Cooperation Broadened between Vietnamese and Japanese Businesses

 

After nearly 40 years of diplomatic relations, Japan has become a major partnerof Vietnam in various fields: politics, economy, trade, investment and tourism. In 2009, Vietnam and Japan upgraded their relations to a strategic partnership for peace and prosperity in Asia.         

In recent years, Japan has become the third biggest trade partner and the second biggest export market of Vietnam. In 2011, bilateral trade value was over US$21 billion, with Vietnamese export worth nearly US$11 billion, 39 percent more than the previous year. In the first 7 months of 2012, the two-way trade increased to over US$14 billion; with Vietnamese export value of over US$7 billion and import from Japanese market of over US$6 billion. In the same period, crude oil was the biggest export item to Japan, making up over US$1.6 billion and 21.6 percent of the total export value, with garments second, worth US$1.05 billion and 13.9 percent.

In particular, Japanese FDI enterprises have always maintained stable and fast growth, making up over 50 percent of Vietnamese total export value to Japan. It shows the success of Japanese businesses in Vietnam. So far, Vietnam and Japan have signed many agreements serving as a legal framework for the promotion of bilateral cooperation in economy, trade, investment and tourism.           

Japan is the leading investor in Vietnam with total investment capital of US$28 billion and some 1,700 projects.

 

In particular, Japan is one of the biggest donors of ODA to Vietnam. Japanese ODA focuses on five fundamental areas: human resources and institution development, building and upgrading communication and energy projects, agriculture and rural development, education and public health, and environment protection.

 

In the past years, VCCI has promoted cooperation and partnership with Japanese businesses, especially with the establishment of the Vietnam-Japan Business Forum, could you elaborate further on such cooperation?

In the past years, VCCI has developed close and fruitful cooperation with leading Japanese economic institutions such as JETRO, Nippon Keidaren, JCCI and local chambers of commerce, Keizai Doyukai. It has also signed cooperation agreements with Japanese organizations, namely the Japan Chamber of Commerce and Industry, Kansai Economic Federation, Hiroshima Chamber of Commerce and Industry, Osaka Chamber of Commerce and Industry, etc.

 

With the approval of the Vietnamese government and in an effort to promote trade, investment and tourism and develop a channel between business communities of the two countries, in 2007, VCCI established the Vietnam-Japan Business Forum, presided over by Mr Dang Thanh Tam, Chairman of SaigonInvest Group. The Forum also serves as official channel for businesses of the two countries to advise the governments on improvement of business environment and economic cooperation. The Forum has launched its trade and investment website http://vinajapan.com. Since its establishment, the Forum has promoted more effective and fruitful bilateral business activities.    

In 2012, VCCI in conjunction with Japanese partners organized several activities promoting cooperation between the two business communities, including seminar and meeting between Vietnamese and Fukuoka businesses on January 18 in Hanoi. The meeting attracted a large number of businesses and investors. Businesses of the two countries were presented with insights of trade and economic cooperation between Vietnam and Japan. The meeting offered ample opportunities for the exchange of information on business cooperation. Participating on the Japanese side were six principal companies on industrial environment, electricity, energy and construction.

 

In addition, VCCI has arranged a working programmefor a delegation from Nemuro City, Hokhaido and co-sponsored a party on February 3 in Hanoi for Vietnamese and Japanese businesses engaging in trade, processing and import-export of aqua-products. The party was attended by some 50 representatives of companies and the Japanese Ambassador to Vietnam, manifesting the close cooperation between the two business communities.

VCCI has organized several business meetings such as Vietnam-Japan (Okayama) Business Meeting on February 29 in Hanoi with the participation of Mr. Kazumi Oshahi, President of Okayama International Cultural Exchange Association and 15 members from six Japanese businesses; Seminar on IPO registration and corporate trade (M&A) on March 5 in Hanoi and on March 7 in Ho Chi Minh City; Workshop on “Business Strategy of Sumitomo” on April 20 in Hanoi, the third lecture in four years and the last in the series co-sponsored by VCCI and Sumitomo at National University of Economics.

 

In particular, to help Vietnamese business leaders access knowledge and entrepreneurship of Japanese managers as well as expertise meeting the challenges in trade, economy, finance and human resources, VCCI Economic Information Centre has organized a study tour in Japan for Vietnamese entrepreneurs on “Business Management in Japanese style – Session V” with leading lecturers from major Japanese enterprises. During the trip, Vietnamese entrepreneurs met with Japanese counterparts at the meetings sponsored by Tokyo Chamber of Commerce, Sakai Chamber of Commerce and Akinai Research Institute. Vietnamese visitors had also the chance to meet with their partners and introduce their business activities on Fuji Sankei Business Eye magazine, the fifth biggest mass media group in Japan.

 

To promote Japanese trade and investment in Vietnam, VCCI and The Japan-Vietnam Association will organize an economic seminar “Vietnam-Japan Friendship” on September 13, 2012 in Hanoi with some 150 participants including 50 Japanese entrepreneurs seeking business opportunities in Vietnam.

 

More important still, from September 23-26, 2012, President of the Japanese Chamber of Commerce and Industry (JCCI) Tadashi Okamura will lead a 120-member delegation from 100 companies to visit and seek business opportunities in Vietnam in such areas as trade, electronics, software, finance-banking, telecommunication, manufacturing, mining, construction, transport, agriculture, gas, pharmaceuticals, etc. On the same occasion, VCCI and JCCI will sponsor “Dialogue between Vietnamese and Japanese Business Communities” on September 24, 2012 in Hanoi.         

In the framework of cooperation between VCCI and Fukuoka Division of Industry and Trade, a study tour on supporting industries will be organizedfor Vietnamese businesses from October 27 to November 7 in Nogata and Fukuoka. Accordingly, Vietnamese businesses will have the chance to study Japanese production and management skills in supporting industries. On this occasion, VCCI and Japanese partners will organize a business forum to promote bilateral cooperation in the field.