Business

HCM City, Japan’s Kanagawa prefecture enhance collaboration

The Japan Kanagawa Festival in Ho Chi Minh City was held on November 12 to promote business connections and expand cooperation between Ho Chi Minh City and Kanagawa, and contribute to the Vietnam-Japan Comprehensive Strategic Partnership.

Leaders of HCM City and Kanagawa at the event (Photo: VNA)
Leaders of HCM City and Kanagawa at the event (Photo: VNA)

HCM City (VNA) – The Japan Kanagawa Festival in Ho Chi Minh City was held on November 12 to promote business connections and expand cooperation between Ho Chi Minh City and Kanagawa, and contribute to the Vietnam-Japan Comprehensive Strategic Partnership.

Nguyen Van Dung, Vice Chairman of the People's Committee of Ho Chi Minh City, emphasised that Ho Chi Minh City and Kanagawa share a special friendly connection, which began in 2013 through the cooperation between Ho Chi Minh City and Yokohama, the capital City of Kanagawa. Since then, the two sides have maintained close ties through various exchange activities and cooperation in many important areas.

Ho Chi Minh City is entering a new phase of development that is more dynamic and creative, particularly following its merger with Binh Duong and Ba Ria-Vung Tau provinces. The city is currently working on a comprehensive urban development plan with a strategic vision of "Three Regions - One Special Zone - Three Corridors - Five Pillars." This vision identifies Japan and advanced prefectures like Kanagawa as key partners in the city's effort to renew its growth model. The goal is to transform Ho Chi Minh City into a leading green, creative, and livable city in Asia.

Dung expressed his hope that the festival will spark a practical and sustainable collaboration initiative, with Kanagawa businesses investing in Ho Chi Minh City and local firms expanding into the Japanese prefecture.

These initiatives will promote trade, technology transfer, workforce development, and innovation, thus strengthening the Vietnam-Japan Comprehensive Strategic Partnership, he added.

Okabe Mitsutoshi Yuji, Chief Representative of the Japan External Trade Organisation (JETRO) office in Ho Chi Minh City, stated that Vietnam is a primary focus for Japanese investment, ranking first in ASEAN in terms of future investment potential. He also emphasised the increasing trend of Vietnamese companies expanding into Japan, particularly in key sectors such as Information Technology.

Introducing Kanagawa’s investment potential and opportunities, the prefecture’s Governor Kuroiwa Yuji said that it leads in robotics, satellite technology, and is known as a hub for innovation in Japan. The prefecture provides appealing investment incentives, including support for up to 12% of project costs, a 50% reduction in property tax, and assistance with office rentals.

Kanagawa has maintained a strong partnership with Vietnam through the Vietnam Festival in Kanagawa and various cultural and workforce exchange programmes. To date, more than 20 Vietnamese businesses have invested in the prefecture./.

VNA
#Japan Kanagawa Festival in Ho Chi Minh City #Vietnam-Japan relations #Japan Japan
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