Minister of Planning and Investment Nguyen Chi Dung (Photo: Vietnam+) Hanoi (VNA) - Vietnam is committed to intensifying efforts to promote investment abroad and creating favorable domestic investment environment to attract foreign investors, especially those from Japan.
Minister of Planning and Investment Nguyen Chi Dung highlighted this commitment during the award ceremony of the “Inno Vietnam-Japan: Fast Track Pitch 2023” programme, held on November 3.
The programme, organised by the Ministry of Planning and Investment of Vietnam in collaboration with the Ministry of Economy, Trade and Industry (METI) of Japan, coincides with the 50th anniversary of diplomatic relations between the two countries.
Minister Dung praised the programme as a tangible initiative that demonstrates the strong determination of Vietnamese and Japanese ministries and relevant agencies in promoting innovation, attracting investment, and expanding market opportunities for businesses.
The award ceremony of the “Inno Vietnam-Japan: Fast Track Pitch 2023” on November 3 (Photo: Minh Son/Vietnam+). According to the Ministry of Planning and Investment, Japan consistently ranks among the top countries in terms of FDI in Vietnam, with a total investment capital of 69 billion USD by the end of 2022, placing it third after the Republic of Korea and Singapore.
However, Vietnam’s direct investment in Japan remains relatively modest, at over 19 million USD.
The inauguration of the National Innovation Center (NIC) on October 28 is significant to drive Vietnam’s economic growth, attract foreign investment, and the country’s rapid and sustainable development based on science, technology, and innovation, Minister Dung said.
On the Japanese side, the Japan Trade Promotion Agency (JETRO) announced the results of the survey on the current state of business activities of Japanese enterprises abroad in 2022, ranking Vietnam as the second most popular country in the world for Japanese businesses.
This indicates the vast potential and investment opportunities available for Japanese companies in Vietnam, fostering a positive cycle for the economic development of both countries.
The award ceremony of the “Inno Vietnam-Japan: Fast Track Pitch 2023” programme was held on November 3 as part of the “ASEAN - Japan Co-Creation Fast Track Initiative.”
Jointly chaired by the Ministry of Planning and Investment of Vietnam and the Ministry of Economy, Trade, and Industry of Japan, the programme aimed to attract innovative businesses and startups from Japan and the Southeast Asian country to address pressing issues that they are encountering.
After more than two months since its announcement (August 29), the organising committee received nearly 100 high-quality solutions.
Six outstanding solutions to challenges faced by Vietnamese and Japanese businesses were awarded at the programme.
They were considered the most innovative and promising solutions that help businesses optimize processes and create tangible value for society.
Particularly, the winning products and solutions will have the opportunity for commercialisation, development support, and future investment to expand their market and participate in the global value chain./.
