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Vietnam Today

Seventh phase of the Vietnam-Japan Joint Initiative held in Hanoi

Released at: 11:26, 02/08/2018

Seventh phase of the Vietnam-Japan Joint Initiative held in Hanoi

Photo from dangcongsan.vn

Nine out of ten issues were solved by the Japanese and Vietnamese sides at the seventh phase of the Vietnam-Japan Joint Initiative meeting held by Vietnam's Ministry of Planning and Investment, the Japanese Embassy in Vietnam, and the Vietnam-Japan Economic Committee under the Japan Business Federation (Keidanren).

by Nghi Do

The meeting of the joint committee was launched in Hanoi on July 31. It covered some issues left by the previous phase as well as new content. The seventh phase will last from August 2018 until the end of 2019.

The Japanese side has made 65 recommendations regarding investment regulations in Vietnam for foreign investors as prescribed in the Investment Law, the Law on Enterprises, the Land Law, and other relevant laws.

The recommendations also covered topics such as the reform of State enterprises and the stock market, the intensification of industrialization with international competitiveness, labor and wages, and the policy framework on the Public-Private Partnership (PPP).

There will be three meetings to review the implementation of the phase. They're scheduled for late 2018, mid-2019 and late 2019.

Minister of Planning and Investment Nguyen Chi Dung affirmed that with the high consistency from the Japanese side and the feedback from the Vietnamese side at the meeting, it clarified the issues concerned by the two sides including tightening cooperation between the two sides to solve current problems. Mr. Dung also highly appreciated the efforts of the Japanese working with Vietnamese ministries and sectors to actively discuss the contents of the action plan.

"In the context of deep global integration, with the new framework for economic cooperation, the Japan-Vietnam Joint Initiative should focus on new approaches and new ways of implementing them more realistically, more effectively and more positively,” he said.

The two sides also signed a memorandum of understanding at the meeting.

The Vietnam-Japan Joint Initiative was launched in April 2003 as a result of the special cooperation mechanism between the Vietnamese and Japanese governments.

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