Conference to Facilitate Connections Between Thanh Hoa Province and Japanese Partners and Investors

Nguyen Van Thi, Vice Chairman of Thanh Hoa Provincial People's Committee, recently announced that out of 200 Foreign Direct Investment (FDI) projects in Thanh Hoa Province, 17 of them are from Japanese enterprises, with a total investment of approximately US $6.6 billion.

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The Conference Connecting Thanh Hoa – Japan 2023 was recently held by the Ministry of Foreign Affairs, the Embassy of Japan in Vietnam, the Vietnam-Japan Friendship Association, and Thanh Hoa Province. The conference provided an opportunity for leaders from both countries to discuss ways to further strengthen relations and collaboration between Thanh Hoa and Japan. The conference focused on topics such as trade, investment, cultural exchange, educational exchange, and tourism.

During the conference, the leaders signed a joint statement that outlines their commitment to deepen the relationship between Thanh Hoa and Japan. The statement also sets out a roadmap for the two countries to work together in the coming years. Furthermore, they discussed a range of initiatives to promote mutual understanding between the two countries and to encourage people-to-people exchange.

The Conference Connecting Thanh Hoa – Japan 2023 was a success and both sides are looking forward to further strengthening their ties. It is hoped that this conference will be the catalyst for increased collaboration between Thanh Hoa and Japan in the years to come.

Conference to Connect Thanh Hoa Province with Japanese partners, investors
The event welcomes more than 300 representatives from Japanese businesses and from the Japan – Vietnam Parliamentary Friendship Alliance to Thanh Hoa Province (Photo: Duc Tho/PLVN).

This is part of the celebrations to mark the 50th anniversary of diplomatic relations between Vietnam and Japan. It is also an opportunity to welcome over 300 representatives from Japanese businesses and from the Japan-Vietnam Parliamentary Friendship Alliance, according to the Organizing Committee.

The theme of this year’s conference was “Thanh Hoa – Japan: Boosting Cooperation, Rapid and Sustainable Development.” The 3-day event lasted until the afternoon of May 7, with the highlight being a review of the significant achievements that have been made through the cooperation between Thanh Hoa and Japanese investors and partners over the years. Additionally, the conference welcomed foreign investors to continue exploring opportunities in Thanh Hoa in the future.

Since 1997, the Japanese Government has sponsored 10 Overseas Development Assistance (ODA) projects in Thanh Hoa, with a total funding of US $45.5 million. This investment has enabled Thanh Hoa province to provide more than 13,300 workers with employment opportunities in Japan in a variety of areas.

Out of 200 Foreign Direct Investment (FDI) projects in Thanh Hoa Province, 17 of them are from Japanese enterprises, totaling roughly US $6.6 billion and accounting for 45.7% of the FDI capital in the region. These numbers make Japan the biggest investor in the province.

Speaking at the conference, Secretary of Thanh Hoa Provincial Party Committee Do Trong Hung emphasized the importance of comprehensive cooperation between Thanh Hoa and Japanese partners in order to build smart cities, e-government, improve education and healthcare, and develop the human resource and labour markets.

Thanh Hoa province has pledged to implement solutions to improve the investment environment, perfect mechanisms and policies, promote administrative reform, and ensure security, social order and safety for enterprises that invest in the province. This commitment was cited by the Vietnam News Agency’s NDO.

Speaking at the conference, Chairman of the Japan – Vietnam Parliamentary Friendship Alliance, Nikai Toshihiro, reaffirmed that Thanh Hoa is a locality with abundant tourism resources, including the UNESCO-recognised Ho Dynasty Citadel and the renowned Sam Son Beach. Furthermore, Nghi Son economic zone boasts a modern seaport, thus demonstrating the province’s considerable potential for economic and tourism collaboration with Japan.

Conference to Connect Thanh Hoa Province with Japanese partners, investors
Thanh Hoa Provincal leaders and Chairman of the Japan – Vietnam Parliamentary Friendship Alliance Nikai Toshihiro (right) (Photo: BTH).

The Ambassador Extraordinary and Plenipotentiary of Japan in Vietnam, Takio Yamada, affirmed the close relationship between Thanh Hoa and Japanese partners. Direct investment from Japan has reached VND 2.2 trillion for the Nghi Son 2 power plant project, which is expected to meet the demand for electricity supply for Vietnam after it came into operation last year. Furthermore, AEON, the Japanese retail giant, is currently planning to start construction of a shopping center in 2023, with an anticipated opening in 2025 in this city.

He also highlighted that Japanese businesses choose Thanh Hoa as a destination for investment due to two main reasons: the abundance of labor and the advanced transportation infrastructure system, including highways. In addition, Thanh Hoa has set up a Japan Support Department (JAPAN DESK) and established a special economic zone, both of which are attractive incentives for Japanese businesses to invest.

Fanasy Nguyen Le