Cooperation with Tokyo Gas is important: Prime Minister

NDO/VNA – Prime Minister Nguyen Xuan Phuc stated that cooperation with Tokyo Gas Co Ltd is very important as oil and gas cooperation is one of the top priorities in Vietnam-Japan economic ties. He called on Tokyo Gas to run long-term business in Vietnam during his reception for the company’s President Michiaki Hirose in Hanoi on August 15. The leader noted that the Vietnamese Government always pays attention to and protects legitimate rights of foreign investors. He also highlighted that the Vietnamese Government’s views on developing the gas industry comprehensively and effectively by maximizing domestic resources and intensifying international cooperation. He lauded Tokyo Gas’s opening of its representative office in Vietnam and congratulated the company and PetroVietnam Gas Joint Stock Corporation (PV Gas) on the establishment of a liquefied natural gas (LNG) joint venture in Vietnam. Emphasing the large demand for environmentally friendly LNG in Vietnam and many other countries, PM Phuc expressed his belief that with good partners and with a favourable business environment, Tokyo Gas will gain successes in Vietnam. He suggested that Tokyo Gas should have working sessions with PV Gas and the Vietnamese Ministry of Industry and Trade if the company encounters any difficulty while investing in LNG, especially the Thi Vai LNG warehouse project in Cai Mep Industrial Zone in the southern province of Ba Ria-Vung Tau. In reply, Michiaki Hirose stated that both Vietnam and Japan have favorable conditions to develop the LNG market. Vietnam is an…... [read more]

NDO/VNA – Prime Minister Nguyen Xuan Phuc stated that cooperation with Tokyo Gas Co Ltd is very important as oil and gas cooperation is one of the top priorities in Vietnam-Japan economic ties. He called on Tokyo Gas to run long-term business in Vietnam during his reception for the company’s President Michiaki Hirose in Hanoi on August 15. The leader noted that the Vietnamese Government always pays attention to and protects legitimate rights of foreign investors. He also highlighted that the Vietnamese Government’s views on developing the gas industry comprehensively and effectively by maximizing domestic resources and intensifying international cooperation. He lauded Tokyo Gas’s opening of its representative office in Vietnam and congratulated the company and PetroVietnam Gas Joint Stock Corporation (PV Gas) on the establishment of a liquefied natural gas (LNG) joint venture in Vietnam. Emphasing the large demand for environmentally friendly LNG in Vietnam and many other countries, PM Phuc expressed his belief that with good partners and with a favourable business environment, Tokyo Gas will gain successes in Vietnam. He suggested that Tokyo Gas should have working sessions with PV Gas and the Vietnamese Ministry of Industry and Trade if the company encounters any difficulty while investing in LNG, especially the Thi Vai LNG warehouse project in Cai Mep Industrial Zone in the southern province of Ba Ria-Vung Tau. In reply, Michiaki Hirose stated that both Vietnam and Japan have favorable conditions to develop the LNG market. Vietnam is an…... [read more]

The Vietnamese Ambassador to Japan, Nguyen Phu Binh, made this remark at the first congress of the Japan-Vietnam Parliamentary Friendship League of Aichi prefecture on March 24. Binh highlighted recent milestones in Vietnam-Japan relations, particularly last year’s celebrations of the 35th anniversary of the establishment of diplomatic ties and Japanese Crown Prince Naruhito’s official visit to Vietnam in February 2009. The ambassador said both Vietnam and Japan are confronting difficulties due to the ongoing global economic crisis. Therefore, strengthening cooperation between the two countries will help to overcome challenges and create a sustainable foundation for their bilateral relationship. He told the participants that Vietnam-Japan economic ties are not only the inter-government relations, but also the bonds between the two nations’ business circles, including small and medium-sized enterprises. “I hope that Japanese small and medium-sized enterprises will help Vietnam develop its supporting and hi-tech industries,” Binh stressed. The diplomat noted that a large number of Japanese businesses, including those from Aichi prefecture, are making profits in Vietnam although the Japanese economy is plunging into recession. Binh also applauded a recent visit to Vietnam by a delegation from the Japan-Vietnam Parliamentary Friendship League of Aichi Prefecture as well as the opening of direct flights linking Hanoi and Aichi’s capital city of Nagoya last year, expecting that Vietnam Airlines and Japan Airlines will open more direct air routes between the two countries. The President of Aichi’s Japan-Vietnam Parliamentary Friendship League, Kurati Toshihiko, expressed hope that the league’s activities will contribute to promoting friendly…... [read more]

