Japanese corporations and enterprises need to invest capital and transfer technology to Vietnam.

On the afternoon of December 16, in Tokyo, Prime Minister Pham Minh Chinh received Mr. Ishiguro Norihiko, President and CEO of the Japan External Trade Organization (JETRO) and Mr. Masahiko Kato, President of Mizuho Bank of Japan.

Proposing JETRO to advise the Vietnamese Government on developing investment attraction policies

At the meeting, the JETRO Chairman expressed his wish to continue promoting cooperation and investment activities between the two countries, on the occasion of the 50th anniversary of the establishment of Vietnam - Japan diplomatic relations and the two countries' recent establishment of a comprehensive strategic partnership.

Japanese business groups need to invest in technology transfer capital to Vietnam, picture 1 — Prime Minister Pham Minh Chinh received the President and CEO of the Japan External Trade Organization (JETRO) and the President of Mizuho Bank of Japan.

The Prime Minister highly appreciated the practical and effective contributions of JETRO in Vietnam in promoting investment and trade cooperation between the two countries, as well as coordinating with the Ministry of Planning and Investment and the Vietnamese Embassy in Japan to organize the Vietnam - Japan Business Forum during the Prime Minister's working trip to attend the Japan-ASEAN Conference.

The Prime Minister asked JETRO to continue coordinating with Vietnamese agencies to carry out activities to promote Vietnam's image, investment environment, potential and investment cooperation opportunities to large Japanese corporations and enterprises; encourage and support Japanese enterprises to increase investment in Vietnam; support the development of supporting industries, innovation associated with technology transfer, especially high, green and clean technology.

Along with that, JETRO is requested to advise the Vietnamese Government on developing policies to attract investment and provide incentives focusing on emerging industries, green transformation, digital transformation, circular economy, knowledge economy, and sharing economy.

The Prime Minister also called on Japanese corporations and enterprises to invest capital, transfer technology, and modern management institutions; and exploit the two countries' existing green transition mechanisms such as the Just Energy Transition Agreement (JETP) and the Asian Zero Emission Community (AZEC).

Japanese business groups need to invest in technology transfer capital to Vietnam, picture 2 — The Prime Minister said that the Government and Vietnamese agencies have acknowledged Mizuho's proposals and will promptly handle them according to their authority.

Proposing Mizuho Bank to have preferential policies to support the development of 1 million social housing apartments

Mizuho (2013) is one of the 3 "megabanks" of Japan (alongside SMBC and MUFG) with 461 branches in Japan and 82 branches abroad such as the US, Europe, Singapore, China... Mizuho's total number of employees is more than 24,000 people, revenue in 2022 is more than 15 billion USD, total assets (as of 2022) is more than 1,700 billion USD.

Mizuho currently has two branches in Vietnam in Hanoi and Ho Chi Minh City. In 2011, Mizuho became a strategic shareholder of Vietcombank (VCB) through the purchase of 15% of VCB's shares worth approximately 567.3 million USD).

At the meeting, the Prime Minister said that the Vietnamese Government and agencies have acknowledged Mizuho's proposals and will promptly handle them according to their authority; he requested Mizuho to support and participate in restructuring weak banks in Vietnam and have preferential policies to support the development of 1 million social housing apartments for workers, low-income earners, and disadvantaged people in society.

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