Ministry of Planning and Investment Portal

At the meeting. Photo: MPI

The Vietnam - Japan Joint Initiative launched in April 2003 is a special collaboration of the two Governments. Serving as a policy dialogue forum between Japanese investors and relevant Vietnamese ministries and agencies, it contributes to creating an open and transparent business and investment environment in Vietnam, and providing constructive policy recommendations as reference information to complete laws and policies for Vietnamese authorities.

Over the past 20 years, many legal documents have been amended and issued, and many policy recommendations of the Japanese side taken into consideration by Vietnamese ministries and agencies, and report to competent authorities for law and policy finalisation and enforcement.

Japan also developed a report proposing policies to promote development of small and medium sized enterprises - the key pillars in Vietnam’s supporting industries.

Do Nhat Hoang, head of MPI’s FIA said, the Vietnam-Japan Joint Initiative has significantly contributed to improving the business environment and raising Vietnam’s competitiveness in foreign direct investment (FDI) attraction.

Vietnam was named among the 20 top countries in the world in terms of FDI attraction, which sees outstanding contributions by Japanese businesses through the initiative.

Japan has invested nearly 5,000 projects in Vietnam with a total registered capital of about 70 billion USD.

According to the latest survey by the Japan External Trade Organisation (JETRO), 60% of Japanese enterprises plans to expand operations in Vietnam.

The FIA Director said, Vietnamese agencies stand ready to coordinate with the Japan Chamber of Commerce and Industry (JCCI), the Japanese Embassy in Vietnam and relevant agencies to successfully carry out the joint initiative, creating basis for discussions on cooperation between two nations in the time ahead./.