Bilateral relations between Vietnam and Japan have opened up many cooperative opportunities for the businesses of both, Prime Minister Pham Minh Chinh told the Vietnam - Tochigi Economic Forum, organized by the Tochigi Prefectural Government, the Ministry of Planning and Investment, and the Vietnamese Embassy in Japan on November 23 in Tochigi, during the Prime Minister’s visit to Japan.

Japan is currently the largest provider of ODA to Vietnam, with some $27 billion, the second-largest FDI partner, with $64 billion in total, the third-largest tourist source, and the fourth-largest trading partner, with two-way turnover of about $40 billion a year.

The Prime Minister also emphasized that Vietnam’s advantages in attracting investment include political stability, the strong implementation of strategic breakthroughs in institutional improvements and administrative reform, improvements to human resources quality, and infrastructure development.

Representatives from ten localities in Vietnam, leading enterprises in Tochigi prefecture, and Vietnamese enterprises also attended the forum.
Business representatives in Tochigi spoke of their strengths in fields such as high-tech agriculture, processing and manufacturing, and electronics, which have been prioritized by Vietnam. The businesses also appreciate Vietnam’s improving business and investment environment.

The Prime Minister affirmed that the Vietnamese Government is committed to accompanying businesses and creating favorable conditions for those in Tochigi prefecture in particular and in Japan in general to invest in Vietnam, especially in fields such as digital transformation, infrastructure development, human resources training, innovation, sustainable development, and climate change response.

“I hope you come to Vietnam to confirm what I have told you,” he said. “The most important thing is that we have mutual trust, understanding, and respect, to cooperate in a spirit of harmonizing benefits and sharing risks.”