Prime Minister: 'We are ready to welcome Japanese businesses warmly, both sides win'

On the afternoon of December 15 local time, Prime Minister Pham Minh Chinh attended a discussion with the governor and leading businesses of Gunma province (Japan).

Sharing with the Prime Minister, Mr. Hiromasa Tsuchiya, CEO of Cainz Group - one of the largest furniture companies in Japan, said that the company has nearly 300 stores in Japan, with revenue of 3.5 billion yen.

Prime Minister Pham Minh Chinh meets Japanese businesses in Gunma province

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The company is targeting investment in the Chinese market and establishing a branch in Shanghai (China), where it imports products from Vietnam (HCMC). Mr. Hiromasa Tsuchiya said that Cainz wants to increase investment and target the Vietnamese market. According to Mr. Morio Sase, Director of Hotland Co. Ltd (a company with a chain of stores specializing in Takoyaki octopus cakes, has invested in many stores in Southeast Asia but has no facilities in Vietnam - PV), there are currently 150 Vietnamese people working at Hotland. The company often organizes exchange parties, the workers like to climb mountains to see Fuji, see cherry blossoms, like to drink beer, karaoke, very happy. Also attending the discussion were leaders of Yamada Holdings Company - one of the largest electrical appliances companies in Japan, with a subsidiary in Vietnam; Gunma Bank with a branch in HCMC; Subaru Corporation - one of the major car manufacturers exporting to the US market, has 10 material supply companies in Vietnam; Taiyo Yuden Co. Ltd specializes in producing capacitors, accounting for the third largest market share in the world. Welcoming Gunma prefecture enterprises in many fields such as manufacturing, food services, entertainment, automobiles, etc. to invest in Vietnam, Prime Minister Pham Minh Chinh affirmed that Vietnamese ministries, branches and localities will actively support.

Prime Minister Pham Minh Chinh affirmed his readiness to welcome Japanese businesses.

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In response to the proposal of a karaoke business in Gunma, the Prime Minister said that if there is investment in Vietnam, it will increase exchanges, development and complement each other. Vietnam used to develop "hotly" in the karaoke field. Vietnamese people after tiring days of work and study often gather to exchange and relieve stress. Karaoke services in Vietnam are mostly imported from Southeast Asian countries, there is no presence of Japanese enterprises in this field. Stating that Japan's automobile and household appliances industry is famous, the Prime Minister expressed his wish that Japanese products will be transferred technology, use labor and raw materials in Vietnam. According to the head of the Government, the relationship between the two countries after 50 years has been upgraded to a comprehensive strategic partnership, the political and diplomatic environment is very good, increasingly united and close. Gunma is a land of talented people, special terrain surrounded by mountains, near the capital Tokyo (Japan). During the development process, the province has achieved many important results in digital transformation and green transformation. "When entering the factory, you will not see any workers, which means the automation is very high." The Prime Minister expressed his impression that Gunma province's enterprises have chosen a unique way of development and can complement Vietnam, including activities and services in the entertainment sector. "We are ready to welcome you, with trust, warmth, and mutual benefit, in the spirit of harmonious benefits and shared risks," the Prime Minister stated.

Prime Minister Pham Minh Chinh shared at the meeting with businesses on the afternoon of December 15.

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On the Vietnamese side, in the first 11 months of this year, Vietnam attracted nearly 30 billion USD in FDI capital, an increase of 15% compared to 2022; disbursed 20 billion USD, focusing on processing, manufacturing, and green transformation.

Calling on Japanese businesses to invest in high-speed railway

Sharing how Vietnam supports businesses, the Prime Minister said that Vietnam is making 3 strategic breakthroughs. Accordingly, institutional breakthroughs are aimed at the market, competition, and reducing administrative intervention. With infrastructure breakthroughs, logistics costs currently account for about 17% of GDP, high prices, so it is necessary to focus on transport infrastructure to reduce costs, help reduce inputs and product prices, and increase product competitiveness. And finally, there is a breakthrough in high-quality human resources. According to the Prime Minister, when working with foreign investors, most of them are interested in Vietnam's infrastructure and human resources. "These are 2 limitations that we need to focus on to make it easier for businesses to invest," the Prime Minister said. In the banking sector, many large Japanese banks have invested in Vietnam, with some banks investing more than 1 billion USD. Vietnam also suggests that when investing, they must participate in restructuring weak banks. The Prime Minister said he once paused a business trip to work with a Japanese bank and the deal was successful.

Governor of Gunma Prefecture Ichita Yamamoto introduces the unique features of the exchange between Gunma and Vietnam.

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“Japanese enterprises have the characteristic of doing very thorough research, but when it comes to implementation, they are very quick. We hope that you will invest, bringing benefits to enterprises as well as strengthening the friendly and cooperative relationship between the two countries. I have been fortunate to meet many Japanese Prime Ministers, hoping to promote the cooperation between the two countries into concrete terms,” the Prime Minister emphasized. For example, in the field of high-speed railways, Japan has experience, Vietnam's terrain is similar to Japan's terrain, Vietnam wants to have cooperative research. The Prime Minister also suggested that the Governor of Gunma Prefecture will lead more business delegations to Vietnam, 30 businesses in 2023, and 45-50 businesses next year.

Thanhnien.vn