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Vietnam Today

Vietnam & Japan pledge to enhance economic connectivity

Released at: 10:20, 07/06/2017

Vietnam & Japan pledge to enhance economic connectivity

PM Nguyen Xuan Phuc (L) and PM Shinzo Abe at the press conference following their talks in Tokyo on June 6. Photo: VGP

Two PMs unanimous in promoting Japanese investments in Vietnam via effectively launching the sixth stage of the Vietnam-Japan Joint Initiative and strengthening public-private partnerships.

by Nguyen Quoc

During their talks in Tokyo on June 6, Prime Ministers Nguyen Xuan Phuc and Shinzo Abe reached consensus on the major orientations and specific measures required to push forward the extensive strategic partnership between Vietnam and Japan in a more comprehensive, practical, and effective manner, according to a report from the Vietnam News Agency.

PM Phuc affirmed that Vietnam consistently considers Japan a leading and long-term economic partner and attaches great importance to the strategic economic cooperation.  

PM Abe spoke highly of Vietnam’s increasingly important role in the region and the world and will provide strong support for its development, with the involvement of Japanese small and medium-sized enterprises, corporations, and research institutes.  

The two Prime Minister lauded the first State visit to Vietnam by the Japanese Emperor and Empress and agreed to strengthen political trust, regularly maintain high-level visits and meetings, and improve the efficiency of the existing dialogue mechanisms. 

PM Abe promised full support for Vietnam to successfully hold the Asia-Pacific Economic Cooperation (APEC) Summit in the central city of Da Nang in November. 

Both sides are committed to cooperation in national defense and security, UN peacekeeping mission, and post-war recovery. 

They vowed to promote economic connectivity via extending links in investment, trade, official development assistance (ODA), high-tech agriculture, and labor. 

Both wish to promote Japanese investments in Vietnam via effectively launching the sixth stage of the Vietnam-Japan Joint Initiative and strengthening public-private partnerships. 

They will work closely in launching action plans for six sectors named in Vietnam’s industrialization strategy within the Vietnam-Japan cooperation framework to 2020 and vision to 2030 and speed up the progress of major infrastructure projects such as the North-South Expressway, Hoa Lac High-tech Park, and urban railway lines. 

The fourth high-level dialogue on agriculture will be held soon, while procedures to facilitate access for Vietnamese litchi and longan to Japan and for Japanese oranges and tangerines to enter Vietnam will be accelerated. 

The leaders agreed to step up cooperation in education, human resources training, and locality-to-locality affiliations.

PM Abe affirmed Japan’s support for Vietnam to carry out a project on improving the operations of political systems and training managerial officials at all levels, particularly those in strategic positions. Japan will initially train 800 Vietnamese master and doctorate holders in the next five years. 

The two agreed to promote cultural, sports, and people-to-people exchanges while working closely together to celebrate the 45th anniversary of bilateral diplomatic ties in 2018. 

On regional and global issues of shared concern, they vowed close coordination at multilateral forums such as ASEAN, APEC, the Asia-Europe Meeting (ASEM), and the UN. 

Regarding the East Sea issue, they underscored the importance of ensuring peace, security, and maritime and aviation safety and freedom, and called on parties concerned to refrain from unilateral actions, including militarizing, changing the status quo, and complicating and extending disputes in the East Sea, while promoting the settlement of disputes by peaceful means, fully respecting diplomatic and legal processes in line with international law, including the 1982 UN Convention on the Law of the Sea, fully and effectively implementing the Declaration on the Conduct of Parties in the East Sea (DOC), and promptly reaching a Code of Conduct in the East Sea (COC). 

After their talks, the two PMs witnessed the signing of 14 documents between Vietnamese and Japanese ministries and agencies. 

The documents include diplomatic notes for the exchange of four ODA projects worth JPY100.3 billion ($912 million).

Others were diplomatic notes on the exchange of three non-refundable aid projects valued at JPY2.93 billion ($26.6 million), covering the operations of reservoirs in case of emergencies and effective flood management through an inclusive natural disaster management information system, and the Human Resources Development Scholarship Program in 2017 and 2018. 

The two leaders then met with the media, during which they emphasized that the two sides reached many common perceptions that deepen the extensive strategic partnership in various fields, especially by enhancing mutual political trust, promoting economic ties, and closely cooperating with each other in regional and international issues of shared concern. 

PM Abe said that Japan, with its outstanding technologies and experience, is resolved to contribute to building high-quality infrastructure, improving the investment environment, and developing human resources in Vietnam, thus creating business opportunities that bring benefits to both sides.

Regarding the wave of protectionism and anti-globalization, the Japanese PM pledged that he will work together with his Vietnamese counterpart to push free trade and investment. 

Japan will comprehensively support Vietnam’s hosting of the APEC Economic Leaders’ Meeting in November in Da Nang. 

The two countries will also join hands to quickly realize the TPP and the Regional Comprehensive Economic Partnership (RCEP). 

PM Phuc affirmed that the Vietnamese Government will effectively use Japanese ODA, build a transparent investment environment, create optimal conditions for Japanese investors, and seriously implement commitments made at the investment promotion conference on June 5. 

He announced that during his visit, the two countries’ ministries, agencies, and localities signed 43 foreign direct investment (FDI) documents valued at over $22 billion. 

Vietnam welcomes and backs Japan’s initiatives to ensure economic prosperity, freedom of trade, and maritime safety on the basis of respecting the UN Charter and international law, as well as the independence and sovereignty of countries, for peace, stability, cooperation, and development in the region and the world at large, PM Phuc said.

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