Vinh Phuc in connecting cooperation and development between Vietnam and Japan

Attending the conference were Comrade Bui Thanh Son, Member of the Party Central Committee, Minister of Foreign Affairs; Mr. Yamada Takio, Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam; representatives of Japanese investment and trade promotion agencies in Vietnam; representatives of some Japanese localities, Japanese enterprises in Vinh Phuc and Vietnam.

Vinh Phuc province has comrades: Hoang Thi Thuy Lan, member of the Party Central Committee, Secretary of the Provincial Party Committee, Chairwoman of the Provincial People’s Council, Head of the Provincial National Assembly Delegation; Le Duy Thanh, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Committee; comrades of the Standing Committee of the Provincial Party Committee, Vice Chairmen of the Provincial People’s Council and People’s Committee; leaders of departments, branches, and enterprises in the province.

Speaking at the opening of the conference, Secretary of the Provincial Party Committee Hoang Thi Thuy Lan affirmed that in the development process, Vinh Phuc province always considers Japanese localities and enterprises as the leading important partners, the pillars in the international integration strategy. Vinh Phuc has had a long time to establish cooperative relationships with Japanese localities, especially since 1995, when Toyota Group and Honda Group of Japan invested in Vinh Phuc, creating a strong development in the cooperative relationship between Vinh Phuc and Japanese localities and enterprises. On the basis of economic cooperation, that cooperative relationship has so far been expanded in many fields and is increasingly developing well.

Vinh Phuc province highly appreciates the quality and effectiveness of Japanese projects. Japan’s foreign direct investment (FDI) and official development assistance (ODA) projects in Vinh Phuc in recent years have made positive contributions to the province’s socio-economic development, serving as the foundation for building a strong relationship between Vinh Phuc and Japanese localities and enterprises. By the end of May 2022, the province had 435 FDI projects from 20 countries and territories with a total registered investment capital of 7.33 billion USD. Of which, Japan had 59 projects with a total registered capital of 1.62 billion USD.

With the viewpoint that “Investors investing in Vinh Phuc are citizens of the province, the success of enterprises is the success of the province”, Vinh Phuc province always creates favorable conditions, makes efforts to solve difficulties for Japanese enterprises and always welcomes Japanese enterprises to invest and do business in Vinh Phuc.

The Provincial Party Secretary also requested the Japanese Embassy in Vietnam, Japanese investment and trade promotion agencies in Vietnam, the Japan Business Association in Vietnam and Japanese enterprises currently operating in Vinh Phuc to propose initiatives to promote cooperation and development and make necessary recommendations to the provincial authorities to focus on supporting and resolving difficulties of enterprises in order to improve the province’s investment and business environment, increase investment attraction, contribute to economic growth and budget revenue of Vinh Phuc, create more jobs, fulfill commitments on environmental protection and positively impact local cultural and social development.

Speaking at the conference, Minister of Foreign Affairs Bui Thanh Son emphasized that, towards the 50th anniversary of the establishment of diplomatic relations between Vietnam and Japan in 2023, this event is a vivid demonstration of the substantive, effective and practical cooperation relationship, helping to open a new and deeper development stage between Vinh Phuc province and Japanese partners. With a pioneering, accompanying and supporting role, the Ministry of Foreign Affairs will help provinces and cities, including Vinh Phuc province, orient strategies, provide policy advice, and promptly provide information on opportunities to promote economic – trade – investment cooperation, science – technology and other fields with international partners, including Japan. Minister of Foreign Affairs Bui Thanh Son hopes that after this conference, Vinh Phuc province will open up, expand and deepen relations with Japanese partners, contributing to fostering the sincere – affectionate – trustworthy relationship between Vietnam and Japan.

Mr. Yamada Takio, Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam, thanked and highly appreciated the Ministry of Foreign Affairs and Vinh Phuc province for organizing the conference; affirmed that the relationship between Vietnam and Japan is a substantive and strategic relationship in the fields of politics, security, economy, culture and society.

Considering that geographical position is a strength and business attraction policy is the highlight for Vinh Phuc to become an ideal destination for businesses, Mr. Yamada Takio highly appreciated Vinh Phuc’s efforts in supporting businesses investing in the area.

Through this conference, Mr. Yamada Takio hopes that Japanese enterprises will continue to promote the image of Vinh Phuc so that more and more Japanese enterprises will invest in Vinh Phuc. Mr. Yamada Takio affirmed that the Japanese Embassy will be a bridge and make every effort to continuously develop the relationship between Japan and Vietnam in general, and between Japanese enterprises and localities with Vinh Phuc in particular.

The conference held a discussion session with speeches from the Governors of Akita and Tochigi provinces, Japan; leaders of the Foreign Investment Agency, Ministry of Planning and Investment; leaders of the Vietnam Federation of Industry and Commerce (VCCI); Chief Representative of JETRO; representatives of a number of Japanese corporations and enterprises such as Sumitomo, Sojitz, Toyota, Honda, focusing on the following contents: Vinh Phuc strengthens international integration, promotes foreign economic relations, investment potential and advantages and accompanies businesses; potential, strengths, needs and cooperation orientation between Vinh Phuc province and Akita and Tochigi provinces, Japan; opportunities and challenges for Vietnam and Vinh Phuc; investment trends of Japanese enterprises and prospects of Vinh Phuc; differences and attractiveness of the investment environment of Vinh Phuc province… At the same time, time was spent discussing the investment and business environment in Vinh Phuc.

Within the framework of the conference, Vinh Phuc Provincial People’s Committee and Japan External Trade Organization (JETRO) signed a Memorandum of Understanding on cooperation in the field of investment promotion./.