Deputy PM lures Japanese investors in infrastructure

Tokyo (VNA) – The Vietnamese government will make efforts to complete a legal framework and policies to create a transparent, open and stable investment and business environment for foreign investors, including Japanese businesses, to succeed.

Deputy Prime Minister Trinh Dinh Dung made the pledge on May 31 while meeting Japanese government officials and executives of business associations, seeking to reel in more capital into infrastructure, which is defined as one of the three strategic breakthroughs to drive Vietnam’s economy.

Meeting Minister of Land, Infrastructure, Transport and Tourism (MLIT) Ishii Keiichi, the Deputy PM asked for Japan’s help to build and complete large-scale and major infrastructure projects as agreed, including the North-South Expressway, and the urban railway projects in Hanoi and HCM City.

Dung and Keiichi agreed that the two sides need to promote agreements on training and developing human resources for the construction sector, and ecological urban projects, as well as boost cooperation between localities, people-to-people exchanges and tourism cooperation.

In his meeting with Kyohei Takahashi, President of the Vietnam-Japan Economic Committee of the Japan Business Federation Keidanren, Dung appreciated Keidanren’s role as the largest social-economic organisation in Japan and its contributions as a policy adviser to the Vietnamese government via the Vietnam-Japan Joint Initiative (VJJI) and the policy dialogue with the Vietnamese Ministry of Planning and Investment.

The Deputy PM recommended Keidanren encourage its enterprises to invest in and transfer technology to six industries identified in Vietnam’s industrialisation strategy as well as help Vietnam implement the action plan in each industry.

He also recommended the VJEC, within its role, assists Japan’s small- and medium-sized enterprises to invest in Vietnam’s supporting industry and participate in infrastructure projects in the form of Public-Private Partnership encouraged by the two governments.

The Deputy PM also met with the executives of the Heavy Industry Mitsubishi Corporation, the Sojitz Corporation, and the Taisei Corporation, calling on them to pay more interests in infrastructure development in Vietnam.

Since the two countries announced the Joint Vision on the Vietnam-Japan relationship in September, 2015, the Vietnam-Japan Extensive Strategic Partnership has developed strongly and comprehensively in many fields, particularly in economics, agriculture and cooperation between localities.

Japan continues being the leading economic partner and is the largest official development assistance provider, the second largest investor and the fourth largest trade partner of Vietnam.

The Deputy PM said that the cooperation potential between the two countries is huge, given that they are implementing action plans across six industries in the Vietnam Industrialisation Strategy, within the Vietnam-Japan Cooperation Framework, as well as contributing to progress in regional economic connections, such as the formation of the ASEAN Community.

That the two countries are members of the Trans-Pacific Partnership and are taking part in the negotiation talks of the Regional Comprehensive Economic Partnership will bring many new opportunities in the economic cooperation between the two countries, he said.

The meetings took place within the framework of the Deputy PM’s working visit to Japan to attend the 22th Asian Future Conference.-VNA