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| Prime Minister Pham Minh Chinh received Mr. Fujimoto Masayoshi, General Director of Sojitz Corporation. (Source: Government Information Portal) |
Sojitz Group (2003) was established through the merger of Nissho Iwai and Nichimen, operating mainly in the fields of trade and investment. Currently, Sojitz has about 350 subsidiaries and 140 joint ventures with nearly 20,000 employees worldwide. In 2022, the group's revenue and profit reached 2,480 billion Yen (18.2 billion USD) and 111 billion Yen (817.8 million USD), respectively.
Sojitz has 17 joint ventures in Vietnam with revenue of about 1 billion USD in the fields of equipment (ITC, power plants, motorcycle parts), energy (gas and coal), chemicals (storage, plastics, rare earth), industrial parks and agriculture and forestry (animal feed, fertilizer, afforestation, wood ...), paper production and BOT projects Phu My III, Vietnam-Japan Fertilizer Company ...
At the meeting, Mr. Fujimoto Masayoshi said that with the support and companionship of the Government and agencies, the corporation has overcome the Covid-19 period in Vietnam.
He said that Sojitz is committed to strong, long-term investment in Vietnam; presented some ideas to expand investment activities in the coming time in the fields of industrial parks and renewable energy; discussed some difficulties and obstacles in the process of implementing investment preparation procedures in the past time; made some recommendations and proposals related to the direct electricity purchase and sale mechanism, renewable energy development, etc.
He informed that currently many Japanese enterprises, including large enterprises, are looking to expand production in Vietnam or shift production to Vietnam. There are about 70 enterprises that are looking into the possibility of Sojitz opening more industrial parks in Vietnam.
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| Prime Minister Pham Minh Chinh hopes that with its strong potential, Sojitz will continuously expand its effective and sustainable business investment activities in Vietnam. (Source: Government Information Portal) |
Prime Minister Pham Minh Chinh highly appreciated Sojitz’s positive and effective contributions to Vietnam over the past years; welcomed Sojitz’s expansion of investment in the industrial park sector in Vietnam. This is a field in which Japan has experience and strengths, and is also consistent with Vietnam’s orientation of cooperation and selective foreign investment attraction.
The Prime Minister said that the Government has just issued the VIII Power Plan, which prioritizes the strong development of renewable energy; at the same time, it requires the pilot issuance and moving towards the official establishment of a mechanism for direct electricity purchase and sale contracts between renewable energy producers and consumers in line with the amendment of the Electricity Law and the roadmap for implementing a competitive electricity market.
The Prime Minister suggested that Sojitz continue to expand investment in industrial park ecosystems, acting as a bridge to promote Japanese enterprises with resources in capital, technology, and management capacity to invest and do business in Vietnam, contributing to bringing Vietnam deeper into the global supply chain.
The Prime Minister hopes that with its strong potential, Sojitz will continuously expand its effective and sustainable business investment activities in Vietnam, contributing more to the socio-economic development process, especially in the fields of industrial parks, renewable energy, etc.
The Prime Minister asked Sojitz to coordinate with the Ministry of Planning and Investment and relevant localities to promptly discuss and jointly remove difficulties and obstacles in the process of implementing investment ideas; coordinate with associations and localities of Vietnam to connect, support and create conditions for Vietnamese enterprises, especially small and medium enterprises, to participate in the Group's supply chain.
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