent and sustainable business environment.

He proposed that Japan expand its ODA programs, simplify procedures, and accelerate disbursement while encouraging Japanese businesses to strengthen their presence in Vietnam.

“The Vietnamese government is committed to ensuring that the foreign-invested sector remains a vital part of the economy, while protecting investors’ legitimate rights and maintaining an open, stable, and transparent investment environment,” the Government chief affirmed.

On the principle of “Listening – Sharing – Developing Together,” PM Chinh called on Japanese businesses to continue placing their trust in and staying engaged with Vietnam, with a long-term vision, deep thinking, and ambitious actions. He asked them to consider Vietnam as a strategic hub for expanding investment, production, and business activities, thereby making continuous contributions to the prosperity of both nations and the Vietnam-Japan Comprehensive Strategic Partnership for peace and prosperity in Asia and the wider world.

Why does Vietnam attract Japanese businesses?

VOV.VN - With its favourable geographical location, development potential, selective investment attraction policies, and high-quality human resources, Vietnam is fast becoming a competitive advantage in attracting foreign investment.

Vietnamese, Japanese businesses promote technology supply-demand connection

Enterprises from the port city of Hai Phong and Japan’s Kitakyushu city on October 2 took part in a technology supply-demand connection session held by the Hai Phong Department of Science and Technology and several Japanese units.