HCMC – Vietnam expects Japan to strengthen bilateral cooperation in key industries, with a focus on technology, Deputy Prime Minister Tran Luu Quang said yesterday, February 15.

Speaking at the Vietnam-Japan Economic Forum 2023, Quang proposed that Vietnam and Japan continue developing bilateral cooperation strategies on digital platforms, holding more discussions and meetings, exchanging experiences and knowledge about digital transformation and building a research and development center in Vietnam.

At the event, held to mark the 50th anniversary of diplomatic ties between Vietnam and Japan, Quang called for Japanese firms to transfer technology to Vietnam, pledging to create more favorable conditions for Japanese tech investors.

Increased partnership will help beef up two-way trade, improve the investment climate, enhance production capacity and raise competitiveness, the local media reported.

Japan is Vietnam’s leading official development assistance donor and fourth largest trade partner.

Over 200 Japanese businesses are involved in Vietnam, making Japan rank second among nations with the highest number of firms active in Vietnam, according to the Japan Chamber of Commerce and Industry.

As of December last year, Japanese firms had been present in 57 out of 63 provinces and cities in Vietnam, with nearly 5,000 operational projects worth US$69 billion.

A recent survey by the Japanese agency showed that some 60% of Japanese firms in Vietnam are set to expand their operations in the country.