For the past years, Japan and Vietnam have dramatically strengthened economic, political and social ties based on our Extensive Strategic Partnership for Peace and Prosperity in Asia.
One of the most important recent events for the two countries was Prime Minister Yoshihide Suga’s visit to Vietnam last October. He chose Vietnam as the destination for his first overseas trip as prime minister after taking office. This demonstrated the degree of importance Japan attaches to Vietnam and the enhanced mutual trust and confidence between the countries.
For Japanese manufacturing firms, Vietnam is now the most popular destination for foreign direct investment among members of the Association of Southeast Asian Nations, according to a survey conducted by the Japan Bank for International Cooperation. Despite the COVID-19 pandemic, the popularity of Vietnam remains unchanged due to its quality labor, improved infrastructure and political stability. Hoping Vietnam can effectively control the spread of the novel coronavirus, Japan has provided approximately 3 million doses of vaccine. Japan is committed to continuing support for Vietnam to fight the pandemic.
It is also noteworthy that the number of Vietnamese youngsters who visit and stay in Japan as technical trainees, students and employees has climbed dramatically over the past decade. Those youngsters have already become an essential part of the Japanese economy and society and are hoped to act as bridges to bring our people even closer together.
In 2023, Japan and Vietnam will celebrate the 50th anniversary of the establishment of diplomatic relations. It is expected that a lot of events and opportunities will be organized to look back on the past 50 years as well as to look forward to the next 50 so we can further enhance our friendly ties as our two peoples look to the future.
Supporting insights on Japanese investments in Vietnam
“Many companies investing in Vietnam today are helping to improve the country’s supply chain capabilities: In
2020, Vietnam’s FDI stock stood at $177 billion.” — Masataka Fujita, former Secretary-General, ASEAN-Japan Centre
“Our data from last year shows that 47 percent of Japanese companies in Vietnam intended to expand their business while only 6 percent said they would shrink or close operations.” — Takeo Nakajima, Chief Representative, Japan External Trade Organization Hanoi
Read the full report here: https://bit.ly/VNJP-bridges
