A cooperation agreement was signed between leaders of Toyama Prefecture and Ministry of Planning and Investment on December 20 in Ha Noi. — Photo mpi.gov.vn
The Toyama Prefecture in particular and Japan in general held Viet Nam’s economic development in high regard and would expect further economic collaboration between the two nations, said governor of Toyama Takakazu Ishii yesterday, at a conference in Ha Noi.
At the conference, Vu Tien Loc, Chairman of the Viet Nam Chamber of Commerce and Industry (VCCI) greatly valued the Toyama authority and businesses for their interest in investment in Viet Nam. Foreign investors placed significant trust in the country and the Vietnamese Government as well as the VCCI and other governmental agencies had committed to better the business and investment environment to facilitate foreign investors.
In recent years, besides many preferential policies and mechanisms to encourage foreign businesses to invest in Viet Nam, the country had been maintaining its position as the most stable nation in South East Asia, in terms of both politics and socio-economic development.
According to Ishii, about 40 businesses from Toyama have invested and operated in Viet Nam and the number would likely increase in the future.
He also mentioned the impressive Vietnamese economic indicators in 2016 as well as the country’s growth rate goal of 6.7 per cent in 2017. This showed the Vietnamese government’s determination for future economic development.
The conference was held by the VCCI in collaboration with the Toyama Prefecture on the occasion of the prefecture delegates’ visit to Viet Nam along with representatives of 17 Japanese businesses.
Viet Nam and Japan would have many opportunities to further increase economic collaboration in the future. Positive development in regional economic integration such as the Regional Comprehensive Economic Partnership (RCEP) would continue to afford the two countries more potential for co-operation.
Japanese businesses should continue to invest in Viet Nam, specifically in industrial sectors to facilitate the country’s industrialisation, enhance infrastructure through official development assistance and boost technological transfer, while helping Viet Nam with human capital development.
Viet Nam would continue to support Japanese investors through better legal framework and creating a stable and transparent business environment.
As of 2016, the Vietnam-Japan Joint Initiative phase VI had commenced, focussing on the improvement of the Vietnamese business and investment scene, through clearer legal procedures and governmental policies. Toyama is a prefecture of Japan located in the Hokuriku region on the main Honshu island, with an abundant supply of hydroelectricity and developed coastal industries. The region is also famous for mechanical products, aluminium, steel, electric generators, molding accessories, pharmaceuticals and electronics, as well as processors of industrial waste. — VNS