Vietnam asks for Japan’s assistance in judicial sector Japan pledges more aid for development Hiromasa Yonekura, President of the Japan Business Federation "Nippon Keidanren”, affirmed this in Tokyo on July 5 during his talks with Deputy Prime Minister Nguyen Xuan Phuc, who is currently visiting Japan. Yonekura recalled his March visit to Vietnam where he met State President Truong Tan Sang and both sides agreed to further strengthen cooperation in infrastructure development and mining. He said he hopes that Japanese businesses will gain a better understanding of Vietnam’s economic development needs through Phuc’s visit. Phuc praised Japan’s efforts to overcome the consequences of the March 2011 earthquake and tsunami and said that Vietnam is willing to help the country get through this difficult period quickly. The deputy PM said that in the face of the global economic downturn, Vietnam has no choice, but to restructure its economic, financial and monetary institutions, and also complete its legal system. In the medium and long-term, he said the Vietnamese Government will focus on managing the economy effectively, training human resources and developing infrastructure. It is devising an industrial development strategy until 2020 and paying more attention to the public-private partnership model to make it more efficient. Phuc asserted that Vietnam always creates the best possible conditions for Japanese businesses to operate successfully in Vietnam. He urged Nippon Keidanren to boost cooperation and investment in Vietnam and actively take part in the 2013 Vietnam-Japan Friendship Year to mark the 40th anniversary of bilateral diplomatic…... [read more]

Vietnam-Japan Cultural Day to open in HCM City Promoting Vietnam-Japan economic ties The suggestion was made by Tadashi Maeda, managing director of Tokyo-based Global Infrastructure Finance Group, at a meeting with leaders of HCM City People’s Committee on July 12. Tadashi Maeda said the joint venture will provide investment consultancy services and call on international investors to invest in the city. The two sides discussed JBIC’s incentive loans for infrastructure projects in HCM City and agreed to speed up the implementation of ongoing projects. HCM City Mayor Le Hoang Quan expressed thanks for Japan’s valuable assistance, saying it has greatly contributed to the development of Vietnam in general and HCM City in particular.... [read more]

The Chief Representative of the Japan External Trade Organization (JETRO) in Hanoi, Atsusuke Kawada, was recently quoted as saying that “Vietnam-Japan relations are continuing to prosper with Japan’s investment capital increasing steadily in recent years”. He suggested that State President Truong Tan Sang’s upcoming visit to Japan will provide an opportunity for Japan and Vietnam to discuss enhancement of the country’s investment in Vietnam and seek increased cooperation on a number of fronts. Japan – largest ODA provider for Vietnam Twenty years ago, Japan was the vanguard of countries resuming overseas direct assistance (ODA) for Vietnam. Japan also provided a wealth of assistance to the Vietnamese Government that positively impacted economic development and played a vitally important role in poverty reduction. Through the construction of infrastructure such as roads, railways, power plants and ports, Japan’s ODA sources have helped attract more foreign investment in Vietnam, generate jobs, promote trade and contribute to a more vibrant socio-economic development. Over the past 20 years, Japan has been Vietnam’s largest ODA provider, making up 30% of all donors’ cumulative capital. From 1992 to March 31, 2013, Japan committed US$24 billion in ODA to Vietnam. Japan provided US$2.8 billion in ODA loans to Vietnam in the fiscal year 2011 and about US$2.03 billion in the fiscal year 2012. At a recent press conference, Mori Mutsuya, Chief Representative of Japan International Cooperation Agency (JICA) Vietnam Office, said that in 2014, Japan will provide at least over US$2 billion in ODA to Vietnam, an equivalent figure…... [read more]

