The Vietnam-Japan Joint Initiative after 10 years of implementation has helped the Vietnamese Government improve economic development policies, in particular the investment environment to attract more investment and develop the country’s economy.

Minister of Planning and Investment Bui Quang Vinh made the announcement at a meeting held by the Ministry of Planning and Investment (MPI), the Japanese Embassy in Vietnam and the Vietnam-Japan Economic Committee (VJEC) in Hanoi on November 23 to review the fourth phase of the initiative.

Japan now ranks first among 96 countries and territories that have invested in Vietnam . Therefore, Vietnam wants to maintain Japan ’s strong support in the fifth phase of the action plan, Vinh added.

Takahashi Kyouhei, VJEC’s President, said that over the past 18 months Vietnam has worked with the Japanese side to hold close to 40 policy talks to deal with difficulties that surfaced in the investment process.

Japan has made constructive recommendations and coordinated with Vietnam to carry out joint surveys that will be used as a reference to complete laws and policies of Vietnam’s functional agencies.

The two sides established a macroeconomic group in order to increase mutual understanding and make some of Vietnam ’s macroeconomic targets more transparent, including international receipt and expense balance, and foreign currency reserves.

Japanese Ambassador to Vietnam Tanizaki Yasuaki says to attract more foreign direct investment to Vietnam , the two sides have agreed to solve existing problems in investment procedures and environment. After the first ODA package of 1.2 billion USD for Vietnam , Japan will decide on ODA capital for the whole year./.VNA