On August 12, at the Government Office, Prime Minister Pham Minh Chinh chaired a dialogue with major Japanese corporations and enterprises, joined by Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung, central ministry leaders, Japanese Ambassador to Vietnam Ito Naoki, and representatives from business associations.

Japan remains one of Vietnam’s most important partners - its largest ODA donor, second in labor cooperation, third in investment and tourism, and fourth in trade. Since establishing diplomatic relations in 1973, the two countries’ “Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World” has expanded robustly across multiple sectors.

As of July 31, 2025, Japan had 5,608 valid projects in Vietnam with total registered capital of USD 79.4 billion, ranking third after South Korea and Singapore. In the first seven months of 2025, Japan’s registered capital reached USD 2.3 billion, up 7.4% year-on-year, with 158 new projects - fourth among 97 investing countries. Major projects include the USD 9 billion Nghi Son Refinery and Petrochemical Complex in Thanh Hoa (39.8% Japanese capital), a USD 4.1 billion smart city project in Hanoi’s Dong Anh District (Sumitomo-BRG), and the USD 2.8 billion BOT Nghi Son 2 Thermal Power Plant.

Conversely, Vietnamese investors have 126 projects in Japan with total registered capital of USD 20.5 million, primarily in science, technology, and retail. Companies such as FPT, Rikkei, and VMO have expanded their presence in Japan.

The Ministry of Finance proposed five measures to strengthen bilateral investment: expanding cooperation in industrialization, high-quality workforce training, digital transformation, and innovation; enhancing supply chain links; increasing ODA for major infrastructure; accelerating Japanese investment projects; and boosting financial cooperation, particularly in green finance and establishing regional financial centers in Ho Chi Minh City and Da Nang.

Ambassador Ito Naoki thanked the Vietnamese Government for supporting Japanese investors, noting recent agreements between Prime Minister Chinh and Prime Minister Shigeru Ishiba on key cooperation areas such as semiconductors, digital transformation, green transition, and disaster prevention. Japanese businesses are closely following Vietnam’s reforms, particularly administrative streamlining, and expect more opportunities for partnership.

The dialogue aimed to resolve existing investment issues, review progress over the past five months, and set future directions, including new Japanese investment proposals and green financing initiatives under the Asian Zero Emissions Community (AZEC) framework. Japanese firms also presented challenges they face in Vietnam, seeking Government support to facilitate further investment growth.

PV