Hanoi (VNA) – Prime Minister Pham Minh Chinh has asked Japan's Marubeni Corporation to expand operations in Vietnam, particularly in energy, including gas-fired and offshore wind power.
This is to support Vietnam’s economic growth, bolster its artificial intelligence and big data infrastructure, and facilitate electricity exports to other ASEAN nations, the PM told Masayuki Omoto, CEO of Marubeni Corporation, one of Japan’s leading investment and trading conglomerates with a 80-year track record in Vietnam, during their meeting in Hanoi on July 14.
The leader pledged full support for foreign investors, particularly those from Japan, to operate in Vietnam, stressing a commitment to “harmonised interests and shared risks”.
PM Chinh lauded Marubeni’s long-standing presence, noting its strategic decision to use Vietnam as a key operational base. He credited the company with contributing to Vietnam’s socio-economic growth through technology transfers, job creation, increased export revenues, and tax contributions.
He called on Marubeni to continue viewing Vietnam as a strategic base, and pursue bold, forward-looking ventures.
Sharing Vietnam’s recent administrative reforms and innovative policies, he expressed confidence that Marubeni and other foreign investors would benefit from these positive changes.
The reception underscored the deepening ties between Vietnam and Japan, which PM Chinh described as being at their best ever. He pointed to the complementary nature of the two economies, with Vietnam offering a young, abundant workforce and a strategic location in the heart of Southeast Asia’s fast-growing markets. These factors, he said, present major opportunities for Japanese firms like Marubeni.
Welcoming Marubeni’s plans to expand its investment footprint in Vietnam, he said Vietnam has established a feasible legal and regulatory framework for large-scale power projects, including liquefied natural gas and offshore wind, and confirmed that legal obstacles surrounding the O Mon II gas-fired power project had been resolved.
Beyond energy, he encouraged Marubeni to deepen ties with the Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) to boost coal exports to Japan. He also proposed collaboration in agriculture, including crop and livestock breeding, as well as branding, processing, and exporting Vietnamese staples like coffee, rice, and quality food.
Highlighting potential in industrial development, he suggested investments in industrial parks and manufacturing facilities for instant noodles, mochi cakes, and pharmaceuticals for both domestic and export markets.
He also called on Marubeni to help integrate Vietnamese firms into its global supply chain while supporting workforce training, technological cooperation, and digital transformation.
Omoto, in response, highly appreciated Vietnam’s strategic policy decisions and its increasingly improved business climate. He particularly praised the ongoing streamlining of administrative apparatus and restructuring of administrative boundaries, saying these efforts would enhance operational efficiency, simplify administrative procedures, and shorten licensing and decision-making processes.
Hailing Vietnam’s continued status as a market of strategic importance, he said Marubeni is committed to further contributing to the country’s development. The group plans to expand its presence in the market with quality investments, including a strong focus on human resource training. Key projects include the O Mon II gas-fired power plant, the Quang Ninh LNG power project, wind and solar farms, the Amata City Halong Industrial Park, processing plants for export products, and smart urban development projects in Hanoi and Ho Chi Minh City.
He noted that Marubeni will continue striving to roll out concrete, high value-added projects in the sectors suggested by the PM.
Marubeni established its Vietnam office in 1991. Its projects in the country currently employ about 7,500 Vietnamese staff and generate approximately 3 billion USD in annual revenue. So far, Marubeni Vietnam has built 11 thermal power plants with a total capacity of 4,000 MW./.
