Vietnam needs policies to promote industrialization: Japanese professor
Japan's contributions have helped Vietnam maintain a stable growth trajectory, driven by the far-reaching effects of FDI.
Vietnam needs industrialization support policies to encourage industrial development and increase the value added of foreign direct investment (FDI) capital, according to Professor Ikebe Ryo of Japan's Senshu University.
Prof. Ikebe Ryo made the remarks at a scientific symposium titled "Vietnam-Japan Relations and Prospects for Economic Cooperation in line with Vietnam's Development Stages" held in Hanoi this week.
He talked about the impact of FDI surge on Vietnam's economic growth and industrialization process, and the economic efficiency brought by this source of capital.
The professor emphasized that improving labor productivity is essential for Vietnam to avoid falling into the middle-income trap.
Experts attend the scientific symposium on Vietnam-Japan relations and prospects for economic cooperation. Photo: JICA Vietnam |
The scientific symposium was organized by the Ho Chi Minh National Academy of Politics (HCMA) and the Japan International Cooperation Agency (JICA) on the occasion of the 50th anniversary of Vietnam-Japan diplomatic ties. The symposium was attended by more than 800 young leaders and managers attending advanced political theory courses at the HCMA.
Speaking at the symposium, Associate Professor Dr. Hoang Van Nghia, Head of the International Cooperation Department at HCMA, praised Japan's role in Vietnam's multi-faceted economic development.
"Japan's contributions have helped Vietnam maintain a stable growth path, driven by the far-reaching impact of FDI. Projects with Japan's support in terms of finance, experts, and technology have helped Vietnam shift from a capital- and labor-intensive model to one with a strong export-oriented structure," Nghia said.
Sugano Yuichi, Chief Representative of JICA in Vietnam, said the symposium is part of the JICA CHAIRS program, which has been running since 2020 to share valuable lessons and experiences from Japan's socio-economic development journey.
Sugano expressed his hope that the participating experts will exchange insights and share ideas on effective cooperation methods that will strengthen the relationship between the two sides.
Professor Tran Van Tho, Honorary Professor at Waseda University in Japan, stressed the East Asian nation's keen interest in Vietnam's development path and cooperation, which includes institutional reform, improving the business climate, and helping Vietnam formulate industrialization strategies.
Related initiatives supporting such efforts include the Ishikawa Project (1995-2000), the Vietnam-Japan Partnership since 2003, and a number of industrial policy research initiatives.
Other News
- South Korea’s Hyosung plans to build data center in Vietnam
- Vietnam in need of US$12 billion for EV infrastructure: HSBC
- Samsung to pour US$1 billion annually into Vietnam
- Vietnam Export Fair 2024: Opportunities to boost exports
- Vietnam's first lotus root export to Japan
- Hanoi to host the Vocational Education Day 2024
- Hanoi tightens e-commerce management
- Q2/2024: Hanoi businesses expect better performance
- Companies, universities team up to develop semiconductor workforce in Vietnam
- Samsung and NIC partner to develop Vietnam's tech talent pool
Trending
-
Vietnam: "Slow travel" by train becomes a trend
-
Vietnam news in brief - May 12
-
Hanoi pledges to facilitate investors at Hoa Lac Hi-tech Park
-
Propaganda poster contests launched for Hanoi’s 70th liberation anniversary
-
Bas-reliefs on Hue's nine dynastic urns listed as UNESCO heritage
-
Hanoi's oldest book street preserving the city's reading culture
-
Private investors: Key to build more parking lots in Hanoi
-
PM urges Cambodian cooperation to promote sustainable use of Mekong River
-
Vietnam seeks more information on Cambodia’s Funan Techo canal project