Making Hay While The Sun Shines Reported by Trung Chau Mr. Yoshida Sakae, managing director of the Japan External Trade Organization (JETRO) in HCM City, talks with the Weekly about opportunities for Japanese companies to invest more in Vietnam as well as the win-win relationship of Vietnam-Japan economic ties Q: It has been said that Japan’s international banks in Vietnam save billions of dollars on loans for Japanese investors to invest or expand business in the country. What could you say about that? A: I do not know the exact figures. But, as far as I know Mizuho Bank has increased its capital at two branches in HCM City and Hanoi by around US$200 million. At the same time, Sumitomo Mitsui Bank has also increased its capital in Vietnam by US$400 million. The increase is, of course, to strengthen their support for new and existing Japanese companies in Vietnam. What are your thoughts about the projection that there will be a new wave of Japanese investment in Vietnam, especially in the forms of mergers and acquisitions (M&A) and trading thanks to recent moves by banks? I do not think it is a new wave. It is just a time for business extension for almost Japanese investors here. So far, the Japanese have invested in Vietnam by establishing factories, shops, trading, services and insurance. In the near future, the investment trend for Japanese companies in Vietnam will be like in recent years. There are also more M&A contracts, but it cannot…... [read more]

The Trans-Pacific Partnership (TPP) agreement is expected to help Vietnam and Japan move forward with win-win economic cooperation, specifically in the fields of support industry and agriculture, said Deputy Prime Minister Hoang Trung Hai. Vietnam hopes the Japanese Government and business community will continue to make investments in Vietnam, particularly in electronics, agricultural machines, agro-forestry processing, shipbuilding, environment, energy saving, and automobile spare parts manufacturing, Hai was speaking at a forum in Hanoi on October 14. He affirmed that the Vietnamese Government pledges to work closely with the Japanese side to improve business environment in order to make the country an attractive market for businesses in the future. According to a representative from the Japan External Trade Organisation (JETRO), the rate of using locally-produced components in Vietnam is now about 33 percent, compared to 55 percent and 43 percent in Thailand and Indonesia, respectively. To become a manufacturer and supplier of spare parts for foreign countries, it is imperative for Vietnam to develop support industry and small-and medium-sized enterprises (SMEs), he noted. JETRO will implement business connectivity between the two countries and introduce the latest agricultural technologies of Japan to Vietnamese partners, he added. The organisation revealed that among 521 Japanese SMEs wishing to invest in emerging markets, up to 130 companies want to pour cash into Vietnam. President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said the agency will actively work with JETRO and the Japanese Embassy in Vietnam to facilitate business cooperation between…... [read more]

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The Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) and the Japan External Trade Organization (JETRO) reached a deal to establish the Vietnam-Japan Supporting Industry Forum (VIETPANSIF) at a conference in the southern city on Friday. The forum was founded to create an official channel for mutual support between the relevant agencies of governments, educational institutions and business connections to promote bilateral development in supporting industries in Vietnam. It will hold quarterly periodical events to connect and create an exchange for local businesses operating in the field. The forum will also proactively make policy recommendations through empirical research on supporting industries in Vietnam and activities organized by the government and enterprises of the two countries in the training of human resources, attracting investment, and transferring technologies. On the occasion, Hirotaka Yasuzumi, director of the JETRO branch in HCMC, also proposed three new solutions to supporting industrial development in Vietnam. They include preferential loans for investors in supporting industries, improvement in human resource training at vocational colleges so that the newly trained laborers can be qualified to handle new transferred technologies, and the need to develop strategies with the right incentives for the long-term development of supporting industries. "The forum's establishment aims at facilitating cooperation and mutual assistance between government agencies in charge of supporting the business circles of both countries toward promoting the development of the supporting industry in Vietnam in particular and Vietnam-Japan economic ties in general," the Vietnam News Agency quoted Vu Van Hoa, HEPZA…... [read more]




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