Hanoi (VNA) – Minister of Industry and Trade Le Manh Hung on November 10 held working sessions with leaders of major Japanese corporations, including Sojitz, Shin-Etsu and Iwatani, to discuss investment cooperation opportunities in Vietnam’s mineral industry, according to the Ministry of Industry and Trade (MOIT).
During the meetings, which were held as part of the official visit to Japan by General Secretary of the Communist Party of Vietnam Central Committee and President To Lam, Hung spoke highly of economic, trade and investment ties between the two countries, highlighting the important role of Japanese businesses in developing production, transferring technology and strengthening supply chain linkages in Vietnam.
Hung affirmed that Vietnam attaches importance to cooperation with capable corporations possessing advanced technologies, and expects investment activities to contribute to sustainable development, capacity building for domestic enterprises and training of high-quality human resources.
Highlighting Vietnam’s goals to become a developing country with modern industry and upper-middle income by 2030, and a developed, high-income country by 2045, the minister said that to achieve these, the country considers industrial restructuring towards greater autonomy in materials, technology and production, higher localisation rates and stronger industrial value chains as especially important.
Particular attention is being paid to developing integrated value chains, from exploiting and deeply processing critical minerals to manufacturing and distributing high-value-added industrial products, thereby helping enhance the economy's competitiveness and self-reliance, he stressed.
He also provided the Japanese corporations with information on Vietnam’s policies, strategies and conditions for cooperation in developing the critical mineral industry.
Representatives of the firms thanked the Vietnamese Government and the MOIT for creating favourable conditions for their stable investment and business operations, particularly in mineral, chemical and permanent magnet manufacturing industries.
After reporting on their operations and development strategies, the corporations expressed their interest in expanding cooperation and exploring further investment opportunities in Vietnam’s mineral industry.
Hung called on them to enhance connections with Vietnam’s specialised agencies, research institutions and businesses to identify practical cooperation opportunities and help develop stable and sustainable strategic mineral supply chains in compliance with the laws of both countries.
He also encouraged the corporations to explore and turn investment cooperation opportunities in Vietnam into reality, ensuring technology transfer and deep processing of critical minerals, among other requirements, to establish supply chains in the country.
The MOIT stands ready to engage, coordinate and create favourable conditions, in accordance with Vietnamese law, for Japanese investors to operate effectively and sustainably, the minister affirmed.
The same day, Hung had a working session with Daiki Mihara, Executive Officer in charge of automobile operations at Honda Motor Co. Ltd, during which he lauded the firm's contributions to Vietnam’s socio-economic development over the past 30 years, particularly in motorcycle and automobile manufacturing and sale.
Honda’s operations have helped with job creation, industrial growth and the development of domestic supply chains, he said, calling on the company to deepen ties with local suppliers, expand investment and production, and develop hybrid vehicles in line with Vietnam’s drive towards a modern, self-reliant and sustainable automobile industry.
He also highlighted tax incentives for hybrid vehicles under the Law on Special Consumption Tax, effective from January 1, 2026, and expressed his hope that Honda will expand manufacturing, research and technology development in Vietnam./.
