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Vietnam Today

Japanese entrepreneurs appreciate Vietnam's development potential

Released at: 15:48, 05/06/2017

Japanese entrepreneurs appreciate Vietnam's development potential

PM Nguyen Xuan Phuc (fourth from left) meets with representatives of major Japanese enterprises in Tokyo on June 5 (Photo: VNA)

Now is a good time for Japanese enterprises to invest in Vietnam as the two countries have reached high-level agreements on boosting cooperation, PM tells Japanese entrepreneurs.

by Nguyen Quoc

Prime Minister Nguyen Xuan Phuc met representatives from many major Japanese enterprises in Tokyo on June 5 as part of his official visit to Japan, the Vietnam News Agency reports.

The Japanese business representatives appreciated Vietnam’s development potential in various spheres, noting with satisfaction the thriving extensive strategic partnership between the two countries.

An executive from J-Power introduced the group’s strengths and capacity with modern and environmentally-friendly technologies, and said they want to continue investing in coal-powered electricity in Vietnam.

Leaders from Capital Partners Securities and Daiwa Securities noted they have carried out a number of projects in securities and finance along with cultural exchanges in Vietnam. They hoped the meeting would create favorable prerequisites for their investment and cooperation activities with the country in the time ahead.

The Japanese entrepreneurs also voiced their hope that Prime Minister Phuc will continue facilitating their production and business activities in Vietnam.

At the meeting, Minister of Industry and Trade Tran Tuan Anh applauded J-Power’s intention to expand its investment in energy, adding that coal power is important to Vietnam at present since other energy sources are nearing their limit while renewable energy is only in the initial stages of development in the country.

He noted the Vietnamese Government’s special attention to environmental protection in the development of coal power. 

Speaking at the working session, Prime Minister Phuc said now is a good time for Japanese enterprises to invest in Vietnam as the two countries have reached high-level agreements on boosting cooperation. 

He described Japan as the top provider of official development assistance, the third-largest source of tourist arrivals, and the fourth-largest trade partner of Vietnam, and that bilateral cooperative potential remains huge. 

Vietnam is striving for rapid and sustainable development, so demand for energy and finance for economic growth is extremely high, he said, adding that the government is pursuing the goal of a transparent and constructive cabinet that best serves investors. 

He affirmed to the Japanese business circle that Vietnam considers the private sector and foreign direct investment important resources for the country’s development. 

He asked Japanese firms to work closely with the Ministries of Planning and Investment and Industry and Trade to accelerate projects in Vietnam, particularly those regarding infrastructure and energy for production and consumption. 

Urging Japanese investors to engage in the equitization of State-owned enterprises, the Prime Minister said the government is carrying out a policy to reduce State control and withdraw capital from many fields, including energy and banking and finance, which opens up many opportunities for Japanese investors. 

He also expressed a hope of promoting cultural cooperation between the two countries. 

Later, he hosted receptions for Yuji Nakamine, Member of the Board of Directors and General Director for Asia, Europe, Pacific, the Middle East and Africa of Mazda, and the President and CEO of Route Inn, Katsutoshi Nagayama.

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