Cooperation between the Vietnamese and Japanese government with the participation of Japanese businesses would create new competitiveness for Vietnam and bring benefits to both sides, said Deputy Prime Minister Nguyen Sinh Hung.

The Deputy PM made the remark while receiving in Hanoi on Dec. 10 a delegation of the Japan-Vietnam Economic Committee under the Japan Federation of Economic Organisations (Keidanren), which is in Vietnam to attend the Vietnam-Japan Joint Initiative (VJIT) Phase III Evaluation and Facilitation Committee Meeting.

Deputy PM Hung informed the Japanese guests that the main task of Vietnam in the 10 coming years is restructuring the economy.

He said he is glad the Japanese government and businesses will help develop the supporting industry of Vietnam and believed that with their experiences, Japan would help Vietnam to develop faster.

On behalf of the Japanese delegation, the Co-President of the Japan-Vietnam Economic Committee Kato Susumu expressed his joy at the close ties between Japan and Vietnam . Especially, the two sides have developed their cooperation to many new areas, including nuclear power and rare earth.

The Japanese side expressed their wish to contribute advanced technology and equipment to cooperation with Vietnam .

He said that the VJIT Phase III Evaluation and Facilitation Committee Meeting evaluated 62 small specific contents with good results seen in customs, mechanism on intellectual property protection, regulations on interest rates and some pilot projects on public-private partnership (PPP).

Kato Susumu said that in the next period, the two sides should exert more efforts to boot cooperation, especially in developing the supporting industry, which would go together with the rate of localisation of foreign businesses in Vietnam . He also mentioned the settlement of power shortage, the PPP cooperation mechanism, training of human resources and infrastructure development./.