pm encourages high-quality japanese investment in vietnam picture 1
Prime Minister Pham Minh Chinh meets leading businesses of Gunma prefecture on December 15 during his working trip to Japan.

Chinh, who is in Japan for a commemorative summit marking half a century of the friendship and cooperation between ASEAN and Japan, said he was happy to learn that cooperation between Gunma and Vietnamese ministries, agencies and localities has yielded impressive gains in various fields such as investment, human resource training, people-to-people exchanges.

There are currently 45 businesses of Gunma investing in Vietnam in fields such as plastics and transportation components manufacturing, and more and more local firms are keen to expand their investment in the Southeast Asian country. In addition, about 12,000 Vietnamese people are living in Gunma, constituting the largest foreign community there.

The Prime Minister said that the Vietnamese Government attaches great importance to strengthening cooperation between localities of the two countries, considering this a practical and effective cooperation channel to enhance investment, trade, labour and people-to-people exchanges.

He recalled the recent upgrade of Vietnam – Japan relationship to a comprehensive strategic partnership during the Japan visit in November 2023 by President Vo Van Thuong, which he said would open up numerous opportunities for the two countries to expand cooperation.

Japan is currently Vietnam’s leading economic partner, the largest partner in ODA, second largest partner in labour, third largest partner in investment and tourism, and fourth largest partner in trade. Latest statistics show two-way trade turnover between the two countries reached more than US$40 billion in the January – November 2023 period. Japan has so far poured over US$71.5 billion into more than 5,200 Vietnamese projects undertaken in most localities across the country.

Chinh said such encouraging results have yet to match the potential for development cooperation between Vietnam and Japan, as well as between Vietnamese localities and Gunma, especially following the recent lifting of bilateral relationship.

He expected that businesses of Gunma prefecture, with their experience, strengths and reputation, would continue to expand investment cooperation with Vietnamese businesses in areas where the two sides have many strengths and potential.

Vietnam prioritizes attracting investment into industries and fields such as green economy, digital economy, circular economy, knowledge economy, science-technology, innovation, electronic components, electric vehicles, semiconductor manufacturing, new energy (hydrogen), renewable energy, green finance, biotechnology, health, and high-tech agriculture, he said.

He assured that the Government of Vietnam supports and creates favourable conditions for foreign businesses, including Japanese businesses, to invest and do business effectively and efficiently in Vietnam.

The same day, the Vietnamese PM met with Ichita Yamamoto, governor of Gunma prefecture, and witnessed the signing of a cooperation document between Gunma prefecture and Ha Nam province of Vietnam.

PM pays working trip to Japan’s Gunma prefecture

Prime Minister Pham Minh Chinh paid a working trip to the Japanese prefecture of Gunma on December 15, immediately after arriving in Japan to attend the Commemorative Summit for the 50th Year of ASEAN-Japan Friendship and Cooperation and bilateral activities there.

Receiving Governor of Gunma prefecture Yamamoto Ichita, PM Chinh spoke highly of more than 500 activities held to mark the 50th anniversary of bilateral diplomatic ties this year.

He affirmed that the Vietnamese Government always considers locality-to-locality cooperation an effective channel to promote friendship and cooperation, and strengthen bond between the two countries’ people.

Hailing the Governor and Gunma authorities for their determination, efforts, and initiatives to boost ties with Vietnam and Vietnamese partner localities, he suggested the Governor send a business delegation to Vietnam and Gunma Day in the northern province of Ha Nam next year.

He also suggested leaders of Gunma enhance cooperation with Ha Nam and other Vietnamese localities, with their leaders visiting Gunma on this occasion, such as Thai Binh, Hai Duong, Hung Yen, Bac Giang, Khanh Hoa, and Can Tho, toward optimising the untapped potential through people-to-people exchanges and tourism cooperation activities.

Governor Yamamoto, for his part, said more and more local firms are interested in exploring the Vietnamese market.

Reporting to the PM that Gunma is home to the largest number of Vietnamese people nationwide, he lauded the positive contributions of over 12,000 people to local socio-economic development.

