Viet Nam and Japan strengthen cooperation in economy, energy and agriculture

At a press conference following their talks on May 2, Prime Minister Le Minh Hung and Japanese Prime Minister Takaichi Sanae announced that both sides had agreed on major directions to advance the Viet Nam - Japan Comprehensive Strategic Partnership into a new phase of development with concrete outcomes.

Both sides committed to strengthening economic cooperation, including economic security, energy security, and sustainable agriculture. They agreed on measures to soon raise Japanese investment in Viet Nam to USD 5 billion per year and to achieve USD 60 billion in bilateral trade turnover by 2030.

The two leaders encouraged Japanese businesses to invest in high-tech projects associated with technology transfer, while supporting Vietnamese enterprises to invest and operate in Japan, as well as participate in Japanese government-funded projects.

Both sides will promote market access for agricultural products, initially prioritizing the early opening for Vietnamese green-skinned pomelo and Japanese grapes. The two countries will also enhance ODA cooperation, strengthen economic, energy, and food security, diversify supply chains, and improve each country’s strategic autonomy.

Viet Nam and Japan will further operationalize cooperation in science and technology, green transition, digital transformation, AI, and semiconductors, with priority given to developing high-quality human resources and promoting joint research projects in areas such as semiconductors, artificial intelligence, and space technology.

Both sides also agreed to soon implement cooperation projects under the “Partnership for Asia Energy and Resources Resilience" (POWERR ASIA), aimed at supporting Asian countries in achieving energy self-reliance. Under this framework, Japan will assist in arranging crude oil supplies for the Nghi Son Refinery and Petrochemical Complex.

Prime Minister Le Minh Hung welcomed the announcement of co-funding for 15 joint Viet Nam - Japan research projects on semiconductors under the NEXUS programme, an initiative of the Japan Science and Technology Agency to build international research networks, promote co-creation of knowledge, and strengthen Japan’s scientific and technological influence in the region.

The Prime Minister also expressed appreciation for Japan’s support in implementing Viet Nam’s project on developing one million hectares of high-quality, low-emission rice in the Mekong Delta.

Both sides agreed to continue strengthening political trust by expanding substantive cooperation in defense, security, and diplomacy. The two countries will further enhance the effectiveness of ministerial-level cooperation mechanisms in diplomacy, trade, industry and energy, science and technology, as well as the 2+2 Deputy Minister-level Dialogue on Foreign Affairs and Defense.

The two leaders also agreed to effectively implement cooperation agreements on defense and security, and to strengthen collaboration in areas such as enhancing maritime law enforcement capacity, addressing war legacies, cybersecurity, United Nations peacekeeping, and combating transnational crime.

Both sides further committed to deepening people-to-people exchanges and human resource connectivity through cooperation in local partnerships, labor, healthcare, culture, and tourism. Viet Nam and Japan will continue to coordinate closely and support each other at regional and international forums, as well as on issues of mutual concern.

Prime Minister Takaichi Sanae affirmed that Japan will continue to promote cooperation with Viet Nam in the new phase of development. She expressed her impression of Viet Nam’s progress in recent years, noting that many Japanese companies have expanded their investments in the country, recognizing its role as an important link in global supply chains.

The Japanese Prime Minister also emphasized that strengthening cooperation with Viet Nam is of great significance for advancing the vision of a Free and Open Indo-Pacific.

Viet Nam and Japan established diplomatic relations in 1973 and upgraded ties to a Comprehensive Strategic Partnership in 2023. Japan is Viet Nam’s largest ODA provider, its biggest partner in labor cooperation, the third-largest investor, and the fourth-largest partner in tourism and trade.

Bilateral trade turnover in 2025 reached over USD 51.43 billion, up 11% compared to 2024. As of January 31, 2026, Japan had 5,722 valid investment projects in Viet Nam with a total registered capital of USD 78.9 billion, ranking third among 153 countries and territories investing in Viet Nam.

More than 680,000 Vietnamese nationals are living in Japan, making it the second-largest foreign community in the country.

Japanese Prime Minister Takaichi Sanae paid an official visit to Viet Nam from May 1-3, marking her first visit to the country since taking office in October 2025.