The Vietnam-Japan Joint Initiative to improve the investment environment and increase the competitiveness of the Vietnamese economy has basically attained its objectives.
The Vietnam-Japan Joint Initiative was launched by the Prime Ministers of the two countries in April 2003. Over three phases, most objectives of bilateral cooperation have been implemented on schedule. A series of business environment barriers have been lifted, significantly improving the investment environment and promoting foreign investments, especially from Japan.
The fourth phase of the Joint Initiative was signed in Hanoi on July 1, 2011 lasting until the end of 2012, with 70 points focusing on three main areas: macro economic stability, energy and human resource quality. Retail sales and public-private partnerships (PPP) are two new points in this phase.
According to Mr Yasuaki Tanizaki, Japanese Ambassador to Vietnam, the objective of Phase 4 of the Initiative is to increase the efforts of both Vietnam and Japan to improve the investment environment for Japanese businesses in Vietnam.
“I do hope that Vietnam's business environment will be improved in the next two years, a most important period before Vietnam-China tariffs are lifted in 2015, and ASEAN free trade area in 2018. The next two years are important for Vietnam to improve its business environment and prepare for the new phases,” Mr Yasuaki Tanizaki said.
According to the Japanese Ambassador, retail sales and PPP are new points in the fourth phase. Retail sales in the Vietnamese market are most promising and Japanese businesses have special interest in related legal provisions in Vietnam.
Regarding PPP, Vietnam is experimenting with related cooperation mechanisms. In fact, some projects have been implemented under this form. Therefore, the Japanese side believes that if it is included in Vietnam-Japan Joint Initiative, Japanese businesses will have more opportunities in cooperation with Vietnamese ministries and agencies.
Mr Yasuaki Tanizaki also emphasized that Vietnam-Japan relations are developing and should maintain momentum in the coming years to improve the investment environment in Vietnam and promote cooperation and investment between Vietnam and Japan.
The two sides also call for investments from third countries and to increase bilateral trade value to the maximum. In particular, Japan will focus on infrastructure development and Energy Phase 7 in Vietnam.
Representing the Vietnamese side to sign Joint Initiative Phase IV, former Minister of Planning and Investment Vo Hong Phuc said that the Vietnamese Government paid special attention to such areas as energy, customs, macro-economic stability, intellectual property, food safety and infrastructure development, and made great efforts to improve the business and investment environment.
According to Mr Phuc, the Vietnamese government has set the goal of macro-economic stability by early 2012. Phase IV of the Joint Initiative will contribute to the improvement of the investment environment in Vietnam, including both soft (policies and institutions for macro-economic stability) and hard (infrastructure, power supply, etc.) factors. These are the main supports to Vietnam by foreign investors and Japanese investors in particular.
In the course of implementation, experts of related projects and programmes will together work out specific plans, exchange technical experience, update information, consult and remove possible constraints.
Mai Anh
Vietnamese
