Vietnam-Japan ties promote impetus for integration process
Vietnam has brought into full play its cooperation with Japan to generate new momentum for the country’s integration and development process, a Vietnamese economic expert said.
Assembly line at the Sankoh Vietnam Co. Ltd, a 100 percent Japanese investment company. (Photo: VNA)
Hanoi (VNA) –ಞ Vietnam has brought into full play its cooperation with Japan to generate new momentum for the country’s integration and development process, a Vietnamese economic expert said.
Deputy Head of the Vietnam Trade Promotion Agency Do Kim Lang made the statement at a conference to promote trade links in IT and software between the two countries held in Hanoi on November 23, during which he highlighted efforts made by the Vietnamese Government to fine-tune the business and investment climate.
Vietnam has paid attention to simplifying administrative procedures while improving its financial and banking system, and infrastructure facilities, which are expected to help attract more foreign investments, especially those from Japan, he said.
Kobayashi Tatsuo, CEO of Kansai Information System Industry Association in Osaka prefecture, said IT firms from the Kansai region are interested in Vietnam markets. He added that representatives from 12 companies in Kansai are on taking a fact-finding tour to Vietnam to seek business opportunities.
IT connections between Vietnam and Japan have reaped successes in recent times. There are more and more Japanese businesses selecting Vietnam as an attractive destination for investment. Meanwhile, Japan is one of the three largest markets for Vietnamese IT firms.
According to Nguyen Doan Hung , Chairman of the Vietnam - Japan IT Cooperation Club (VJC), Vietnam has a great opportunity to expand its market and promote cooperation in the IT field with Japan. He advised Vietnamese businesses to focus on improving the quality of their products in order to meet requirements from their Japanese counterparts.
Government statistics show that between 2011 and 2013, Japan topped the list of 101 countries and territories investing in Vietnam. By October 2015, Japan poured 1.48 billion USD into new and existing projects in Vietnam, raising its total investment in the Southeast Asian nation to nearly 39 billion USD.
Japan is Vietnam’s third largest trade partner and second biggest importer.
Two-way trade has witnessed stable growth every year, reaching nearly 19 billion USD in the first eight months of the year. Vietnam’s key exports to Japan include textiles, crude oil and aquatic products.-VNA
Japan’s Gifu prefecture will give priority to effective cooperation with Vietnam, especially in its major fields such as support industry, hi-tech agriculture and tourism, said Governor Furuta Hajime.
Vietnamese Ambassador to Japan Nguyen Quoc Cuong has expressed wish for further Japanese support to Vietnam in processing and preserving food and farm produce.
Japan will continue providing ODA worth 172 billion JPY (1.4 billion USD), bringing total Japanese ODA for Vietnam to a record 300 billion JPY (2.5 billion USD) in fiscal year 2015.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Assembly line at the Sankoh Vietnam Co. Ltd, a 100 percent Japanese investment company. (Photo: VNA)
