The Vietnam-Japan Techno Park is to be set up at the Hanoi Southern Supporting Industrial Park to help Vietnamese and Japanese enterprises coordinate in producing high-tech industrial supporting products.

It is also expected to help Vietnamese businesses to take part in Japan’s global production chains.

The Park will be established under an agreement between the Hanoi Supporting Industry Business Association and local companies and Japanese partners from the Kobe Aero Network (KAN) in Kobe, Japan, on February 20.

They discussed development cooperation, investment in and the manufacture of electric and mechanical equipment for the aerospace industry, as well as training for technical engineers and technology transfer.

Addressing the signing ceremony, Deputy Chairman of the Hanoi People’s Committee Nguyen Manh Quyen said Hanoi plans to develop an additional 15 industrial parks in the future.

Vietnam’s capital is willing to create favorable conditions to attract foreign investors, particularly Japanese businesses, he added.

The number of projects in Vietnam invested in by Japanese investors rose 23.3 per cent in 2023.