Vietnamese Minister of Finance Vuong Dinh Hue has pledged to create all favourable conditions for Japanese businesses to operate effectively in Vietnam .

Hue , who has accompanied Prime Minister Nguyen Tan Dung on an official visit to Japan from Oct. 30 to Nov. 2, made the commitment while receiving leaders of Daiwa Securities Group Inc., Dai-ichi Life Insurance Company and Mitsui Sumitomo Insurance Group.

Meeting with Chairman of Daiwa Securities Group Inc. Akira Kiyota on Nov. 2, Hue said he hoped that the group will continue to cooperate closely with his ministry in training staff for the financial sector.

He requested the group to provide Vietnam with consultancy in restructuring a number of important economic sectors and issuing government bonds both in and outside the country.

A day earlier, Minister Hue had meetings with leaders of the Sumitomo and Daiichi groups, where he introduced potentials of the Vietnamese insurance market.

The minister suggested the two groups expand investment in the capital market, especially medium and long-term government bonds.

Leaders of the Japanese groups promised to expand business and investment in Vietnam in the years to come.

They also affirmed their willing to share experience with the Finance Ministry and relevant agencies of Vietnam in reducing the amount of state budget allocated for pensioners and beneficiaries of social welfare./.