Prime Minister welcomes Japanese firms’ investment in Viet Nam

Tuesday, Sep 08, 2020 11:02

Prime Minister Nguyen Xuan Phuc at the dialogue with Japanese economic groups and businesses in Ha Noi on Monday. — VNA/VNS Photo

The Vietnamese Government appreciates the role of the Japanese businesses for their responsible and efficient investment in Viet Nam, contributing to the State budget, environmental protection and care for workers, Prime Minister Nguyen Xuan Phuc has said.

The PM was speaking at a dialogue with Japanese economic groups, including the Japan Chamber of Commerce and Industry, Japan International Cooperation Agency, Japan External Trade Organisation and businesses interested in expanding investment in Viet Nam in Ha Noi on Monday.

Phuc said he highly valued the contribution of the Japanese Government and Prime Minister Shinzo Abe to the partnership development between the two countries.

“Viet Nam - Japan relations have gained many achievements, and the trust between the two countries has been deepening," he said.

Phuc also appreciated the Government of Japan's support for overseas supply chain diversification and expressed his pleasure to know among the 30 Japanese enterprises that received the government’s first support, there are 15 firms that wish to expand their investment in Viet Nam.

“This will provide a source of encouragement for the nation to continue improving its business environment and create favourable conditions for firms to do successful business, including those from Japan,” he said.

PM Phuc said the Vietnamese National Assembly had adopted the Law on Investment, the amended Law on Enterprises, and the Law on Public-Private Partnership with incentives and transparency.

“Besides implementing commitments of free trade agreements such as the CPTPP and EVFTA, Viet Nam will become an attractive investment destination with a business environment conforming to advanced international standards,” he added.

The Prime Minister stressed that with a population of nearly 100 million and being part of the dynamic 650 million-strong bloc of ASEAN, Viet Nam is big enough for business plans and suitable for restructuring and the shift of regional and global supply chains by foreign investors, especially those from Japan.

The Government leader said a working group in charge of promoting foreign investment co-operation led by a deputy prime minister had been established in order to grab opportunities and deal with major investors’ suggestions.

He also called for the resumption commercial flights to several safe destinations, including Japan.

Viet Nam always welcomes Japanese firms to expand investment in infrastructure, energy, manufacturing, high-quality agriculture, information technology, smart urban development, financial and banking services and innovation-based start-ups, as well as in joining the equitisation of State-owned enterprises as strategic partners, according to the Prime Minister.

The Vietnamese Government, leaders of ministries, agencies and localities will work with the business community and offer all possible support to business operations to lift Viet Nam-Japan ties to a greater height.

Japanese Ambassador to Vietnam Yamada Takio said over the past two decades, the Vietnamese economy had grown rapidly and ties between Viet Nam and Japan had become deeper.

He added that while countries were battling the COVID-19 pandemic, Viet Nam had quickly recovered and directly benefited from diversified supply chains in the world.

Takio said several Japanese firms were considering a shift of production facilities to Viet Nam. He hoped that Viet Nam would catch this opportunity.

The ambassador also expressed his support for the resumption of flights between the two nations, thus improving disbursement for public projects at present, attracting more foreign investors to Viet Nam, and improving Viet Nam’s credit ranking.

He said Japan would continue assisting firms in investing in Viet Nam as well as helping the Southeast Asian nation develop its economy.

At the dialogue, Japanese firms mentioned problems in investment co-operation in Viet Nam such as human resources, support industry and research and development, among others.

Responding to the concerns of Japanese enterprises, PM Phuc said he would ask ministries, agencies and localities to quickly remove problems, affirming that Viet Nam would create conditions for the Japanese businesses’ expansion of investment in the country. — VNS

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