Warming up Vietnam-Japan Joint Initiative Action Plan 3

At the ceremony, Vietnam and Japan have come to consensus to open an office named “Japan Desk” located in the MPI of Vietnam, which plays the key role in exchanging investment information, assisting Japanese businesses in implementing the Initiative 3.

 

The contents of signed documents consist of further perfecting operations of boards of directors in joint venture companies in Vietnam; perfecting calculation of corporate income tax; establish harmonious relation between employees and employers; improve transport system, including road network in Vietnam to help develop trade; guarantee intellectual property right; develop supporting industries in Vietnam; and further expand power sources.

 

Vietnam and Japan will form a task force of developing supporting industries by the end of November. "This is a necessary job to strengthen international competitiveness of Vietnam", Ambassador Mitsuo expressed his idea. He added that many Japanese enterprises were affected by the global financial crisis. However, the starting of Vietnam-Japan Initiative 3 would be an impetus and attract more investments from Japan to Vietnam.

 

In a talk with the press after the signing ceremony, Japanese Ambassador Sakaba Mitsuo said the Initiative showed the big concern about workers' living standard and infrastructure at industrial parks. Most industrial parks are located far from big urban centres, thus upgradation of infrastructure and living environment around industrial parks is crucial. In addition, the Initiative 3 also focuses on discussing issues that need addressing soon such as solutions for spontaneous strikes, food sanitary and improvement of goods circulation and distribution.

 

Mr Mitsuo added that suggestions by Japanese representatives mainly concentrated on tax policies and intellectual property right, simplifying customs, circulation and distribution procedures, intensifying protection of intellectual property right, and investing in infrastructure (electricity, transport, and telecommunications).

It is known that the MPI held the meeting "Evaluating and Summarising the Vietnam-Japan Joint Initiative 2" on November 9.

 

The Initiative was suggested by the two Governments in 2003 in order to improve the investment environment and raise competitiveness of Vietnam. In the first phase from December, 2003 to December, 2005, Vietnam fulfilled 84 per cent of items in the action plan. In the second phase from July, 2006 to November, 2007, Vietnam completed 93 per cent of the plan.

 

Minister of Planning and Investment Vo Hong Phuc said: "The two Governments have the joint assessment of the performance of the second phase from June, 2006 until now. I think that agreed solutions have helped to improve the investment environment in Vietnam. Investment flows from Japan to Vietnam also grow that help attract investments from other regions in the world to Vietnam. This is the important outcome of the Initiative."

 

However, Mr Phuc stated that there were two points of disagreement, namely import of second-hand cars and list of conditional imported and exported articles.