An overview of the meeting of the Joint Committee of the Vietnam-Japan Joint Initiative (Source: VNA)
Hanoi (VNA) – Vietnam and Japan have agreed to implement the sixth phase of their Joint Initiative for the next 17 months, starting from August 2016.

A memorandum of understanding to this effect was signed at a meeting of the Joint Committee of the Vietnam-Japan Joint Initiative held by the Ministry of Planning and Investment in coordination with the Japanese Embassy in Vietnam and the Vietnam-Japan Economic Committee in Hanoi on August 22.

The sixth phase will focus on employment, salary, logistics and transportation, services, small- and medium-sized enterprises, pharmaceutical products, the Law on Investment and the Law on Enterprises.

The initiative, launched in April 2003 as a result of special cooperation between the two Governments, aims to create an open and transparent business and investment climate in Vietnam through a policy dialogue between Japanese investors and relevant Vietnamese ministries and agencies, said Minister of Planning and Investment Nguyen Chi Dung.

It also makes proposals to help competent Vietnamese agencies complete laws and policies, he added.

Japanese Ambassador Fukada Hiroshi said the local investment environment has been improved significantly thanks to the initiative, encouraging Japanese businesses to pour more investments into the Southeast Asian nation while helping the country lure more foreign investors.-VNA