Vietnam commits to "3 guarantees" with Japanese businesses and investors

Prime Minister Pham Minh Chinh affirmed that the Vietnamese Government is committed to "3 guarantees" with the Japanese business community and investors. At the same time, with the spirit of harmonious benefits and shared risks, the Vietnamese side wishes to implement "3 togethers".

Vietnam - one of the most expected countries

On the afternoon of March 1, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired a discussion with large Japanese corporations and enterprises.

Also attending were Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung, leaders of central ministries and branches and several localities, and leaders of 12 large corporations and enterprises.

On the Japanese side, there were the Japanese Ambassador to Vietnam, leaders of international organizations, Japanese business associations, and representatives of 15 large corporations and enterprises.

Thủ tướng: Việt Nam cam kết — Prime Minister Pham Minh Chinh chaired a discussion with large Japanese corporations and enterprises (Photo: VGP/Nhat Bac).

Japanese Ambassador to Vietnam Ito Naoki said that many Japanese enterprises have the desire and enthusiasm to increase investment and trade with Vietnam.

Businesses all expect the development of Vietnam's economy in the coming time, especially with the era of growth, the revolution in streamlining organizational apparatus...

The Ambassador believes that the current results of simplifying administrative procedures, speeding up decision-making, and improving the investment environment of the Vietnamese Government will help increase Japanese investment.

Mr. Ozasa Haruhiko, Chief Representative of the Japan External Trade Organization (JETRO) in Hanoi, said that through the most recent survey with Japanese enterprises, the importance of emerging markets has increased significantly and one of the most anticipated countries is Vietnam.

Accordingly, more than 60% of Japanese enterprises in Vietnam are expected to make a profit in 2024, the highest in the past 5 years. Enterprises also predict strong growth, with 56% of enterprises planning to expand operations in the next 1-2 years, ranking first in ASEAN and Vietnam being one of the countries with the strongest growth momentum.

At the seminar, Japanese enterprises and organizations, such as the Japan International Cooperation Agency (JICA), JBIC Bank, Moeco, Marubeni, Tokyo Gas, Shimizu, Sumitomo, Hitachi, Nippon Koei, Toyota, Aeon... presented cooperation opportunities and made recommendations.

Some projects mentioned by Japanese enterprises and organizations are in the fields of energy, implementation of Hanoi urban railway line No. 2 Nam Thang Long-Tran Hung Dao, North-South expressway section Ben Luc-Long Thanh, development of traffic in the Mekong Delta, development of Vietnam-Japan University, promoting investment towards the future, implementation of new generation ODA projects, etc.

Final payment to Metro Line 1 contractor

In his concluding remarks, Prime Minister Pham Minh Chinh, on behalf of the Government, thanked the Japanese Government and businesses for sharing hardships and contributing to the development of Vietnam and the relationship between the two countries.

However, cooperation and investment projects between the two countries still have problems and shortcomings that need to be resolved.

The Prime Minister assigned specific tasks to ministries, branches and agencies to handle, in which Deputy Prime Minister Ho Duc Phoc directly directed, the Ministry of Finance urgently coordinated with the Ministry of Justice to review procedures and processes, propose amendments to related decrees, especially regulations on taxes on non-refundable aid, this must be done in March.

In particular, the Prime Minister assigned Vice Chairman of Ho Chi Minh City Bui Xuan Cuong and relevant agencies to complete before April 30 issues related to payment to contractors for the Ho Chi Minh City Ben Thanh-Suoi Tien Metro Line No. 1 project, which has recently been put into very effective operation.

The Prime Minister emphasized the spirit of honesty, mutual trust, based on practice, specific calculations, ensuring publicity, transparency, accuracy, harmonious benefits, shared risks, quick resolution of issues on the basis of overall interests, and the comprehensive strategic partnership between the two countries.

The implementing agencies shall comply with their authority. If they exceed their authority, they shall report to the competent authority. The Japanese side shall provide sufficient convincing documents for the two sides to sit down together.

Regarding the Nghi Son Refinery and Petrochemical project, the Prime Minister had many meetings and discussions with Japanese leaders, JBIC Bank and related partners. The Prime Minister requested JBIC Bank to promptly and actively implement agreements and commitments to soon resolve difficulties and obstacles for the project.

Listen and understand, share vision

The Prime Minister asked Japanese enterprises to step up exploitation of the vast economic, trade and investment cooperation space between the two countries to contribute to promoting the Vietnam-Japan Comprehensive Strategic Partnership; Japan and Japanese enterprises support, respond to and join in realizing Vietnam's growth target of 8% or more.

Vietnam hopes that Japanese enterprises, with their experience, resources and reputation, will support Vietnam in accessing shifting investment sources, green and sustainable financial sources such as the "Asian Zero Emission Community" (AZEC) and investment sources for science, technology, innovation, etc. of the Japanese Government.

Emphasizing that Vietnam advocates cooperation and selective foreign investment attraction, aiming for quality, efficiency, high technology and environmental protection, the Prime Minister suggested that Japanese enterprises increase investment in industries and fields that have strengths and that Vietnam encourages, such as green economy, digital economy, circular economy, knowledge economy, etc.

Along with that, the two sides continue to strengthen cooperation to consolidate supply chains, develop supporting industries, build a highly skilled workforce, and ensure stable production activities for the benefit of both sides in a diverse, transparent, and sustainable manner.

The Prime Minister asked the Japanese Government and businesses to continue to pay attention to and promote the rapid implementation of key cooperation projects, especially in the high-tech field, which are symbolic in the relationship between the two countries, typically the cooperation project to launch satellites into orbit in 2025.

The Prime Minister also asked Japanese investors to continue supporting and creating conditions for Vietnamese enterprises to participate more deeply and substantially in global supply chains; helping Vietnamese enterprises diversify markets, products and supply chains.

Along with that, Japan will increase the new generation of ODA, expand it, increase the scale, simplify procedures, and create favorable conditions for faster disbursement. At the same time, the Prime Minister hopes that Japanese enterprises will make decisions faster and coordinate with Vietnam to harmonize procedures.

On the other hand, the Prime Minister said that the Vietnamese Government committed to "3 guarantees" with the Japanese business community and investors.

The "3 guarantees" include: Ensuring that the foreign-invested economic sector is an important component of Vietnam's economy; ensuring the legitimate and legal rights and interests of investors; ensuring political stability, social order and safety; and institutions, mechanisms and policies to attract investment.

At the same time, with the spirit of harmonious benefits and shared risks, the Vietnamese side wishes to implement "3 together", including: Listening and understanding between enterprises, the State and the people; sharing vision and action to cooperate and support each other to develop quickly and sustainably; working together, winning together, enjoying together, developing together, sharing joy, happiness and pride.

Source: https://www.baogiaothong.vn/thu-tuong-viet-nam-cam-ket-3-bao-dam-voi-doanh-nghiep-nha-dau-tu-nhat-ban-192250301201329071.htm