Hanoi:General Secretary and President To Lam's recent visit to Japan has been highlighted as a significant opportunity to present a "New Viet Nam" to Japanese companies, fostering a new phase in the Japan-Viet Nam relationship, according to JETRO Ho Chi Minh Chief Representative Okabe Mitsutoshi.

According to Socialist Republic of Vietnam Government News, the visit aligns with the Politburo's Resolution No. 10-NQ/TW issued in June, which outlines policy directions for attracting high-quality foreign investment. This initiative is part of Viet Nam's ongoing efforts to deepen its economic ties with Japan, which were elevated to a Comprehensive Strategic Partnership in 2023. Currently, more than 2,100 Japanese companies operate in Viet Nam, benefiting from the combination of Japan's technological expertise and Viet Nam's growth potential and skilled workforce.

JETRO anticipates the development of new partnerships in fields like science and technology, innovation, and digital transformation, where the Vietnamese Government is actively promoting collaboration. Opportunities in AI, digital technology, green growth, and sustainability are particularly promising for joint ventures between the two nations.

Viet Nam's large pool of IT professionals and Japan's advanced technology could lead to significant advancements in AI development and digital services. Additionally, cooperation on energy efficiency, decarbonization, and carbon neutrality could further strengthen the bilateral partnership.

The country's economic growth, political and social stability, and a young, skilled workforce contribute to its attractiveness as an investment destination for Japanese businesses. The close cultural and professional ties between the two countries further enhance this appeal, with many Vietnamese professionals gaining experience in Japan and assuming leadership roles in Viet Nam.

JETRO's surveys indicate that Japanese companies remain optimistic about Viet Nam's business prospects. Recent Vietnamese government resolutions promoting private sector development and foreign investment, along with administrative reforms and infrastructure advancements, are expected to boost the business environment and competitiveness. These developments position Viet Nam as a promising market and a key destination for Japanese business expansion and investment.

Source Socialist Republic of Vietnam Government News