Vietnam-Japan economic ties hoped to thrive after TPP
The Trans-Pacific Partnership (TPP) agreement is expected to help Vietnam and Japan move forward with win-win economic cooperation, specifically in the fields of support industry and agriculture.
Deputy Prime Minister Hoang Trung Hai speaks at the event. (Source: VNA)
The Trans-Pacific Partnership (TPP) agreement is expected to help Vietnam and Japan move forward with win-win economic cooperation, specifically in the fields of support industry and agriculture, said Deputy Prime Minister Hoang Trung Hai.
Vietnam hopes the Japanese Government and business community will continue to make investments in Vietnam, particularly in electronics, agricultural machines, agro-forestry processing, shipbuilding, environment, energy saving, and automobile spare parts manufacturing, Hai was speaking at a forum in Hanoi on October 14.
He affirmed that the Vietnamese Government pledges to work closely with the Japanese side to improve business environment in order to make the country an attractive market for businesses in the future.
According to a representative from the Japan External Trade Organisation (JETRO), the rate of using locally-produced components in Vietnam is now about 33 percent, compared to 55 percent and 43 percent in Thailand and Indonesia, respectively.
To become a manufacturer and supplier of spare parts for foreign countries, it is imperative for Vietnam to develop support industry and small-and medium-sized enterprises (SMEs), he noted.
JETRO will implement business connectivity between the two countries and introduce the latest agricultural technologies of Japan to Vietnamese partners, he added.
The organisation revealed that among 521 Japanese SMEs wishing to invest in emerging markets, up to 130 companies want to pour cash into Vietnam.
President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said the agency will actively work with JETRO and the Japanese Embassy in Vietnam to facilitate business cooperation between the two nations so that Vietnam could forge ahead with improving infrastructure, developing support industry and becoming a key supplier of farm produce and seafood for Japan.
Japan is one of the biggest trade partners of Vietnam with over 37.7 billion USD of registered investment capital in 2,661 projects operated by 1,500 businesses. Two-way trade hit 27.6 billion USD last year and 19 billion USD in the first eight months of t✱his year.-VNA
The National Committee for International Economic Cooperation and the People’s Committee of southern Ba Ria-Vung Tau province held a seminar on December 14 to review the implementation of the Vietnam-Japan Economic Partnership Agreement over the last three years.
Vietnam is likely to see a new wave of investment from Japan as its investors have shown continued interest in the Southeast Asian market, predicted experts.
Besides new official development assistance commitments, Vietnam and Japan expect to sign a number of important cooperation deals in agriculture during Party chief Nguyen Phu Trong’s visit to Japan.
Party General Secretary Nguyen Phu Trong said he welcomes Japanese businesses to expand their investments in Vietnam and improve their quality and efficiency.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Deputy Prime Minister Hoang Trung Hai speaks at the event. (Source: VNA)
