Illustrative photo. (Source: economy.vn)Unleashed potential for Vietnam-Japan cooperation remainshuge, he said.
However, “we are living at a time when the frequency andintensity of uncertainties are growing,” he said, adding that changes ingeopolitics and finance-monetary affairs, together with the pandemic, climatechange and natural disasters are creating new landscapes, which trigger ashift in global supply and value chains.
He highlighted several noteworthy factors in the supplychain shift that are relatively relevant to the regional situation, sayingfirst of all, Asia Pacific remains crucial to the global production networkthanks to its competitive advantages as well as trade and investment liberalisationwhich have been accelerated over the past several decades.
Secondly, the fourth Industrial Revolution and the digitaltransformation have optimised supply chains, leading to shortened or shrank supply chains,he continued.
Thirdly, geopolitical tensions like the trade dispute between the US and China,and the COVID-19 pandemic has set the scene for the development of new trends. Manycountries now are more interested in strategic items like masks and medicalsupplies as well as in developing core technologies and identifying trustedpartners.
A store of Japanese clothing brand Uniqlo in Vietnam. (Photo: baodautu.vn)The two sides have established cooperation in the areas ofelectronics, agricultural machinery, agricultural processing, environment,energy efficiency, shipbuilding and supporting industries, Thanh noted.
He advised Vietnamese firms to pay more attention tologistics, hi-tech agriculture, real estate, finance-banking, tourism,retail, aviation, information and technology, and infrastructure developmentwhich are being favoured by Japanese investors.
Recently, Vietnam has consulted foreign investors inmultiple sectors, particularly in improving its role in global supply chains ofmedical supplies which the country has competitive edges, he added./.
VNA
