Many Japanese businesses want to expand production in Vietnam or relocate production to the country, according to the CEO of the Sojitz Corporation Fujimoto Masayoshi.

The corporation has 17 joint ventures in Vietnam and earns revenue of an estimated $1 billion each year.

Speaking at a meeting on May 19 with Prime Minister Pham Minh Chinh in Hiroshima, Japan, on the occasion of the government leader attending the expanded G7 Summit, Mr. Masayoshi said Sojitz has committed to strong and long-term investment in Vietnam.

Prime Minister Chinh asked Sojitz to work closely with the Ministry of Planning and Investment and relevant localities to address any difficulties and obstacles during the implementation of projects, and to create favorable conditions for Vietnamese enterprises, especially small and medium-sized enterprises (SMEs), to join Sojitz’s supply chain.

On May 20, he received executives from several major Japanese corporations, including Representative Executive Director of the AEON Co. Ltd Yoshida Akio, CEO of the Satake Corporation Kazuhisa Matsumoko, and Chairman of the Balcom Corporation Yamasaka Tetsuro.