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Monday, March 30 2020
Tiếng Việt
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Date 15/06/2018-22:09:00 PM
Vietnam commits to creating an open, favorable and equitable business and investment environment for Japanese investors
(MPI)- Under the framework of the State-level visit in Japan, on May 31st, 2018, President Tran Dai Quang attended and spoke at the Vietnam Investment Promotion Conference in Japan with the theme of Heading Towards a New Era of Vietnam- Japanese Friendship.
President Tran Dai Quang, Deputy Prime Minister Pham Binh Minh, Minister of Planning and Investment Nguyen Chi Dung took photos with delegates attending the conference: MPI

The Conference is an opportunity for the business community of the two countries to look back on their results in investment cooperation, to share visions, outlook, and chances for further development cooperation in the new period, to contribute to boosting and deepening the Strategic Partnership for Peace and Prosperity in Asia. The Conference was organized by the Ministry of Planning and Investment and the Japanese External Trade Organization (JETRO).

Speaking at the meeting, President Tran Dai Quang mentioned that the close relationship between Vietnam and Japan is an essential foundation for a flourishing and prosperous development of the two countries, to positively contribute to maintaining peace, stability, cooperation and sustainable development in the region and the world. At the same time, he affirmed Vietnam's commitment to creating an open, favorable and equitable business and investment environment for Japanese investors and satisfying the integration demands and international regulations in the new era.

President Tran Dai Quang emphasized the open business environment and the trust in investment success the Vietnamese government would provide to the Japanese investors.

President Tran Dai Quang said, heading towards the goal of building the modern industrial nation, Vietnam is having a great need of developing modern and synchronous infrastructure and energy systems, advanced education system, etc. These are Japan’s strong fields and valuable opportunities for Japanese enterprises to expand cooperation, investment in Vietnam, especially in the fields of manufacturing, modern agriculture, energy, information technology, smart city, services, infrastructure, finance, banking, innovation-based start-up as well as joining as strategic partner for equitization of SOE, etc.

Vietnam's consistent policy always appreciates the cooperation relationship with Japan, on the basis of sharing strategic geopolitical and economic interests – a trusting friendship which was built in the last 45 years. Vietnam hopes to boost the economic, trade, investment relationship between the two countries, and always sees the Japanese enterprises, entrepreneurs community as the top strategic partners in the process of restructuring the economy, renovating, initiating, developing the knowledge economy, enhancing the quality of growth and national competitiveness.

President Tran Dai Quang expressed his delight with the achievements Japan gained in the last time and deep gratefulness for the practical and effective cooperation, supports, assistance that Japan gave to Vietnam during the construction, protection, and development of the country for almost half a century.

Japan is the largest official development assistance partner of Vietnam with more than 30 billion USD committed, played an important role in the development of infrastructure, high-quality labor, enhancement of the national governance capacity, eradication of hunger and alleviation of poverty, etc. The constructions and projects, built from Japanese ODA capital, were implemented and operated effectively all over Vietnam, some iconic constructions, projects are Noi Bai International airport Terminal 2, Lach Huyen International Gateway Port, Ho Chi Minh City – Trung Luong Expressway, etc.

Regarding investment, Japan has always been the top partner of Vietnam with more than 3,700 projects with the total registered investment capital of more than 50 billion USD. In 2017 separately, the total investment capital of Japan in Vietnam hit the record with nearly 10 billion USD. That brought Japan back to the position of being the largest investment partner of Vietnam. The Japanese business community, including top enterprises of Japan, did not only pioneer in investment cooperation but also boost the cooperation relations between the two countries in the fields to be more effective, useful. President Tran Dai Quang highly appreciated the discipline, responsibilities, modern technology, advanced management, business culture of Japanese enterprises and entrepreneurs in the process of investing and doing business in Vietnam.

In terms of commerce cooperation, the bilateral relations is always growing stable, healthily and balanced, with a two-way trade turnover of 33 billion USD in 2017. Vietnam and Japan are important trading partners of each other with highly complementary, supplementary goods.

Regarding people to people exchange, culture exchange continues to take strong development steps. In 2017, there were more than 300 thousand arrivals from Vietnam to Japan and nearly 800 thousand arrivals from Japan to Vietnam.

In more than 30 past years, Vietnam has always consistently performed the innovative policy, the international integration, foreign investment absorption, maintenance of the high economic growth rate, macroeconomic stabilization and it has reached great achievements with historic significance regarding socio-economic development. Vietnam has become an active economy with the estimated GDP of 230 billion USD and the commercial scale of over 420 billion USD. With a population of nearly 100 million people, Vietnam is a rapidly growing purchasing power market with a fast developing middle class. It is also an open economy and continuing to actively boost the international integrations with the signed free trade agreements.

As of now, Vietnam had attracted nearly 322 billion USD form 126 countries and territories to invest in crucial fields such as manufacturing industries, infrastructure development, construction, real estate, energy, tourism, distribution, etc. Various world-leading enterprises are investing, doing business effectively and has become a crucial part, contributing to Vietnam’s economic growth.

Vietnam has set out goals to maintain the average GDP growth rate of 6.5-7% per year and to reach GDP of 320-350 billion USD, GDP per capita of approximately 3,200 to 3,500 USD, the trade scale of 600 billion USD in 2020.

Under the framework of the visit, Minister of Planning and Investment Nguyen Chi Dung had joined President Tran Dai Quang to welcome Japan Business Federation ( Keidanren) and witnessed the signing ceremony between Quang Tri province with ISE FOOD INC./.

Hien Nguyen
Ministry of Planning and Investment

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