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Jun 08, 2024 / 19:25

Vietnam's manufacturing boom: Japanese giants see golden opportunity

Japan Business Pitch Vol.1 held in Hanoi aims to explore collaboration opportunities between Japanese and Vietnamese businesses, particularly in the manufacturing sector.

As a testament to the strong economic ties between Japan and Vietnam, key industry players gathered at the recent "Japan Business Pitch Vol.1" to explore potential collaboration opportunities, particularly in the manufacturing sector.

Many big Japanese companies have showcased their expertise and expressed their keen interest in forging partnerships with Vietnamese counterparts by reaffirming their commitment to sustainable manufacturing practices. 

The participation of leading Japanese corporations, including Mitsubishi, Misumi, Meiko Electronics, Morinaga Nutritional Foods, and NTT East became a notable highlight of the event, which was held on June 7 by the Japan External Trade Organisation (JETRO) and the Japan Chamber of Commerce and Industry in Vietnam (JCCI). 

 Representatives from various businesses attend the presentation. Photo: JETRO

According to So Terada, Regional Director of Mitsubishi, the company is actively pursuing a transition to greener manufacturing systems. This entails upgrading equipment to reduce emissions and increasing the use of renewable energy sources. Mitsubishi's ultimate goal is to achieve carbon neutrality in all its operations by 2040.

The event also highlighted the immense potential of Vietnam's manufacturing industry. As Tomohiro Watanabe, General Director of Musimi Vietnam, stated, "Vietnam continues to emerge as a market with significant growth prospects for Japanese businesses." He further underlined the country's dynamic business environment and skilled workforce, which make it increasingly attractive to international corporations.

Watanabe also highlighted the adaptability and reliability of Vietnam's manufacturing sector. He noted the country's rapid adoption of international standards and the emergence of numerous Vietnamese enterprises as trusted partners for Japanese companies.

While Vietnam's manufacturing industry presents a wealth of opportunities, it is also crucial to address long-term challenges to ensure sustainable growth. A key area of focus is the transition towards eco-friendly manufacturing practices. Terada's insights into Mitsubishi's initiatives in this regard underscore the importance of industry-wide collaboration to achieve environmental sustainability goals.

The event served as an affirmation of the strong and enduring partnership between Japan and Vietnam, particularly in the manufacturing sector. The participation of leading Japanese corporations and their commitment to sustainable practices demonstrates their confidence in Vietnam's potential. As both nations continue to work together to address industry challenges, the future holds immense promise for mutually beneficial growth and prosperity.

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