Vietnam and Japan agreed to boost future-oriented industries such as semiconductors, AI, space, and biotechnology during the sixth meeting of the Vietnam - Japan Joint Committee for industrial, trade and energy cooperation held in Hanoi on November 3.

Minister of Industry and Trade Nguyen Hong Dien and Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi agreed to establish a joint working group between their ministries to accelerate co-creation projects to develop these industries.

They also discussed ways to promote bilateral cooperation in fostering trade and investment, enhancing supply chain resilience, developing the digital economy, and boosting renewable energy and low-carbon emissions.

They agreed to work closely to tackle obstacles in certain energy projects that Japanese investors are taking part in, and will promote partnerships in biomass energy, offshore wind power, and rare earth development.

The two ministers agreed to seek measures to increase bilateral trade, develop e-commerce and the digital economy, open their countries’ markets to each other’s agricultural products, and conduct more activities to create opportunities for businesses to increase trade and investment.

Minister Dien proposed that the Japanese Ministry create favorable conditions for and encourage more Japanese businesses to shift their investments and supply chains to Vietnam, especially in key and supporting industries.