Along with the flow of 50 years of good diplomatic relations between Vietnam and Japan, the cooperative relationship between Phu Tho and Japanese partners has also been increasingly developed, becoming one of the most reliable and important partners in many fields of the province. The results achieved together with mutual trust are the basis for the two sides to continue to develop deeper and broader relations and cooperation programs in the future.
Phu Tho province delegation visited and worked with leaders of Nara province (Japan).
Japan is currently one of the partners that has signed the most bilateral and multilateral free trade agreements with Vietnam, such as the Vietnam-Japan Economic Partnership Agreement (VJEPA), the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP), the Comprehensive and Progressive Agreement for Trans- Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership Agreement (RCEP).
In addition, Vietnam and Japan also have many official cooperation mechanisms to address economic and trade issues, including the Joint Committee on Trade, Industry and Energy Cooperation between Vietnam and Japan, the Vietnam-Japan Cooperation Committee, and the Vietnam-Japan Joint Initiative. In particular, the structure of import and export goods between the two countries is clearly complementary, with no direct competition in terms of types. The advantages in trade cooperation have pushed the import and export turnover of the two countries to grow steadily and reach nearly 50 billion USD in 2022, making Japan the fourth largest trading partner of Vietnam, of which Vietnam's export turnover to Japan reached nearly 25 billion USD.
For Phu Tho, Japan is identified as one of the important partners in investment and trade cooperation, as well as cultural exchange. That good cooperative relationship is increasingly consolidated and developed, going deeper and more substantial.
Established in 2001, with 100% Japanese investment capital, Teijin Frontier Shonai Co., Ltd. in Van Co Ward (Viet Tri City) is a prestigious enterprise in the field of garment manufacturing and processing. With nearly 1,000 workers and employees, the total production output in the first 9 months of the year of the company reached over 234,000 products; export value reached over 5 million USD.
In addition to contributing to the State budget, the company has made efforts to improve the quality of its workforce. Workers and employees are not only trained in professional skills but also given detailed instructions on working style.
Appreciating the investment environment in the province, Mr. Hamada Ryuji - Chairman and General Director of Teijin Frontier Shonai Co., Ltd. said: “Phu Tho has a favorable location, security, and political stability, so it is chosen by many foreign enterprises, including those from Japan, to invest. With more than 20 years of establishment and operation, the company has received great support and facilitation from the province, relevant departments and branches so that the project fully complies with the provisions of Vietnamese law. We hope to continue to be associated with the province for a long time and receive more support to implement expansion investment projects in the province, and at the same time introduce the investment environment in Phu Tho to investors in Japan”.
Teijin Frontier Shonai Co., Ltd. is one of the Japanese enterprises investing in production and business in the province, creating stable jobs for many local workers.
Currently, the province has 7 Japanese investment projects with a total registered capital of about 34 million USD, focusing on areas such as wood processing, textiles, and footwear. Of which, the largest FDI project is the garment factory complex in Phu Ha Industrial Park of Matsuoka Phu Tho Co., Ltd., a member of Matsuoka Group, with a total investment capital of 25 million USD, creating jobs for more than 2,000 local workers.
Along with promoting socio-economic development, Phu Tho has also actively expanded bilateral cooperation with Japanese localities. In particular, since establishing friendly cooperation relations in 2014, Phu Tho and Nara provinces have actively implemented exchange activities, strengthened friendly relations and expanded economic cooperation, promoted trade and investment in the fields of education - training and culture...
From the very first days of cooperation, with the attention of the leaders of the two provinces, Phu Tho has attracted more and more Japanese investors. Based on the good traditional relationship between the two sides, in April 2018, in order to promote investment attraction from Japan, with the support of the Ministry of Foreign Affairs, the Embassy of Vietnam in Japan, the Japan External Trade Organization (JETRO), the delegation of Phu Tho province successfully organized the Investment Promotion Conference in Tokyo, Japan.
During the working visit of Phu Tho province to Nara province, Japan last September, the leaders of the two provinces exchanged and shared many development experiences in various fields, while continuing to actively promote practical and highly effective friendly cooperation. Nara province committed to supporting Phu Tho province in calling for Japanese enterprises to invest in the following fields: Construction of infrastructure for industrial parks and industrial clusters; high-tech industry; mechanical engineering; electrical and electronic assembly; chemical and pharmaceutical industries...; supporting Phu Tho province in exporting some of the province's strengths such as tea, wood, lacquer, agricultural products and food, supporting industries, precision mechanics, electronic components... to Nara; supporting Phu Tho in finding Japanese partners and enterprises to invest in infrastructure in tourist areas; creating conditions for the province to access ODA loans to invest in the fields of infrastructure, hunger eradication and poverty reduction, and improving people's lives.
The works, projects, humanitarian programs, cultural and artistic exchange activities imbued with the cultural identity of Vietnam - Japan, social activities imbued with the affection between the two countries, two peoples,... are important milestones and premises for Phu Tho and Japanese partners to continue developing cooperation programs as well as fostering and deepening the friendship between Vietnam - Japan.
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