VCCI, Kawasaki CCI Join Hands to Connect Japanese and Vietnamese Businesses

At the meeting, VCCI President Vu Tien Loc spoke highly of Vietnam-Japan cooperation in general and businesses of the two countries in particular. This relationship has been broadened and deepened in various fields, especially when Japan is one of comprehensive strategic cooperation partners of Vietnam. He stressed that, in the context of complex developments in the East Sea, the two-way relationship is closer and stronger. Some Japanese companies have left China for other countries, including Vietnam. This signalled stronger bilateral cooperation in the future.

 

Kawasaki CCI President Osamitsu Yamada also agreed with the host’s opinions and affirmed that the two countries should cooperate more closely not only in the economic field but also in the military field. He also appreciated Vietnam's full participation in economic agreements like FTAs and TPP. This will create better cooperation mechanisms for both countries in general and between Kawasaki businesses and Vietnamese businesses in particular. He also stressed that Kawasaki has a lot of small and medium-sized enterprises engaged in heavy industries, supporting industries, high-tech industry and others. He hoped Vietnamese companies will have many cooperation opportunities in these fields.

 

VCCI has signed cooperation agreements with leading economic organisations in Japan such as the Japan Chamber of Commerce and Industry (JCCI), the Kansai Economic Federation (Kankeiren), the Hiroshima Chamber of Commerce and Industry, the Osaka Chamber of Commerce and Industry, the Fukuroi Chamber of Commerce and Industry (F-CCI) of Fukuroi City - Shizuoka Prefecture, and the Department of Trade and Industry of Fukuoka Prefecture. VCCI and Kawasaki CCI have agreed to sign a cooperation agreement after the two sides discuss and work out a specific schedule for implementation.

 

According to statistics, Vietnam’s export turnover to Japan reached US$8.5 billion in the first seven months of 2014, up 13.3 percent year on year while it spent US$6.9 billion on exports from Japan, up 5.6 percent. Vietnam’s key exports to Japan included garments and textiles, crude oil, vehicles and parts, machines, tools and parts, marine products, and wood products, plastic products, computers, electronic products and components. Vietnam mainly imported machines, tools and parts, computers, electronic products and components, steel, inputs for garment - footwear industries, and plastic products from the East Asian country.

 

Vietnam attracted 2,353 projects with a total registered capital of US$36.061 billion from Japan as of July 2014, accounting for 13.9 percent of FDI projects and 14.9 percent of registered FDI capital in Vietnam. Compared with investors from other countries, Japan-invested projects in Vietnam are often big in capital and the capital disbursement capital to registered capital ratio is very high. They are strictly obedient to policies and laws of the Government and local authorities. Japanese companies mainly invest in industrial processing, manufacturing and high-tech companies in Vietnam.

 

Remarking on investment advantages in Vietnam, VCCI President Vu Tien Loc affirmed that Vietnam has a lot of advantages in labour and production costs while its investment environment is very open and liberal. Especially when Vietnam is diversifying export markets to reduce dependence on China, this is the best opportunity for Japanese companies in general and Kawasaki companies in particular to invest in Vietnam.

 

Osamitsu Yamada added that Kawasaki has signed a memorandum of understanding on economic cooperation with Ba Ria - Vung Tau province of Vietnam. Accordingly, Ba Ria-Vung Tau province and Kawasaki City have many activities and policies to encourage and promote trade, investment, technical and economic cooperation, tourism and other activities. The two localities strengthened relationships, solidarity and mutual development. He said a Kawasaki business delegation will visit Ba Ria - Vung Tau to study and look for investment opportunities. Dr Vu Tien Loc welcomed and promised to create the best conditions for the delegation and hoped to see the signing of many cooperation and investment agreements between the two countries after this trip.

 

He also asked Kawasaki CCI to arrange a visit to supporting industrial zones in Hanoi to update information and expand investment cooperation opportunities in Vietnam.