Vietnam and Aichi expand cooperation from manufacturing to innovation

Vietnam and Aichi expand cooperation from manufacturing to innovation

Vietnam is seeking to attract higher-quality Japanese investment and expand cooperation in innovation and startup ecosystems, Minister of Finance Ngo Van Tuan told Aichi Governor Hideaki Ohmura during talks in Hanoi.

Photo: Duc Minh

The meeting took place on July 10, highlighting opportunities to strengthen economic ties with one of Japan's leading manufacturing hubs while exploring new areas of cooperation in technology, entrepreneurship, and human capital development.

Welcoming the Aichi delegation, Minister Tuan praised the province's long-standing partnership with Vietnam, noting that Aichi, home to Toyota's global manufacturing base and a major automotive cluster, has played an important role in supporting Vietnam's industrial development through investment from its businesses.

He expressed confidence that the visit would help elevate bilateral economic and trade cooperation, particularly as Vietnam seeks to improve the quality of foreign investment.

Minister Tuan also outlined the long-term economic objectives agreed by the two governments, including a target of raising bilateral trade to $600 billion and attracting $50 billion in annual Japanese foreign direct investment by 2030. In line with the Politburo's Resolution No.50-NQ/TW on improving the quality and efficiency of foreign investment, he encouraged Aichi companies in automotive, aviation and advanced manufacturing to strengthen partnerships with Vietnamese firms and help integrate them more deeply into Japanese supply chains.

To facilitate investment, he reaffirmed the Ministry of Finance's commitment to supporting Japanese businesses. "If companies from Aichi encounter any difficulties within the authority of the Ministry of Finance or the Foreign Investment Agency, they should contact us directly. We will work to resolve their issues as quickly as possible," he said.

Photo: Duc Minh

Governor Ohmura noted that Aichi and Vietnam have maintained a close partnership since signing a friendship agreement in 2016. Economic and people-to-people exchanges have continued to expand, supported by 17 weekly direct flights between Chubu International Airport and Hanoi and Ho Chi Minh City.

He added that Aichi is now home to around 71,000 Vietnamese residents, the largest Vietnamese community among Japan's prefectures. Through the Aichi Support Desk, established at Vietnam's Foreign Investment Agency in 2009, businesses from the prefecture have continued to expand investment in Vietnam. "We remain committed to further strengthening this comprehensive partnership in the years ahead," Ohmura said.

Innovation cooperation emerged as another key focus of the meeting. Governor Ohmura introduced Station AI, Japan's largest startup support hub based in Aichi, which brings together around 700 startups and 400 corporate partners, including Toyota. He proposed closer collaboration between Station AI and leading Vietnamese universities, including Hanoi University of Science and Technology and Ho Chi Minh City University of Technology, to develop technology talent and strengthen cross-border innovation networks.

Minister Tuan welcomed the proposal, noting that Vietnam has made innovation and digital transformation a national priority under Resolution 57 and has been actively developing its innovation ecosystem through the National Innovation Centre (NIC). He said closer cooperation between Station AI, the NIC and Vietnamese universities would create new opportunities for startups and technology enterprises in both countries.

During the meeting, Governor Ohmura also invited Minister Tuan to attend the 60^th Annual Meeting of the Asian Development Bank, which Aichi will host in May 2027. The event is expected to bring together finance ministers and central bank governors from more than 70 economies.

He also expressed his hope of welcoming the Vietnamese delegation of more than 450 athletes to the 2026 Asian Games, which Aichi will host in September and October this year.

VIR