NA Chairman holds working breakfast with Japan Business Federation leaders

The meeting saw Masayoshi highlight the close-knit relationship between Japan and Vietnam over the past five decades across multiple fields such as economics, diplomacy, security, culture, and personnel exchanges.

He stated that 2023 marked a significant milestone with the 50th anniversary of joint diplomatic relations. Most recently, in October Japanese Prime Minister Shigeru Ishiba met with Vietnamese Prime Minister Pham Minh Chinh at the 44th and 45th ASEAN Summits and related meetings in Vientiane, Laos, and with President Luong Cuong on the sidelines of the APEC Economic Leaders’ Week in Lima, Peru, in November.

The Japanese and Vietnamese PMs also held a discussion at the G20 Summit in Brazil last month. Showing his elation at the dynamic ties that exist between the two countries at multiple levels, Masayoshi affirmed that the Japanese business community will continue to contribute to the stronger development of joint relations, particularly in trade, investment, infrastructure, and human resources development, with the ultimate goal of deepening economic ties between the two nations.

He outlined that the Japan-Vietnam Joint Initiative, originally launched back in 2003, serves as a long-term effort to establish a foundation for economic linkages. Through this initiative, Japanese companies have played a crucial role in encouraging direct investment into the Vietnamese market, thereby creating jobs whilst contributing to the recovery and growth of the Vietnamese economy.

Most notably, in March, the two countries consented to launch the Japan-Vietnam joint initiative in the new era, he stated, voicing  his hope that Japanese businesses and economic groups will soon enjoy stable co-operation outcomes in areas such as green development, digital technologies, innovation, and high-quality human resources development. He therefore asked for the support of the Vietnamese NA, Government and NA Chairman Man himself in these efforts.

For his part, NA Chairman Man welcomed the valuable contributions of Keidanren and the role of the two co-chairs, as well as Japanese business leaders in boosting bilateral relations, serving as a bridge for financiers from the Far East nation to land more investments in Vietnam.

He added that his official visit aims to further Vietnamese foreign policy while proactively reinforcing the joint comprehensive strategic partnership for the causes of peace and prosperity in Asia and around the world, bringing it to a new phase of effective and substantive co-operation across various fields.

The top legislator incentivized both nations’ businesses and localities in a bid to seize upon opportunities to enhance exchanges and co-operation, leverage each other’s strengths, and continue propelling the economic relationship forward, all whilst maintaining its role as a highlight of bilateral ties and a driver for mutual development.

At the event, representatives from Japanese businesses and Vietnamese authorities examined ways in which to ramp up co-operation towards the goal of achieving carbon neutrality by 2050. The discussions also covered expanding investment activities in the nation in areas such as infrastructure development, digital transformation, green transition, semiconductors, and the training of high-quality human resources, as well as ensuring electricity supply for production.

Speaking highly of the proposals from the Japanese enterprises, the top Vietnamese legislator said that he will direct the parliament's agencies to alongside with the Government and relevant ministries and sectors to study and institutionalise them. This will ultimately help to improve the business climate and encourage stable and long-term foreign investment in Vietnam, particularly those from Japan.

He accentuated recent legislative revision in a bid to further facilitate the operation of foreign firms, expressing particular hope that the amended Electricity
Law, which was adopted at the recent eighth session of the 15th National Assembly, will open up various collaboration and investment opportunities in the sector for both domestic and foreign enterprises.

The top Vietnamese legislator also expressed his hope for continued work with Japan in the area of technology transfer for the development of a harmonious transport system to serve the people and the economy.

Describing institution, infrastructure and human resources as the three bottlenecks for Vietnamese development, he said the nation is working to remove the roadblocks, fine-tune existing laws and issue new policies to prepare the groundwork for a new era – the era of the nation’s rise.

He said he hopes that the joint comprehensive strategic partnership will open up numerous collaboration opportunities for the two countries, including business communities.

On the occasion, the Vietnamese NA leader also witnessed the exchange of several co-operation documents covering such areas as organization of local administration conferences, energy, industrial park, logistics, and aviation services between localities and enterprises of both countries.