Econ
Vietnam welcomes Japan’s support in economy reshuffle
Japanese leading corporations such as Maruhan, Mitsui and Toray revealed plans to expand operations in Vietnam.
Vietnam welcomes Japanese companies to join its efforts in restructuring the economy, according to Prime Minister Nguyen Xuan Phuc.
The Vietnamese government is pushing towards the privatization of state-owned enterprises in a substantial and efficient manner, especially in the priority fields such as transportation, construction, telecommunications, agriculture, trade, services, tourism, among others.
Phuc said in a meeting with Han Chang-woo, president and CEO of Maruhan on July 1, where he expected large corporations like Maruhan to become strategic partner of Vietnamese state firms.
The Vietnam PM requested Maruhan to support restructuring Vietnam’s banking sector. In addition to the capital contribution, Phuc expected Maruhan to provide expertise and technologies for local partners to transform themselves into digital banks, promoting a cashless society.
Maruhan’s CEO Han said the group seeks strong support from the government during this process and would play a more active role for the development of Vietnam’s finance sector.
Focused on quality FDI projects
Meeting with Mitsui’s President Tatsuo Yasunaga, Phuc highly regarded the cooperation between the company and Minh Phu Seafood JS Company, which could potentially raise Minh Phu’s shrimp exports to US$1 billion.
Yasunaga informed the Vietnam PM that the investment worth US$150 million has been a success, saying the two companies would focus on expanding export markets to the US and Russia.
In a separate meeting with Mitsuo Ohya, vice president of Toray Industries, Phuc said Vietnam’s textile industry represents huge potential for the company following its recent investment in the sector.
The demand in the textile sector would grow strongly, especially as Vietnam is now a member of the Comprehensive and Progressive Trans – Pacific Partnership (CPTPP), the EU – Vietnam Free Trade Agreement (EVFTA), as well as other trade deals, said Phuc.
Toray Vice President Ohya said the company is considering large scale investment in Vietnam, using modern and environmentally-friendly technologies.
Following a meeting with President of Sumitomo Masayyuki Hyodo, Phuc welcomed the group's recent investments in smart city projects and fintech in Vietnam.
Phuc stressed the importance for Vietnam to attract high quality FDI projects and requested Sumitomo to ensure the progress of those projects and use modern technologies.
Prime Minister Nguyen Xuan Phuc and Han Chang-woo, President and CEO of Maruhan. Source: VGP.
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Phuc said in a meeting with Han Chang-woo, president and CEO of Maruhan on July 1, where he expected large corporations like Maruhan to become strategic partner of Vietnamese state firms.
The Vietnam PM requested Maruhan to support restructuring Vietnam’s banking sector. In addition to the capital contribution, Phuc expected Maruhan to provide expertise and technologies for local partners to transform themselves into digital banks, promoting a cashless society.
Maruhan’s CEO Han said the group seeks strong support from the government during this process and would play a more active role for the development of Vietnam’s finance sector.
Focused on quality FDI projects
PM Phuc in a meeting with Mitsui’s President Tatsuo Yasunaga. Source: VGP.
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Yasunaga informed the Vietnam PM that the investment worth US$150 million has been a success, saying the two companies would focus on expanding export markets to the US and Russia.
PM Phuc and Mitsuo Ohya, Vice President of Toray Industries. Source: VGP.
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The demand in the textile sector would grow strongly, especially as Vietnam is now a member of the Comprehensive and Progressive Trans – Pacific Partnership (CPTPP), the EU – Vietnam Free Trade Agreement (EVFTA), as well as other trade deals, said Phuc.
Toray Vice President Ohya said the company is considering large scale investment in Vietnam, using modern and environmentally-friendly technologies.
Following a meeting with President of Sumitomo Masayyuki Hyodo, Phuc welcomed the group's recent investments in smart city projects and fintech in Vietnam.
Phuc stressed the importance for Vietnam to attract high quality FDI projects and requested Sumitomo to ensure the progress of those projects and use modern technologies.
