Japan’s Marubeni Corp. asked to boost ties with Vietnamese firms

Deputy PM Trinh Dinh Dung (R) meets with CEO of Marubeni Corporation Masumi Kakinoki in Hanoi on April 16 - Photo: VNA

The deputy PM highly valued Marubeni’s consideration of Vietnam as an important market in Asia, as well as its investment in the country’s critical industries like export-import, energy, food processing, and garment-textiles.

He described Marubeni’s development in Vietnam as an illustration of the Vietnam-Japan cooperation and friendship, which are flourishing in a substantive and comprehensive manner with high political trust.

Japan is currently a leading economic, trade, and investment partner of Vietnam, he said, elaborating that it is the top supplier of official development assistance with the capital of some 30 billion USD; the second biggest investor with 4,020 projects worth 57 billion USD; and the third largest source of foreign visitors, with some 800,000 tourists to Vietnam last year. With 38 billion USD in bilateral trade in 2018, Japan ranks fourth amongst Vietnam’s trade partners.

Dung said that Vietnam attaches great importance to its economic partnership with Japan and appreciates Japanese businesses’ investment expansion in various industries. They have actively contributed to local socio-economic development.

As Vietnam has signed many trade agreements with foreign partners, he called on Marubeni and other Japanese enterprises to continue increasing investment in Vietnam and cooperation with local firms. He suggested the group collaborate with Vietnamese partners to produce and distribute Vietnamese products to the Japanese and global markets.

The Vietnamese Government is determined to push ahead with streamlining administrative procedures and improving the investment climate, thereby creating better conditions for foreign investors, including those from Japan, to invest and do business successfully in the country, Deputy PM Dung affirmed.

At the meeting, Marubeni CEO Masumi Kakinoki thanked the Vietnamese Government, ministries, sectors, and localities for creating optimal conditions for his firm to operate.

He affirmed the group’s intention to make long-term investments in Vietnam in various fields, including export-import, electricity generation, liquefied gas projects, running water production and business, and wastewater treatment.

Marubeni also wishes to partner with Vietnamese companies to expand its investment into many other fields, he added.