The Prime Minister highly appreciated the cooperation and valuable contributions of KEIDANREN as well as the role of the two Co-Chairs in promoting the relationship between the two countries, serving as a bridge to help Japanese enterprises invest more in Vietnam, contributing to the strong development of the bilateral cooperation in all fields, in which the very good political and diplomatic relations with high trust are an important foundation to promote economic, trade and investment cooperation.
In recent times, Japan has continued to be Vietnam's leading economic partner, the first partner in providing ODA loans (with a total ODA capital of nearly 30 billion USD to date), the second in terms of labor (there are currently more than 520,000 Vietnamese people in Japan and about 22,000 Japanese people in Vietnam), the third in terms of investment (with 5,304 valid projects with a total registered investment capital of 74.4 billion USD) and the fourth in terms of trade (with two-way trade turnover in 2023 reaching 45 billion USD).
Prime Minister Pham Minh Chinh receives a delegation from the Japan-Vietnam Economic Committee. Photo: Duong Giang/VNA
The Prime Minister also highly appreciated the Vietnam - Japan Joint Initiative which has been successfully implemented over the past 20 years and welcomed its implementation in the new era focusing on five groups of issues: Promoting the Asian Zero Emission Community/Green Transformation (AZEC/GX); innovation, promoting digital transformation; strengthening the supply chain including developing supporting industries; training high-quality human resources; reforming mechanisms to improve the investment environment.
The two co-chairs of the Japan-Vietnam Economic Committee said that KEIDANREN and Japanese enterprises wish to continue contributing to the relationship between the two countries, which is entering a new phase, especially in the economic field; highly appreciate the political and social stability, rapid economic growth, abundant human resources, and large consumer market in Vietnam; KEIDANREN considers Vietnam one of its most important partners.
According to a survey by JBIC (Japan Bank for International Cooperation), in the medium and long term, Vietnam is ranked second among the countries that Japanese businesses want to invest in the most.
Japanese enterprises wish to continue expanding their business in Vietnam, contributing to promoting Japan-Vietnam economic cooperation in many fields, contributing to the development of supporting industries, digital transformation, training high-quality human resources in Vietnam, building global supply chains, etc.
KEIDANREN and businesses are particularly interested in accompanying and supporting Vietnam in implementing green energy transition, promoting the implementation of projects within the framework of the Political Declaration on the Establishment of the Just Energy Transition Partnership (JETP) and the Asian Zero Emission Community (AZEC) initiative of Japan.
Prime Minister Pham Minh Chinh speaks at the reception of the Japan-Vietnam Economic Committee delegation. Photo: Duong Giang/VNA
The Prime Minister suggested that in the spirit of trust, sincerity and efficiency, KEIDANREN and businesses continue to strengthen economic connectivity between the two countries, expand investment cooperation activities, especially in the priority areas stated in the Vietnam-Japan Joint Statement on upgrading relations to “Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World”; support Vietnam in developing strategic infrastructure, energy, supporting industries, high-quality agriculture, science and technology, green transformation, digital transformation, environment, climate change response, semiconductor industry, training high-quality human resources, promoting people-to-people exchange, cultural exchange, labor cooperation, etc.; participate in policy recommendations, administrative procedure reform, and improving the investment environment in Vietnam.
Providing information on Vietnam's fundamental factors, national development guidelines, foreign policies, defense policies, Vietnam's achievements after nearly 40 years of renovation and lessons learned, the Prime Minister affirmed that Vietnam consistently implements these guidelines and policies and always attaches importance to relations with Japan as well as the activities of Japanese investors in Vietnam.
Prime Minister Pham Minh Chinh with members of the Japan-Vietnam Economic Committee delegation. Photo: Duong Giang/VNA
The Vietnamese Government continues to accompany, always listen to opinions, understand and share with investors and the business community in the spirit of harmonious benefits, shared risks, working together, winning together, enjoying together, and developing together. Vietnam will continue to promote 3 strategic breakthroughs (institutions, infrastructure, human resources) to create a fair, open, equal and transparent investment and business environment, reduce compliance fees, logistics costs, and meet the human resource requirements of investors.
Along with that, continue to firmly protect independence, sovereignty, unity, territorial integrity, political stability, social order and safety, macroeconomic stability, control inflation, promote growth, ensure major balances of the economy, including ensuring the supply of electricity, gasoline, etc. so that investors can feel secure in doing business long-term.
The Prime Minister also said that Vietnam is continuing to improve procedures for implementing ODA projects and the two sides are discussing to negotiate and sign the Vietnam - Japan Social Insurance Agreement.
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