Prime Minister Pham Minh Chinh has called on Japanese businesses to increase their investment in Vietnam in the fields of support industry, electronic spare parts, electric vehicles, science, technology and innovation, the green economy, and renewable energy.

Addressing the Vietnam-Japan Business Dialogue in Japan on May 21, the Prime Minister proposed that Japan actively cooperate and support Vietnam in all fields, including in regard to institutions, capital, technology, human resources, and administration as well as in accelerating study and development activities and joining regional and global supply chains and value chains.

He emphasized that the Vietnamese Government accompanies, supports, and create favorable conditions for foreign investors, including those from Japan, to successfully and sustainably carry out their investments.

Japan is currently the largest official development assistance (ODA) provider to Vietnam and its fourth-largest trade partner.

It has more than 5,000 investment projects in Vietnam with total capital of over $70 billion, making it the third-largest among 143 countries and territories investing in Vietnam.

Two-way trade turnover reached nearly $50 billion in 2022.