Vietnam wants Japan to become its biggest investor, Prime Minister Nguyen Xuan Phuc said at the two countries’ business talk in Hanoi on January 17, as part of an official visit to Vietnam by Japanese PM Shinzo Abe.

Addressing the event, co-chaired by the two PMs, Phuc said Vietnam attracted 2 billion USD of Japanese investment in 2016, adding up to 42 billion USD of Japan’s total investment here, ranking second among 142 countries and territories pouring FDI into the Southeast Asian nation.

Japan is also the biggest ODA provider, the third largest source of foreign tourists to and the fourth leading trading partner of Vietnam, he added.

Appreciating the role of the two business circles, he said they have made precious contributions to the sustainable and long-term development of bilateral strategic partnership.

The host attributed that outcome to an open economy, intensive integration and a good legal system in Vietnam which have created favourable conditions for foreign enterprises. Additionally, his country also boasts a stable macro-economy and political and social situation.

The Government is determined to improve the business climate and aims to be among the top ASEAN countries in terms of the investment environment, he said.

PM Phuc said Vietnam wants Japanese firms to invest in such spheres as green growth, development cooperation projects, infrastructure, public-private partnership projects, and high-quality services, especially finance, banking and tourism.

They should also invest in high-quality agriculture and manufacturing, take part in the equitisation of Vietnam’s State-owned enterprises, and support local start-ups, he added.

Repeating the outcomes of the talks on January 16, Abe emphasised that both sides agreed to expand trade and investment relations and better the business climate.

ASEAN is now a growth hub of the world, and Vietnam is part of that hub, he said, noting that more than 1,600 Japanese companies are operating in this country. He highly valued Japanese firms’ contributions to Vietnam’s development through investment, job creation and technology transfer.

He asked PM Phuc and the Government of Vietnam to continue supporting his country’s businesses, saying that Japanese companies always hope to help with local economic development through transferring technology and training manpower.

The Government and businesses of Japan will push ahead with close cooperation with Vietnam, Abe stressed.

VNA