National Assembly Chairman receives delegation of Japan Federation of Economic Organizations

On the morning of March 28, at the National Assembly House, National Assembly Chairman Vuong Dinh Hue received Mr. Masayoshi Fujimoto and Mr. Masayuki Hyodo, Chairman of the Japan-Vietnam Economic Committee of the Japan Federation of Economic Organizations (Keidanren), along with a number of leaders of leading Japanese corporations that are members of Keidanren, who came to Vietnam to attend the High-level Meeting to kick off phase 1 of the Vietnam-Japan Joint Initiative in the New Era.

National Assembly Chairman Vuong Dinh Hue speaks at a reception for the Japan Federation of Economic Organizations. (Photo: DUY LINH)

The National Assembly Chairman welcomed and appreciated the cooperation and valuable contributions of Keidanren as well as the role of the two Chairmen and leaders of Japanese corporations and enterprises in promoting relations between the two countries, serving as a bridge to help Japanese enterprises invest more in Vietnam.

Mr. Masayoshi Fujimoto and Mr. Masayuki Hyodo thanked National Assembly Chairman Vuong Dinh Hue for receiving the delegation; expressed their joy that the two countries had upgraded their relationship to a Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the world; and said that, entering a new stage of development, from a business perspective, Keidanren wishes to continue promoting economic cooperation between the two countries; said that Vietnam has political stability, economic development, and a population exceeding 100 million people. The announcement at the end of December 2023 by the Japan Bank for International Cooperation (JBIC) showed that in 2023, Vietnam rose to second place in a survey of Japanese manufacturing enterprises on countries or regions with the best business prospects. Emphasizing that with the Asia Zero Emission Community (AZEC) Initiative, Japan considers Vietnam an extremely important partner.

The National Assembly Chairman expressed his delight at the positive development of the Vietnam-Japan relationship in all areas, especially politics, economics and people-to-people exchanges; especially after the two countries decided to upgrade their relationship to a comprehensive strategic partnership for peace and prosperity in Asia and the world in November 2023. This is a highlight of the 50th anniversary of the establishment of Vietnam-Japan diplomatic relations (1973-2023), opening up the potential for deeper cooperation between the two countries.

Mr. Masayuki Hyodo, Vice Chairman of the Board of Members of Keidanren, President and CEO of Sumitomo Corporation, Chairman of the Japan-Vietnam Economic Committee spoke at the reception. (Photo: DUY LINH)

Appreciating the successful implementation of the Vietnam-Japan Joint Initiative over the past 20 years, the National Assembly Chairman affirmed that Vietnam always values and supports Japanese enterprises in investing and doing business as well as participating in policy recommendations, reforming administrative procedures, and improving the investment environment in Vietnam.

The National Assembly Chairman was pleased to know that on March 27, 2024, the two Presidents co-chaired the kick-off meeting of the Vietnam-Japan Joint Initiative in the New Era, Phase 1 with Minister of Planning and Investment Nguyen Chi Dung and Japanese Ambassador to Vietnam Yamada Takio. This is a specific and significant step in implementing the Joint Statement on upgrading Vietnam-Japan relations to a Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the world. Accordingly, Phase 1 of the Vietnam-Japan Joint Initiative in the New Era includes 5 main groups of issues: Promoting the Asian Net Zero Emission Community/Green Transformation (AZEC/GX); Promoting innovation and digital transformation (DX); Strengthening the supply chain, including developing supporting industries; Training high-quality human resources; Reforming mechanisms to improve the investment environment.

Discussing the 5 contents in phase 1 of this Initiative, on reforming the mechanism to improve the investment environment, the National Assembly Chairman said that the National Assembly is working with the Government to develop a law on industry, including supporting industry. The new Electricity Law has been partially amended to allow private investment in the power grid. The authorities are reviewing to be able to fundamentally amend this law, which is closely related to the Power Plan VIII.

The National Assembly Chairman affirmed that with its function as a legislative body, supervising and deciding on important national issues, the Vietnamese National Assembly always listens to the opinions of businesses in the spirit that no opinion is sent without being listened to and explained specifically. The National Assembly Committees can participate in the implementation of the Vietnam-Japan Joint Initiative in the new era.

At the meeting, the two co-chairs and representatives of several Japanese enterprises wishing to expand business and investment in Vietnam, mentioned cooperation in training high-quality human resources, and expressed their hope that administrative procedures and the investment and business environment would continue to be improved.

