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Conference name: “New Japan-Vietnam Joint Initiative Kick-off Meeting
Date: March 27, 2024
Place: Main Hall in the Ministry of Planning and Investment, Vietnam
Main Participants
Minister of Planning and Investment Nguyen Chi Dung, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc, then Sojitz Corporation President Masayoshi Fujimoto, then Sumitomo Corporation President and CEO Masayuki Hyodo, Ambassador Extraordinary and Plenipotentiary to Vietnam Takao Yamada
Background and Objectives
Established in 2003 as an opportunity for policy dialogue between representatives of the public and private sectors of Japan and Vietnam to discuss issues in Vietnam, the Japan-Vietnam Joint Initiative has contributed to the promotion of Japanese investment in Vietnam. Now, on the occasion of its 20th anniversary, the “New Japan-Vietnam Joint Initiative” has been launched with the aim of boosting overall foreign direct investment (FDI) in Vietnam, not only by Japanese companies.
Contents
At the beginning of the meeting, Minister of Planning and Investment Dung praised the joint Japan-Vietnam initiative, saying that “it has played a very significant role in improving the investment environment and formulating policies in Vietnam within the framework of an efficient policy dialogue. He then emphasized that “we will work with other ministries and agencies to create a win-win relationship with Japanese companies in the region.
Mr. Fujimoto, Chairman of the Keidanren Japan-Vietnam Economic Committee (President of Sojitz Corporation), referred to the importance of high value-added industries in Vietnam, explaining that high quality investment and excellent human resource development are key elements. He also expressed hope for cooperation in the “Asian Zero Emission Community (AZEC)” led by Japan.
Ambassador Yamada pointed out that “Japan-Vietnam relations are said to be the best in the past, but they still have a lot of potential,” and then introduced specific activities in the following five working teams.
Increased investment related to AZEC/GX
Innovation/DX Promotion
Strengthening the supply chain, including fostering supporting industries
Developing Highly Skilled Human Resources
Institutional improvements to improve the investment environment
The Vietnamese side commented that they expect further promotion of investment by Japanese companies, as well as the development of human resources for semiconductor development, which is in high demand worldwide, and the Japanese side responded that they will reflect these expectations in the activities of each working team.
In his special lecture, JICA Vice President Yamada introduced the achievements of Japanese ODA in Vietnam’s economic development in the context of the 50th anniversary of the establishment of diplomatic relations between Japan and Vietnam, which was celebrated last year. He emphasized the importance of Japan and Vietnam complementing each other and contributing to the common goal of regional development and stability, focusing on the three priority areas of “promoting quality growth,” “building a resilient society,” and “building people for the future. JICA will continue its cooperation with Vietnam in the future.
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