Vietnam and Japan Elevate Investment Ties to "Co-creating and Pioneering Partners"

On September 6, in Hue City, within the framework of the 2nd Vietnam-Japan Local Cooperation Forum, Prime Minister Le Minh Hung held a working session with representatives of Japanese enterprises operating in Vietnam. This meeting clarified Vietnam's intention to elevate the investment relationship between the two countries from a traditional cooperative one to a more advanced "co-creating and pioneering partner." Vietnam consistently regards Japan as "one of the most important and long-term partners." During the meeting, specific cooperation examples were cited, such as sharing experiences in urban flood management and river basin management. Furthermore, an upgrade in cooperation levels in intellectual property rights protection and strengthened collaboration in cultural industries and copyright protection were confirmed. The promotion of digital transformation (DX) has also emerged as a subject of cooperation between the two countries in the healthcare sector. From the Japanese side, expert opinions were also presented suggesting that Vietnam should prioritize semiconductor manufacturing and packaging. This indicates the importance of technology and know-how transfer from Japan as Vietnam seeks to expand its role in the supply chain and shift towards high-value-added industries. Under Vietnam's one-party system, attracting foreign investment is a crucial pillar of economic growth. Japan, in particular, has long been one of its largest ODA providers and a major investor. This elevation signifies a commitment to joint initiatives in technological development and new business creation, going beyond mere economic ties. This move is also seen as aligning with Vietnam's foreign policy strategy to diversify its economic dependence away from China.