Taking note of the opinions, the National Assembly Chairman shared Vietnam's current efforts in implementing Resolution No. 29-NQ/TW on fundamental and comprehensive innovation in education and training; including reviewing and promoting the development of the education system, teachers, public-private partnership in education, etc.

Mr. Masayoshi Fujimoto, President and CEO of Sojitz Corporation, Chairman of the Japan-Vietnam Economic Committee, spoke at the reception. (Photo: DUY LINH)

Along with the general review of the legal document system in 2023, in 2024, a general review of administrative procedures will be conducted, including in the field of investment and business. This will contribute to further promoting reform, improving the efficiency of administrative procedure settlement, and preventing the "creation of sub-licenses" and additional procedures that cause inconvenience to businesses and people. The National Assembly will supervise this work.

On this occasion, the National Assembly Chairman highly appreciated the Asian Zero Emission Community Initiative of the Japanese Government; at the same time, he shared that AZEC balances the goals of energy security and energy transition. Every country considers energy security a matter of “survival” and green energy transition is a top priority. Therefore, AZEC is suitable for the current reality in Asian countries.

Welcoming the launch of this Initiative, the National Assembly Chairman hoped that the parties would have specific, practical and effective plans and programs, clarifying the mechanism, from the nature of cooperation to human resources, resources, and responsibilities of each party, and have a summary assessment of previous cooperation programs. The two sides will strive to cooperate and actively implement their commitments to achieve the specific goals set out, towards the common prosperity of both countries' business communities, contributing to deepening the good relationship between Vietnam and Japan.

The National Assembly Chairman said that in cooperation implementation, it is necessary to properly resolve the linkage of technology transfer, mobilize finance and resources, have a scientific implementation mechanism, and consult with the people, the business community, and relevant agencies at the central and local levels, including elected agencies...

The National Assembly Chairman also emphasized that, along with equitable energy transition, digital transformation is a process that no country can stay out of. Digital transformation involves digital trust, national digital sovereignty, cyber security and safety, etc. It is global, cross-border transactions, global connectivity and coordination. Therefore, when considering digital transformation, we must consider energy transformation.

In supply chains and supporting industries, the key is the connection between Vietnamese enterprises and foreign-invested enterprises (FDI). Vietnam prioritizes enterprises that focus on developing secondary investors to form value chains in each region.

Scene of the reception at the National Assembly House. (Photo: DUY LINH)

Along with that, the National Assembly Chairman emphasized the important role of training high-quality human resources and reforming the investment environment, policy institutions, the participation of relevant agencies, including the legislative body, the coordination of enforcement agencies, and the role of the "commanding" agency in implementing the Vietnam-Japan Joint Initiative in the new era.

The National Assembly Chairman affirmed that the National Assembly will continue to create conditions to promote, supervise, and is ready to participate in perfecting institutional policies to contribute to the effective implementation of this Initiative.

In that spirit, the National Assembly Chairman suggested that the Vietnam-Japan Economic Committee as well as Keidanren continue to coordinate with Vietnamese agencies to strengthen policy dialogue activities, provide information and experience to Vietnamese authorities in the process of perfecting laws and policies to further improve Vietnam's investment environment, and serve as a bridge to help Japanese enterprises invest more in Vietnam.

Appreciating the survey results in the announcement of JBIC on Vietnam rising to second place in the survey of Japanese manufacturing enterprises on countries or regions with the best business prospects, the Chairman of the National Assembly said that this shows the investment and business environment of Vietnam as well as the interest of Japanese enterprises in Vietnam. The National Assembly and the Government of Vietnam have been, are and continue to cooperate, support and create all conditions for enterprises, including Japanese enterprises, to increase investment in Vietnam as well as Vietnamese enterprises to go to Japan.

The National Assembly Chairman hopes that the Vietnam-Japan Economic Committee as well as Keidanren will carry out activities to promote the image, investment environment, potential and investment cooperation opportunities of Vietnam to large Japanese corporations and enterprises; encourage and support Japanese enterprises to increase investment in Vietnam to diversify the supply chain, in line with the five main groups of content in phase 1 of the Vietnam-Japan Joint Initiative in the new era.

The National Assembly Chairman expressed his belief that with the political determination of the two countries' leaders and the support and contributions of Japanese businesses, bilateral economic, trade and investment cooperation will develop more and more strongly, bringing practical benefits to the people and businesses of the two countries, and promoting the further development of Vietnam-Japan relations.

According to Nhan Dan Newspaper

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