Politics

PM urges Japan’s Mitsubishi to expand investment in Vietnam

Prime Minister Nguyen Xuan Phuc has urged Japan’s Mitsubishi Corporation to expand investment in infrastructure, airport transport, seaports and energy, especially renewable energy, in Vietnam.
PM urges Japan’s Mitsubishi to expand investment in Vietnam ảnh 1Prime Minister Nguyen Xuan Phuc (R) and CEO and President of Mitsubishi Corporation Takehiko Kakiuchi. (Source: VNA)

Hanoi (VNA) – Prime Minister NguyenXuan Phuc has urged Japan’s Mitsubishi Corporation to expand investment ininfrastructure, airport transport, seaports and energy, especially renewableenergy, in Vietnam.

The leader made the suggestion at a receptionfor CEO and President of Mitsubishi CorporationTakehiko Kakiuchi in Hanoi on March 26, during which hestressed that the Vietnam-Japan extensive strategy partnership has developedstrongly, comprehensively and practically across fields, with high mutual politicaltrust.

Japan was a leading economicpartner, the largest official development assistance (ODA) supplier, the fourthbiggest trade partner and No. 1 investor of Vietnam in 2017, he said. 

The PM affirmed that Vietnamattaches great importance to economic cooperation with Japan, noting Japaneseinvestors’ prestige in Vietnam as well as their contributions to the country’ssocio-economic development.

However, he said, Japan’sforeign direct investment (FDI) in Vietnam makes up only 3 percent of its totalFDI in Asia, and lower than its investment in a number of Southeast Asiannations.

The Vietnamese Governmenthas completed institutions and mechanisms to create more favourable conditionsfor foreign investors, including those from Japan, the PM emphasised.

Applauding investment andbusiness activities of Mitsubishi in Vietnam, he suggested the corporation heedmanufacturing, automobile and food processing industries in the country.

He used the occasion to callon Vietnamese and Japanese businesses to increase exchange and cooperation inorder to utilise opportunities generated by the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP) to which both Vietnam and Japan aremembers.

In reply, Takehiko Kakiuchi applaudedPM Phuc’s suggestions, saying they match his corporation’s investment strategyin Vietnam in the time to come.   

He said the greatcooperation achievements between Vietnam and Japan have offered moreopportunities for Japanese firms, including Mitsubishi, to intensify exchange,and expand cooperation and investment in Vietnam. 

He also called on PM Phucand competent Vietnamese agencies to continue their support and create the bestpossible conditions for the corporation to invest and operate in thecountry.-VNA
VNA
# Prime Minister Nguyen Xuan Phuc #Mitsubishi Corporation #CEO and President of Mitsubishi Corporation Takehiko Kakiuchi #ODA #FDI #Vietnam #Japan #VietnamPlus #Viet Nam News Japan
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