Hanoi (VNA) –🐠 The recent signing of a Memorandum of Understanding (MoU) between Vietnam's Ministry of Planning and Investment (MPI) and Japan's Mie prefecture has taken economic and investment cooperation between the two countries, and particularly with Mie, to a new level.

Speaking at the signing ceremony, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc spoke highly of the growing relationship between Vietnam and Japan, which has been upgraded to a comprehensive strategic partnership. Japan is currently the third-largest investor among 147 countries and territories investing in Vietnam. Ngoc noted that the MPI has signed MoUs with 13 Japanese localities and praised Mie prefecture for its strong potential and advantages in supporting industries. Mie ranks first in Japan in manufacturing components, electronic equipment, electronic circuits, and houses numerous large companies in the semiconductor industry, which are also key sectors in Vietnam’s recent development strategy. Vietnam is accelerating the development of science, technology, innovation, and digital transformation. The Vietnamese government has issued a decree regulating the establishment, management, and use of the Investment Support Fund with new contents and approaches. The MPI will continue to accompany and support Japanese businesses, including those from Mie, in their investment and business activities in Vietnam, contributing to the socio-economic development, and further strengthening the relationship between the two nations for shared prosperity, Ngoc affirmed. Ichimi Katsuyuki, Governor of Mie prefecture, emphasised that Mie is renowned for its processing, manufacturing, and semiconductor industries, particularly in electronics, where it has led Japan for 19 consecutive years. Mie is one of five prefectures in Japan designated for semiconductor industry development./.