Hanoi (VNA) – Deputy Prime MinisterTran Luu Quang on February 15 suggested Vietnam and Japan strengthen theirinvestment cooperation, especially in spearhead industries, pay attention totechnology transfer to Vietnam, and promote green transition.

Speaking at the Vietnam-Japan Economic Forum 2023 inHanoi, the Deputy PM affirmed that the Vietnamese government will alwaysaccompany and create optimal conditions for Japanese firms to operate in theSoutheast Asian nation for a long-term.

The two countries should expand their tradecollaboration, he said, stressing the need to effectively implement bilateraland multilateral cooperation mechanisms such as the Vietnam-Japan Free Trade Agreement,the ASEAN-Japan Comprehensive Economic Partnership (AJCEP), the Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP) and theRegional Comprehensive Economic Partnership (RCEP) in order to raise thebilateral trade revenue in a balanced manner.

Quang also suggested the two countries elevate theirstrategic partnership on digital platforms, thus opening up investment andconnectivity opportunities for businesses.

He called on the Japanese side to share itsexperience and knowledge in digital transformation and business administration,and build research and development (R&D) centres in the country.

The forum was jointly held by the Vietnam Chamber ofCommerce and Industry (VCCI) and theJapan Chamber of Commerce and Industry (JCCI) on the occasion of the working visitto Vietnam by Chairman of the Japan-Mekong Business Cooperation Committee YoshihisaSuzuki.

VCCI Chairman Pham Tan Cong noted that Japan isamong the three biggest foreign investors in Vietnam with about 4,835 projectsworth over 64 billion USD.

Two-way trade was reached nearly 50 billionUSD last year, making Japan the fourth largest trade partner of Vietnam, hesaid, adding that with a vision set for the next 50 years, the two countriesboast substantial potential to boost their economic cooperation.

Vietnam expects to become a developedcountry with upper income by 2045, and to achieve the goal, the country needs to maintain its GDPgrowth constantly at 6-7% annually, which would be a great opportunity forJapanese and Vietnamese enterprises to grow together.

Discussions within the forum will focus on thebilateral cooperation in high-tech agriculture, renewable energy, green growthand startup, according to Cong.

Suzuki said the forum will also touch uponpost-COVID-19 issues, the implementation of economic development targets andthe enhancement of cooperation between businesses of the two countries./.