Okabe Mitsutoshi said that with the issuance of Politburo's Resolution No. 10-NQ/TW in June this year, Viet Nam has set out policy directions aimed at attracting high-quality foreign investment. In this context, General Secretary and President To Lam's visit to Japan serves as an excellent opportunity to showcase a "New Viet Nam" to Japanese companies and to build a new phase in Japan-Viet Nam relations.
Viet Nam and Japan have continued to deepen their economic relationship, as symbolized by the elevation of bilateral ties to a Comprehensive Strategic Partnership in 2023. Today, more than 2,100 Japanese companies are operating across a wide range of industries in Viet Nam. By combining Japan's technological expertise with Viet Nam's strong growth potential and highly skilled workforce, the two countries have achieved mutual economic development and prosperity.
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Building on this long-standing complementary relationship, JETRO expects to see the emergence of new forms of partnership in the years ahead, particularly in areas that the Vietnamese Government is actively promoting, such as science and technology, innovation, and digital transformation. These fields would potentially become key drivers of the next phase of Japan-Viet Nam economic cooperation.
In his opinion, AI and digital technology, as well as green growth and sustainability offer especially strong opportunities for cooperation between Japan and Viet Nam.
Viet Nam has a large pool of talented IT professionals, and there is growing interest in cooperation between Japanese and Vietnamese companies in areas such as AI development and digital services.
By combining Viet Nam's skilled workforce with Japan's advanced technology and business experience, both countries can create new opportunities and drive growth in the digital economy.
Another promising area is cooperation on energy efficiency, decarbonization, and carbon neutrality. Japan possesses significant strengths that can help address Viet Nam's challenges in these fields, and by leveraging the complementary strengths of both countries, Japan and Viet Nam can further deepen a mutually beneficial partnership.
Viet Nam continues to attract strong interest from Japanese businesses for several reasons. First, the country offers robust economic growth and significant market potential. Second, its political and social stability provides a favorable environment for companies operating in the country. In addition, Viet Nam has a young, talented, and increasingly skilled workforce, which is a major advantage for foreign investors.
Another important factor is the close people-to-people connection between Japan and Viet Nam. Many Vietnamese have studied the Japanese language and built successful careers with Japanese companies. In recent years, an increasing number of Vietnamese professionals who gained experience at Japanese headquarters have returned to Viet Nam and taken on leadership positions in local subsidiaries. This has helped strengthen mutual understanding and business cooperation between the two countries.
These economic and human-resource advantages, combined with the long-standing trust between Japan and Viet Nam, continue to make Viet Nam one of the most attractive destinations for Japanese investment in the region.
Why Viet Nam attracts strong interest from Japanese businesses?
Viet Nam continues to attract strong interest from Japanese businesses for several reasons. First, the country offers robust economic growth and significant market potential. Second, its political and social stability provides a favorable environment for companies operating in the country. In addition, Viet Nam has a young, talented, and increasingly skilled workforce.
Based on JETRO's surveys and our continuous engagement with Japanese companies, many Japanese companies remain positive about Viet Nam's medium- to long-term business prospects.
Viet Nam has recently issued new directions for economic development through Resolution No. 68, which promotes the development of the private sector, and Resolution No. 10, issued in June this year, which sets out policies to attract high-quality foreign investment.
In addition, the Government is actively pursuing administrative reforms, including the restructuring of central and local government bodies, and advancing infrastructure development. These efforts are expected to improve the business environment and enhance the country's competitiveness.
Through these reforms, Viet Nam is entering a new stage of development and is expected to play an increasingly important role in the global economy. Against this backdrop, many Japanese companies continue to view Viet Nam as a highly promising market and an important destination for business expansion and investment./.