Illustrative image (Photo: VNA) Hanoi (VNA) – Japan is one of thefour largest importers of Vietnam, only behind China, the Republic of Korea andthe US, according to the latest report by the Industry Agency under theMinistry of Industry and Trade.
Over the years, Japan has assisted Vietnamin human resources training, business management and market development toincrease revenue and cut manufacturing costs.
The automobile sector and its supportingindustry have posted positive growth under Vietnam’s industrialization strategywithin the Vietnam – Japan cooperation framework.
Japanese automobiles firms recorded thehighest rate of locally-made products in their Vietnamese factories, reaching37 percent for the Innova Toyota model. Industrial zones for Japanese small andmedium-sized enterprises have been formed in several localities such as Ba Ria– Vung Tau and Ha Nam, promoting the development of the supporting industry forthe auto sector.
As part of a project to boost Japaneseinvestment in the supporting industry, a Vietnamese delegation along with eightelectronic firms visited the Japanese central prefecture of Ishikawa to attendthe 57th Kanazawa mechanical manufacturing exhibition, and learn fromTakamaz and Shibuya corporations that are providing equipment for Vietnam.
As a result, three Vietnamese companies wereasked to send price quotes while the Japanese side also mentioned thepossibility of cooperating with Vietnam in the supporting industry as soon aspossible.
Joint work on the supporting industry hasalso been incorporated into activities by the Vietnam – Japan CooperationCommittee, the Vietnam – Japan Joint Initiative, industrialisation strategy,cooperation programme with the Japan International Cooperation Agency and theJapan External Trade Organisation and investment promotion programmes inJapan.-VNA
VNA
