Japan and Vietnam to work out auto industry action plan within 2017

TIN LIÊN QUAN
	Japanese PM pledges continued support for strong development in VN
	PM meets Speaker of Japanese House of Representatives

The Vietnamese and Japanese Prime Ministers pledge to deepen the two countries' partnership. (Photo: VIR)

Accordingly, the Vietnamese side will implement concrete and strong measures consistent with its World Trade Organisation (WTO) commitments, aiming to sustain and expand domestic production of Completely Built Up car units (CBUs) as first priority.

Both sides will establish a working group and develop concrete measures incorporated in an action plan by the end of this year. The Japanese side confirmed its support for the Vietnamese automobile and supporting industries.

Besides electronics production, agricultural machinery production, agro-seafood processing, shipbuilding, environment and energy, the auto and auto parts production industry is one of the six selected industries in Vietnam’s Industrialization Strategy as outlined in the Vietnam-Japan Cooperation Framework until 2020 with vision to 2030 ratified by former Prime Minister Nguyen Tan Dung back in July 2013.

In the joint declaration, the Japanese side confirmed supporting Vietnam’s development plans of the six selected industries. Japan will consider training advanced engineers for the six industries.

The two sides targeted towards doubling the two-way trade and investment volume during 2014-2020. Investment-wise, they would cooperate to improve the investment environment in Vietnam, strengthen the governance and restructuring of Vietnamese state-owned enterprises, and ensure information disclosure by companies. Both leaders expressed their wish to promote more investment from Japanese companies in Vietnam and to support public-private partnership (PPP) projects.

Prime Minister Nguyen Xuan Phuc thanked Japan for being the biggest ODA donor of Vietnam, contributing to sustainable social and economic development and poverty reduction. He also lauded the active role and contributions of Japanese companies to the economic development and nation building in Vietnam.

The leaders also share the intention to cooperate in resolving the bottlenecks which hinder the implementation of Japan’s ODA projects.

On the occasion, the two sides witnessed the signing of the notes exchange of ODA projects worth ¥100.3 billion ($91 million) pledged by Japan in the 2016 fiscal year. This involved four projects, namely the Maritime Security and Safety Capacity Improvement Project, the Ben Tre Water Management Project, the Bien Hoa City Drainage and Wastewater Treatment Systems Project (Stage 1), and the Hoa Lac Science and Technology City Development Project (phase II).

Additionally, it also included three grant assistance projects in the fields of disaster prevention and human resources development, as well as the loan agreement for the Hoa Lac Science and Technology City Development Project.

The two sides agreed that Japan would provide support to carry out high-quality, large-scale, national infrastructure projects of critical importance, including the North-South Expressway and urban railways. They would continue to cooperate in implementing the Hoa Lac Science and Technology City Development Project. Both sides would continue the discussion on the expressway project connecting Ha Noi (Vietnam) and Vientiane (Laos).

HCM City, Japan boost cooperation in administrative reform Ho Chi Minh City wants to speed up cooperation with Japan particularly in administrative reform

VN, Japan sign deals worth US$22bln Viet Nam and Japan signed business deals worth up to US$22 billion at the conference on investment promotion into Viet Nam, held in Tokyo on ...

PM attends business roundtable in Tokyo PM Nguyen Xuan Phuc partook in a roundtable with Japanese big groups, enterprises, and venture funds during his official visit to the Land of the ...