Hanoi (VNA) – Professor Ryo Ikebefrom the Senshu University of Japan has noted improvements in Vietnam’s economyand the two countries’ economic ties during an interview with Vietnam NewsAgency on the occasion of the 45 years of diplomatic relations.

Ikebe, who formerly served as chiefrepresentative of the Japan External Trade Organisation (JETRO) in Hanoi, said Vietnamwas originally viewed as an agricultural exporter with strong items like rice,coffee, tea and seafood. 

However, its export list has expanded toindustrial products such as smartphones and automobile spare parts. Vietnam hasgradually entered the group of industrial countries by exporting these products.As a result, supporting industries that manufacture components and spare partswill also be promoted to step up industrialisation, he said.

To become an exporting country, Vietnam alsojoined the World Trade Organisation (WTO) and the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP) while negotiating a free tradedeal with the European Union.

Thanks to those efforts, Vietnam has begun to beassessed as a safe investment destination, Ikebe said, citing some investors assaying that the country’s trade policy will not change but keep pursuingliberisation.

Regarding Japan’s investment in Vietnam, he saidsmall- and medium-sized enterprises (SMEs) of Japan are investing in theSoutheast Asian nation. In the face of a falling and ageing population, ashrinking workforce and declining domestic demand, Japanese SMEs are lookingfor foreign markets.

In agriculture, Vietnam used to be a place oflow-cost production, but Japanese firms have begun to see the country as animporter of premium fruits. Compared to 20 years ago, Japan’s investment inVietnamese agriculture has changed, the expert noted.

Meanwhile, Japanese SMEs in the assemblyindustry are also paying attention to Vietnam. Many of them have entered thecountry to produce printer and car spare parts and components, which means theyare investing in supporting industries and helping promote local industrialisation,Ikebe added.

In terms of labour cooperation, he said Vietnamhas the second biggest number of apprentices in Japan, noting that they play acentral role in exchanging techniques between the two countries as they apply whatthey have learnt in Japan in their homeland.

Techniques in supporting industries, welding,shipbuilding, food packaging, construction and agriculture are in need inVietnam, and the country can master these techniques through overseas apprentices,the professor said.–VNA