Japanese Group Plans to Invest Billions of USD in 7 Sectors in Vietnam

On the afternoon of November 13, Prime Minister Pham Minh Chinh received General Director and CEO of Marubeni Corporation (Japan) Kakinoki Masumi, who is visiting and working in Vietnam, reported the Government Newspaper.

The Prime Minister and General Director Kakinoki Masumi expressed their delight at the fact that the Vietnam-Japan Extensive Strategic Partnership is developing well, strongly and substantially in many areas with increasingly consolidated political trust.

Japan is Vietnam's leading economic partner, the largest ODA provider, second in labor cooperation, third in investment and tourism, and fourth in trade.

People-to-people exchanges and local cooperation are increasingly expanding with nearly 100 pairs of localities having friendly and cooperative relations. The Vietnamese community in Japan is about 500,000 people, the second largest foreign community in Japan, making practical contributions to the socio-economic development of Japan.

The Prime Minister said that despite many challenges, Vietnam's economy has still seen a positive recovery. This is an important foundation, so more and more Japanese enterprises are investing and doing business in Vietnam, most of them are successful, and want to expand their investment in Vietnam.

General Director Kakinoki Masumi said that Marubeni Group has been investing in Vietnam since 1991; to date, it has invested about 90 billion yen (593 million USD) in Vietnam, creating jobs for 7,500 people.

Considering Vietnam as an important market in Asia, Marubeni's activities focus on areas such as: Import and export of goods; construction of thermal power plants and industrial plants, food processing and textile factories...

The General Director and CEO of Marubeni Group said that in the coming time, the group will continue to invest billions of USD in projects in Vietnam in 7 areas such as energy, processing, goods export, infrastructure development, and hopes that the Government will direct ministries, branches, and localities of Vietnam to promote the implementation of projects...

The Prime Minister welcomed the development plan of Marubeni Group in Vietnam in the coming time, including the O Mon II Gas Power Plant Project, Quang Ninh LNG Power Project, wind power and solar power farm projects, industrial park construction, projects to build factories to process food, forestry products, raw materials for export and smart city projects...

The head of the Vietnamese Government hopes that Japanese enterprises as well as Marubeni Group will seize opportunities and further increase investment in Vietnam.

Noting that Vietnam is focusing on innovation, digital transformation, green transformation, renewable energy development, e-commerce development, and implementing three strategic breakthroughs, the Prime Minister asked Marubeni to propose policy mechanisms and support Vietnam in training human resources, transferring technology, and management experience in the above fields.

Along with that, Prime Minister Pham Minh Chinh suggested that Marubeni Corporation strongly implement trade promotion activities, connect businesses, boost exports of industrial, agricultural and aquatic products in which Vietnam has strengths; support supply chain linkages between Vietnam and Japan to participate in the global value chain; continue to closely coordinate with Vietnamese partners to promote cooperation in the fields of: Energy industry such as wind power, solar power, biomass power; help Vietnam convert to green, clean and sustainable energy, reduce greenhouse gas emissions...; contribute to promoting Vietnam - Japan relations to become more and more substantive and effective, in the spirit of "affection, sincerity, trust".

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