Japan’s Yamaguchi Prefecture Encouraged to Increase Investment in Vietnam

A delegation headed by Muraoka Tsugumasa, Governor of Japan's Yamaguchi prefecture, is embarking on a visit to Vietnam.

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The extensive strategic partnership between Vietnam and Japan is developing strongly, comprehensively and substantially with high political trust, Deputy Prime Minister Le Minh Khai said when receiving Muraoka Tsugumasa, Governor of Japan’s Yamaguchi prefecture, in Hanoi on September 7, VNA reported.

During the reception, the Deputy Prime Minister emphasized the significance of the Japanese Governor’s visit to Vietnam as the two countries are celebrating the 50th anniversary of the establishment of their diplomatic relation this September.

Encouraging Japan's Yamaguchi Prefecture Businesses to Invest More in Vietnam
Deputy Prime Minister Le Minh Khai receives Muraoka Tsugumasa, Governor of Japan’s Yamaguchi prefecture, in Hanoi on September 7. Photo: VNA

He stressed that Japan is Vietnam’s leading economic partner, the biggest Official Development Assistance (ODA) provider, the second biggest partner in labor, the third biggest partner in investment and tourism, and the fourth largest partner in commerce.

In recent years, localities of the two countries have also actively promoted exchanges and cooperation activities. By now, about 90 pairs of localities have established ties.

Notably, the over 430,000-strong Vietnamese community is the second largest expat community in Japan, which makes a practical contribution to its socio-economic development.

The Deputy Prime Minister also highly appreciated the cooperation between Vietnam and Yamaguchi prefecture. He thanked Governor Muraoka for his support of the cooperative relationship, especially cooperation with Vietnam’s Binh Duong province.

Governor Muraoka said that since Binh Duong province and Yamaguchi prefecture signed an MoU on cooperation in 2014, their cultural, educational and economic cooperation has been generating positive results.

According to the Governor, the late Prime Minister Abe Shinzo is the person who elevated the relationship between Vietnam and Japan to an extensive strategic partnership for peace and prosperity in Asia. Since Vietnam shifted to a market economy, the economic relationship between the two countries has increasingly developed.

He said in the context of the world economic slowdown, Vietnam’s positive growth made a significant contribution to the global economy.

The Japanese official said that Yamaguchi prefecture wishes to expand investment abroad, especially those from small and medium enterprises into Vietnam.

He asked for support from the Government of Vietnam in this regard, noting that in June, the prefecture held a seminar with more than 100 local enterprises to introduce investment opportunities in Vietnam. It will soon organize at trip to Vietnam for Japanese businesses to seek investment opportunities.

After Hanoi, the Japanese delegation visited the southern province of Binh Duong.

Encouraging Japan's Yamaguchi Prefecture Businesses to Invest More in Vietnam
Signing a cooperation agreement in the field of nursing between Binh Duong province and Yamaguchi prefecture. Photo: NDO

About 400 delegates from the Ministry of Foreign Affairs, Yamaguchi prefecture as well as Vietnamese and foreign businesses gathered at the “Meet Japan 2023” program held in Binh Duong on September 8.

The program was organized by the People’s Committee of Binh Duong province in coordination with the Ministry of Foreign Affairs of Vietnam and the government of Yamaguchi to practically celebrate the 50th anniversary of the establishment of diplomatic relations between Vietnam and Japan.

Addressing the event, Permanent Deputy Foreign Minister Nguyen Minh Vu hailed Binh Duong’s idea to organize the program with many activities, contributing to fostering the friendship and extensive partnership between Vietnam and Japan.

He said he hopes the two sides explore their cooperation potential and sketch out specific collaboration plans, thus making more room for partnership between Binh Duong as well as other Vietnamese localities and Japanese partners.

Highlighting the growing ties between Vietnam and Japan over the past five decades, Vu said that the two countries have reached profound political trust and effective and substantial cooperation in all fields. Especially in economy, Japan has been one of the leading important partners of Vietnam, Vu noted.

Encouraging Japan's Yamaguchi Prefecture Businesses to Invest More in Vietnam
Delegates visit the booth at the “Meet Japan 2023” program. Photo: cand.com.vn

He suggested that the two sides work together to grasp cooperation opportunities and tackle difficulties for stronger partnership, and pledged that the foreign ministry of Vietnam and Vietnamese representative agencies in Japan will continue to support Binh Duong in strengthening connections with Japanese partners.

Within the program’s framework, Binh Duong also organized a meeting with Japanese businesses and partners, and granted investment and construction licenses to Japanese firms in Binh Duong, along with various cultural exchanges and investment promotion activities.

Encouraging Japan's Yamaguchi Prefecture Businesses to Invest More in Vietnam
Muraoka Tsugumasa, Governor of Japan’s Yamaguchi prefecture speaks at the “Meet Japan 2023” program. Photo: NDO

Muraoka Tsugumasa, Governor of Yamaguchi affirmed that Binh Duong is a place with an open and attractive investment environment. The provincial leaders were very considerate in welcoming and working with many Japanese delegations and investment promotion organizations to survey and find investment cooperation opportunities.

In particular, Binh Duong also organized a high-level delegation to deploy investment promotion activities in Yamaguchi province and Ishikawa province, connecting investment with the Japan International Cooperation Agency (JICA); Tokyu corporation; NTT East Group, and companies in Japan in the fields of trade, investment cooperation, ODA aid and other economic cooperation.

At the program “Meet Japan 2023”, the People’s Committee of Binh Duong province awarded Investment Registration Certificates, Construction Licenses and project announcements of a number of Japanese enterprises in the province.

Becamex IDC Corporation signed a cooperation agreement with Aeon Company Limited; a cooperation agreement in the field of nursing signed between Binh Duong province and Yamaguchi province to create a solid foundation for the cooperative relationship between Binh Duong and Japanese partners.

A firework performance was also held in Thu Dau Mot city to celebrate the event.

Currently, Binh Duong is hosting more than 300 Japanese enterprises. The southern industrial hub and Japan’s Yamaguchi prefecture have enjoyed fruitful partnership since they signed a memorandum of understanding on friendship and cooperation in December 2014.

Hannah Nguyen