He committed all possible support to cultural and people-to-people exchanges to raise mutual understanding, welcome more Vietnamese workers, including trainees, and support their integration into the host society.

Describing Vietnam as an attractive and developing market, he vowed to arrange more business delegations to Vietnam, and boost bilateral investment and trade cooperation. He wished that the Vietnamese Government would create conditions for enterprises in Gunma to do business in Vietnam and encourage more Vietnamese firms to invest in Gunma.

On the occasion, PM Chinh witnessed the signing of a memorandum of understanding on cooperation between Ha Nam and Gunma.

During his later talks with Governor Yamamoto and outstanding Gunma businesses, he affirmed that Vietnam encourages Japanese enterprises and those from Gunma in particular to expand their operations in Vietnam, thus facilitating technology transfer, use of Vietnamese materials and workers.

According to him, Vietnam is carrying out three strategic breakthroughs, including institutional building, infrastructure development and high-quality workforce training.
Vietnam is creating the best possible conditions for businesses from Gunma and Japan, hoping that they will continue expanding operations in fields of their strengths, such as green economy, digital economy, circular economy, knowledge-based economy, sci-tech, innovation, electronic components, electric vehicles, semiconductor, hydrogen, renewable energy, green finance, biotechnology, health care and high-tech agriculture, among others, he said.

With high determination and great efforts from both sides and on the back of the comprehensive strategic partnership for peace and prosperity in Asia and the world, the Vietnamese leader believed that bilateral economic, investment and trade ties between Vietnam and Japan, and between Vietnam and Gunma will continue to thrive. The authorities and businesses of Gunma will be important factors contributing to further deepening friendship between the two countries.

He wished that both sides would strive even harder, with greater determination, to collaborate and prosper for the benefit, well-being and happiness of their people.

Participating Gunma firms, meanwhile, said they are keen to invest and expand operations in Vietnam, especially in manufacturing equipment and components, food, chemicals, sci-tech, finance, tourism, entertainment, distribution and retail.

In the afternoon the same day, PM Chinh visited Vietnamese workers at Shibata Gousei Co. Ltd., which operates in plastic molding and manufacturing for automotive interior parts.

Vietnamese PM calls at Shibata Gousei Company in Japan

Vietnamese Prime Minister Pham Minh Chinh on December 15 visited Shibata Gousei Co. Ltd., in Gunma prefecture, upon his arrival in Japan on the same day for an ASEAN-Japan commemorative summit.

Shibata Gousei is one of the typical firms of Gunma that is actively implementing digital transformation, applying digital technology in operation and production, and realizing fully automated production lines using machines. The firm has introduced solutions to produce environmentally friendly and low-carbon products. It employs approximately 400 local and foreign workers, including 30 Vietnamese nationals.

Talking to leaders of Shibata Gousei, Chinh highly appreciated the firm’s green production solutions, saying this is a mandatory requirement in the face of the profound impact of climate change globally. He recalled that at the recent 28th UN Climate Change Conference (COP28) in Dubai, he met with Japanese Prime Minister Fumio Kishida and the two leaders vowed to work towards realizing the net zero emissions commitments by 2050.

He said he was happy to learn that there are many Vietnamese engineers and employees working hard at the company, holding many key positions in manufacturing automation equipment there. He thanked the firm’s leadership for supporting Vietnamese employees and asked them to consider recruiting more Vietnamese workers to help them hone in new skills and learn about Japan’s advanced technology.

The Prime Minister wished the firm further success, and asked it to invest in Vietnam, contributing to promoting the comprehensive strategic partnership between Vietnam and Japan.

Prime Minister Pham Minh Chinh arrived at Haneda International Airport in Tokyo on December 15 to attend a commemorative summit marking half a century of the friendship and cooperation between ASEAN and Japan at the invitation of Japanese Prime Minister Fumio Kishida. During his stay from December 15 to 18, he will engage in a number of bilateral activities in Japan.

Source: VOV