Việt Nam, Japan seek shift from investment ties to co-creation partnerships

Việt Nam, Japan seek shift from investment ties to co-creation partnerships

By the end of July, accumulated newly registered and adjusted Japanese investment reached about $80.3 billion, ranking third among 153 countries and territories investing in Việt Nam.

Prime Minister Lê Minh Hưng attends the meeting with representatives of Japanese businesses in Huế on Sunday morning. — VNA/VNS Photo

Investment cooperation with Japan needs to move beyond the traditional relationship between an investor and an investment destination towards a broader partnership based on co-development, joint research, innovation and production, Prime Minister Lê Minh Hưng said on September 6.

Speaking at a meeting with representatives of Japanese businesses in Huế as part of the second Việt Nam–Japan Local Cooperation Forum, the Prime Minister said the next phase of bilateral economic cooperation should help enterprises from both countries strengthen their roles in global value chains.

The meeting brought together Vietnamese ministers, central and local officials, Japanese Ambassador to Việt Nam Ito Naoki, business associations and companies operating in key sectors.

Trade and investment ties have continued to expand. In the first seven months of 2026, two-way trade reached US$33.7 billion, up 16.8 per cent year-on-year. Việt Nam's exports to Japan rose 16.6 per cent to about $17.6 billion, while imports from Japan increased 17 per cent to $16.1 billion.

Japan remains among Việt Nam's three largest foreign investors. By the end of July, accumulated newly registered and adjusted Japanese investment reached about $80.3 billion, ranking third among 153 countries and territories investing in Việt Nam. 

Japan is also Việt Nam's largest official development assistance provider, with cumulative ODA loans of nearly three trillion yen.

Tsuchibashi Akito, chairman of the Japanese Chamber of Commerce and Industry in Việt Nam, said Japanese companies continued to value Việt Nam's stability and development potential and intended to maintain long-term investment.

"We want to accompany Việt Nam in its industrial modernisation goals and achieve joint development through co-creation between Việt Nam and Japan," he said.

Prime Minister Hưng said Việt Nam was entering a new development phase focused on rapid and sustainable growth, underpinned by science and technology, innovation, digital and green transformation, higher productivity and stronger competitiveness.

To support its target of double-digit growth during 2026-30, Việt Nam intends to mobilise all economic sectors, with foreign-invested enterprises remaining an important part of the national economy.

Under Politburo Resolution No. 10-NQ/TW dated June 8, 2026, Việt Nam is seeking more selective foreign direct investment, particularly projects involving advanced technology, high added value, stronger spillover effects and closer links with domestic businesses.

The Prime Minister said Việt Nam wanted not only capital but also advanced technology, knowledge, modern management practices, research and development, high-quality human resources and more substantive linkages between foreign-invested and Vietnamese companies.

Prime Minister Lê Minh Hưng attends the meeting with representatives of Japanese businesses in Huế on Sunday morning. — VNA/VNS Photo

The Japanese side raised nine groups of issues involving transport, education, energy, taxation, science and technology and retail. While a number of concerns have already received Government direction, some remain unresolved.

PM Hưng asked ministries and local authorities to review progress and resolve issues within their authority according to clear timelines.

"The general principle is that at whichever level the authority is, they must proactively resolve the issue on schedule," he said. 

Existing regulations must be clearly explained, outdated rules should be reviewed for amendment, and matters beyond an agency's authority must be promptly reported to higher levels.

Responses and progress reports will be sent to the Vietnam Chamber of Commerce and Industry (VCCI) for coordination with the Japanese business association and individual companies. 

Handling results are also to be made public through government portals to improve transparency and monitoring.

For future cooperation, the PM called on Japan to continue supporting a new generation of ODA with larger scale, greater efficiency and simpler procedures, targeting high-tech agriculture, strategic infrastructure, urban and high-speed railways, green and energy transition, digital transformation, semiconductors, innovation and high-quality workforce development.

Japanese companies were also encouraged to deepen partnerships with Vietnamese firms, helping improve corporate governance, technology and production standards and allowing local suppliers to participate more deeply in Japanese corporate supply chains.

The PM called for investment ties to shift from a relationship between investor and investment destination towards a partnership of co-development and co-creation, involving joint research, innovation, production and participation in global value chains.

He also proposed stronger cooperation in mergers and acquisitions between small- and medium-sized enterprises (SMEs), technology transfer and training, alongside closer links in science, technology and digital transformation.

PM Hưng reiterated the Government's commitment to maintaining a stable, transparent, equal, safe and predictable business environment while reducing administrative procedures and compliance costs.

"We are committed to going all the way in resolving legitimate recommendations," he said, adding that Việt Nam would maintain dialogue mechanisms so that regulations could be understood and implemented consistently by all parties. 

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