Long An province is seizing the opportunity to attract Foreign Direct Investment from Japan

The 2023 Vietnam-Japan Trade and Investment Promotion Forum was organized by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with various organizations in Japan. The event was attended by Mr. Pham Quang Hieu, the Ambassador of Vietnam to Japan; Mr. Hoang Quang Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry; Ms. Kakihara Atsuko, Co-Chair of the Japan Business Association and JMBCC; Mr. Yoshikawa Tetsushi, Deputy Director-General of Trade Policy, Trade Policy Bureau of Japan's Ministry of Economy, Trade, and Industry (METI).

Representing Long An province, Mr. Nguyen Van Ut, Chairman of Long An Provincial People's Committee, and other members of the delegation also participated in the event. Additionally, the event saw the participation of delegates from the provinces of Hung Yen and Soc Trang in addition to infrastructure investment companies in Vietnam. Over 150 representatives from various Japanese businesses and corporations attended the forum.

Ambassador Pham Quang Hieu emphasized that economic and trade relations between Vietnam and Japan are developing rapidly. Japan is currently Vietnam's leading economic partner, the highest ODA provider, the second-largest labor partner, the third-largest investor and tourist partner, and the fourth-largest trading partner. He emphasized that the Vietnam-Japan relationship is currently at its strongest stage in history, with support from the governments and people of both countries. This favorable relationship has been achieved through collaborative efforts to reach new heights.

In addition to traditional areas of cooperation such as investment, trade, tourism, labor, and grassroots exchanges, Vietnam and Japan have been increasing cooperation in new areas including green transformation, energy transition, and local exchanges between the two countries.

In celebration of the 50th anniversary of the establishment of diplomatic relations between Vietnam and Japan, Ambassador Pham Quang Hieu highly regarded the role of VCCI and the proactive efforts of local governments in attracting investment and comprehensive cooperation with Japanese partners. He also suggested local governments to perform administrative procedure reforms, develop comprehensive infrastructure, enhance the quality of human resources, and aim for sustainable and environmentally friendly investment to attract Japanese businesses.

Mr. Nguyen Van Ut, Chairman of the Long An Provincial People's Committee, introduced the province's development plan for the years between 2021 and 2030, with a vision towards 2050. He highlighted Long An's potential and advantages in attracting investment and trade. The province boasts numerous industrial parks and export processing zones with synchronized technical infrastructure. Furthermore, Long An houses a considerable labor force with nearly one million residents in the working-age group. The province is also enhancing the quality of its labor force through training programs and education partnerships with Japan to attract major Japanese businesses and corporations.

According to Mr. Ut, Long An Province is prioritizing investment in key sectors such as industry, electronics, international-standard urban areas, high-tech agriculture, and logistics. These are sectors where Japanese partners have significant strengths and a prominent global position.

At the forum, Saigon Telecommunication Technology Corporation signed a memorandum of understanding on cooperation with Valley Campus Japan (VCJ) and Valley Campus Saigon (VCS) on implementing projects in Long An with regards to human resources development, technology solutions, and transfer in the fields of agriculture and the environment.

This collaboration aims to provide high-level training and capacity building for human resources to meet the stringent requirements of Japan, with a focus on advanced agricultural technology utilizing IoT applications, the use of blockchain technology for source tracing and carbon emission monitoring, and the implementation of new technologies in the environmental sector in Vietnam.

This signing ceremony was the sole cooperation agreement at the forum, which received great attention and high praise from Japanese partners. Consequently, stakeholders aim to realize the goals of industrialization, modernization, and sustainable development that Long An province is striving for.

Following the events in Tokyo, the Long An Provincial delegation will move to Osaka to participate in the 2023 Vietnam - Japan Trade and Investment Promotion Forum in Kansai, and visit the Consulate General of Vietnam in Osaka, Japan.

The Long An Provincial delegation participated in investment and trade promotion activities in Japan from September 10 to September 16, following an invitation from the Vietnam Chamber of Commerce and Industry and the Consulate General of Vietnam in Osaka. Prior to the aforementioned events, the delegation visited and exchanged greetings at the Embassy of Vietnam in Japan, held discussions with the Japan External Trade Organization, engaged in diplomatic interactions with Japanese Members of Parliament, and conducted business meetings with various businesses and universities in Japan.