Prime Minister Pham Minh Chinh attends the Vietnam

Sun Group Corporation awarded cooperation minutes with 2 Japanese partners on investment in Van Phong Economic Zone

During the program of attending the Summit to celebrate the 50th anniversary of ASEAN-Japan relations and conducting bilateral activities in Japan, on the morning of December 16, in Tokyo, Prime Minister Pham Minh Chinh attended the Vietnam-Japan Economic Forum with the theme "Economic relations in the new era - Comprehensive strategic partnership for peace and prosperity in Asia and the world". Also attending this event were Chairman of Khanh Hoa Provincial People's Committee Nguyen Tan Tuan and leaders of central ministries, branches and provinces and cities nationwide.

Prime Minister Pham Minh Chinh attends the Vietnam - Japan Economic Forum, photo: Nhat Bac

The forum was organized by the Ministry of Planning and Investment and the Embassy of Vietnam in Japan in coordination with the Japan External Trade Organization (JETRO). This is an important event, taking place on the occasion of the 50th anniversary of the establishment of diplomatic relations between Vietnam and Japan and especially less than 1 month after the two countries officially upgraded their relationship to "Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World" during the recent visit to Japan by President Vo Van Thuong.

Speaking at the forum, in front of 600 delegates, Prime Minister Pham Minh Chinh assessed that after 50 years of nurturing and building, the friendship and cooperation between Vietnam and Japan, and the political trust between the two countries are at a very high level. Japan is currently Vietnam's leading economic partner, ranking 2nd in labor cooperation, 3rd in investment and tourism cooperation, and 4th in trade cooperation. The two economies are complementary and complementary to each other for mutual development. Japanese investors are present in most localities of Vietnam, participating in many strategic projects in a number of key areas, with over 5,200 projects and more than 71.5 billion USD in registered capital. Bilateral trade turnover reached more than 40 billion USD in the first 11 months of 2023, of which Vietnam's imports from Japan reached nearly 20 billion USD. Japan is the partner that has signed the most bilateral and multilateral FTAs with Vietnam, creating an important foundation to promote trade and investment relations between the two countries in the spirit of mutual benefit and mutual support. In particular, there are over 500,000 Vietnamese people living, studying and working in Japan and 22,000 Japanese people working, living and studying in Vietnam.

Prime Minister Pham Minh Chinh speaks at the Vietnam - Japan Economic Forum

The Prime Minister said that after nearly four decades of innovation, openness and integration, Vietnam has achieved important achievements of historical significance. The economic scale reached 409 billion USD; per capita income over 4,100 USD (2022). Among the 40 largest economies in the world, ranked 32nd in the top 100 strongest national brand values in the world; top 20 countries leading in trade turnover (reaching 732.5 billion USD in 2022); signed 16 new-generation free trade agreements with over 60 countries and territories, including the largest markets in the world and increasingly diversifying markets, products, and supply chains. Vietnam has established comprehensive strategic partnerships with five permanent members of the United Nations Security Council... Currently, Vietnam aims to develop its strategy to become a developing country with an upper middle income by 2030 and a developed country with a high income by 2045. In the coming time, Vietnam will continue to restructure its economy towards rapid and sustainable development; focusing on developing emerging fields and world trends such as innovation, digital transformation, green economy, circular economy, sharing economy...

The Prime Minister emphasized that the upgrading of Vietnam and Japan to a Comprehensive Strategic Partnership is an important political foundation to continue expanding cooperation in new areas where both sides have strengths. Vietnam needs Japan, including businesses, to continue to cooperate and support in industrialization and modernization of the country; financial support with preferential interest rates; support in the transfer of advanced technology and modern management; and suggestions for building and perfecting institutions, mechanisms and policies. The Prime Minister also asked Japan to support training high-quality human resources and Vietnam will provide human resources for partners. Along with that, cooperation between localities should be promoted; people-to-people exchange and cultural cooperation should be promoted. The Prime Minister called on Japanese businesses to continue to invest and succeed in Vietnam, achieving increasingly higher results, the success of investors is also the success of Vietnam.

Prime Minister Pham Minh Chinh and Chairman of Khanh Hoa Provincial People's Committee Nguyen Tan Tuan, along with leaders of ministries and branches, witnessed Sun Group exchanging a cooperation agreement with Taisei Group and Well Consull on investment cooperation in Van Phong Economic Zone.

At the Forum, Prime Minister Pham Minh Chinh witnessed the handover ceremony of 30 agreements and cooperation documents between ministries, agencies and enterprises of Vietnam and Japan. In particular, Sun Group signed a cooperation agreement with Taisei Group to implement infrastructure and real estate projects in Van Phong Economic Zone (Khanh Hoa). At the same time, Sun Group signed a cooperation agreement with Well Consul on investing in medical and healthcare facilities in Van Phong Economic Zone...

* Also on the morning of December 16, in Tokyo, Prime Minister Pham Minh Chinh and members of the Vietnamese Government delegation attended a discussion with leading Japanese economic groups.

Speaking at the seminar, the Prime Minister said that from the beginning of 2023 to now, Vietnam has had a trade surplus of about 25 billion USD, attracted about 30 billion USD in registered FDI capital and disbursed about 20 billion USD... Vietnam also exported about 8 million tons of rice, contributing to ensuring global food security. The Prime Minister stated that Vietnam is a safe haven in the current storm in the world, in all different aspects. Vietnam will continue to ensure the fundamental factors for development, maintain a peaceful and stable environment, firmly protect independence, sovereignty, territorial integrity, political stability, social order and safety, maintain macroeconomic stability, ensure major balances so that investors can feel secure and do business; promote 3 strategic breakthroughs (institutions, infrastructure, human resources) to continue reducing time, compliance costs, input costs, logistics costs, and improve business competitiveness.

Chairman of Khanh Hoa Provincial People's Committee Nguyen Tan Tuan (left cover) attended a discussion with Japanese enterprises.

Prime Minister Pham Minh Chinh said that with the policy of cooperation, selectively attracting foreign investment, aiming at quality, efficiency, high technology and environmental protection, Vietnam prioritizes attracting investment projects in sectors and fields such as: Green economy, digital economy, circular economy, knowledge economy; science and technology, innovation, electronic components, electric cars...; potential core technologies such as semiconductor industry, new energy (such as hydrogen), renewable energy; financial centers, green finance; biotechnology, healthcare... These are areas in which Japan has experience and strengths, and Vietnam has great potential and demand. At the same time, these are also key areas in the Joint Statement on upgrading relations between the two countries.

Accordingly, the Prime Minister proposed that large Japanese corporations help Vietnam access new generation official development assistance (ODA) capital sources; green financial investment sources, investment in energy transition within the framework of the Just Energy Transition Partnership (JETP), "Asia Zero Emission Community (AZEC)"; investment resources for innovation such as the "Innovation Fund/Digital Transformation" of the Japanese Government to create momentum for sustainable socio-economic development in the coming period. Along with that, the Prime Minister suggested that Japanese investors will further strengthen cooperation in training high-quality human resources, exchanging management experiences, and developing business culture; Promote research and development activities, innovation, technology transfer, contributing to enhancing the resilience of supply chains to ensure stable production activities, focusing on transparency, diversity, sustainability and stability as stated in the Joint Statement between the two countries. At the same time, continue to contribute ideas and improve relevant institutions, mechanisms, policies and regulations. With the spirit of "harmonious benefits, shared risks", the Vietnamese Government will always accompany, listen, support and create favorable conditions for foreign investors in general and Japanese investors in particular to make successful, sustainable and long-term investments in Vietnam.

XUAN THANH (synthesis)

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