(MPI Portal) - In the framework of the major events to celebrate the 40th anniversary of the diplomatic relation between Vietnam and Japan, Vietnam - Japan Economic Summit 2013 (VJES) took place on September 5th, in Hanoi.
The summit was organized in collaboration with the Vietnamese Chamber of Commerce and Industry (VCCI), the Japan External Trade Organization (JETRO) and the Japanese Economic Times Nikkei Business Publications, the coordination of the Japan-Vietnam FriendshipParliamentaryAlliance, Japanese Embassy in Vietnam and Japanese International Cooperation Agency (JICA). The participants of the Summit included PhD. To Huy Rua, Politburo member, Secretary of the Central Committee of the Party, Head of Personnel Department of the Central Committee, Chairman of Japan-Vietnam FriendshipParliamentaryAlliance; PhD. Vu Tien Loc, VCCI Chairman and Mr. Arata Takebe, representatives of Japan-Vietnam FriendshipParliamentaryAlliance of Japan National Assembly. Besides, there were leaders of Ministries, sectors such as: Mr. Bui Quang Vinh, Minister of Planning and Investment; Mr. Nguyen Van Binh, Governor of the State Bank; Mr. Truong Chi Trung, Deputy Minister of Finance; Mr. Yasuaki Tanizaki, Ambassador Extraordinary and Plenipotentiary of Japan in Vietnam. The Summit was also attended by experts, senior officials from the Central Institute of Economic Management (CIEM), Embassy of Japan in Vietnam, the Japanese International Cooperation Agency (JICA), the Japan External Trade Organization (JETRO), the local leaders and the largest corporations in Vietnam and Japan.
At the opening speech of the Summit, PhD. To Huy Rua emphasized that the fostered economic cooperation between Vietnam and Japan would provide the foundation to connect the two countries, updating the investment opportunities. The areas of cooperation between the two countries are increasingly deep and comprehensive, not only in economic field but also in more new areas with great potential. Both economies have mutually supported and supplemented.
Speaking at the Summit, PhD. Vu Tien Loc affirmed the important strategic partnership between Vietnam and Japan after 40 years of diplomatic relationship. Japan is the country with largest foreign direct investment (FDI) into Vietnam. In 2011, as much as 234 new projects of Japan were granted investment certificate into Vietnam, accounting for 25% of total FDI investment in Vietnam, and in 2012, this figure increased to 317 projects, accounting for nearly 50% of total FDI investment in Vietnam. Besides, Japan is also the largest investor for ODA in Vietnam, in which more than 70% of capital invested in projects of infrastructure development, contributing to solve the employment problem in Vietnam. PhD. Vu Tien Loc stressed the importance of the Summit in enhancing economic cooperation between the two countries, meanwhile creating opportunities for dialogues among enterprises and representatives of Government, leaders of Ministries, branches and localities.
As for Japanese side, Mr. Yasuaki Tanizaki, Ambassador Extraordinary and Plenipotentiary of Japan in Vietnam, said: "As an industrialized country with the financial ability and technological strength, Japan is always seeking for the international investment opportunities. With the strengthening investment from Japan, Vietnam would be given strength for more powerful development, Vietnamese lives could be further strengthened. "
At the Summit, Minister of Planning and Investment Bui Quang Vinh said, Japanese investment in Vietnam has increased dramatically in recent years, particularly foreign trade turnover between Vietnam and Japan increased 5.6 times higher than that in 10 years ago, reaching US$ 25.9 billion in 2012. There has been a boom in investment of Japanese enterprises into Vietnam, focusing primarily on small and medium size enterprises. This is a great opportunity for Vietnam, stressed the Minister.
In addition, the Minister also pointed out three issues needed to be concerned by Vietnam, including institutional reform, establishment of a legal framework system to leverage Vietnam's economy, and improvement of transport infrastructure for investment attraction.
Industrialization Strategy in the framework of Vietnam – Japan cooperation toward 2020, vision to 2030 includes six prioritized sectors for development: Electronics; agricultural and aquatic product processing; agricultural machinery; environment and energy saving; automobile and auto parts manufacturing; shipbuilding. In the coming time, Vietnam and Japan need to synchronize the legal framework, administrative procedures and policies to encourage the prioritized sectors. At the same time, the two countries should further review and assess current strategies, plans and policies related to the six prioritized sectors, forming the basis of further development of Vietnam's economy toward the goal of industrialization and modernization./.