Japanese Government to continue assisting firms in diversifying supply chains in Vietnam

Half of the Japanese businesses that receive support from the Japan's Government to expand supply chains, have chosen Vietnam, and the Government will continue assisting firms in diversifying supply chain, said Japanese Prime Minister Shinzo Abe.
August 05, 2020 | 07:22
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many japanese firms choose vietnam to expand supply chains
Prime Minister Nguyen Xuan Phuc holds phone talks with his Japanese counterpart Shinzo Abe. Photo: VGP

Prime Minister Nguyen Xuan Phuc and his Japanese counterpart Shinzo Abe on August 4 discussed ways to boost bilateral ties as well as cooperation at regional and global forums during their phone talks.

It was their second conversation over telephone in the past three months.

PM Phuc told Abe that Vietnam is going ahead with a range of drastic measures to cope with the novel coronavirus (COVID-19) and has gradually put the epidemic under control.

He thanked Japan for providing its support for the country in combating the pandemic, while asking the Japanese Government to offer continued assistance for the Vietnamese community in Japan.

PM Abe thanked the Vietnamese Government and people for providing medical masks for Japan and expressed his admiration for the Vietnamese Government’s efforts to control the pandemic.

The Vietnamese PM welcomed Japan’s selection of Vietnam as one of the first countries to ease travelling restrictions, adding that Vietnam is creating optimal conditions for Japanese experts, investors and managers to come to the country.

He proposed that both sides continue discussing the resumption of air services in the near future.

The Japanese PM hailed the two nations' agreement to step-by-step resume travelling for their people and voiced his hope that the two sides will continue further expanding travelling while ensuring pandemic prevention and control.

Half of the Japanese businesses that receive support from the Government in expanding supply chains, have chosen Vietnam, and the Japanese Government will continue assisting firms in diversifying supply chains, Abe said while affirming Japan’s readiness to help Vietnam prevent drought and saltwater intrusion.

PM Phuc informed the Japanese PM that the Vietnamese Government has set up a special working group on investment cooperation, which he said will offer support to Japanese enterprises to do business in the country.

He suggested PM Abe continue encouraging Japanese firms to intensify investment in the Southeast Asian nation.

many japanese firms choose vietnam to expand supply chains
An employee works on a production line inside a Japanese-owned factory in China’s Hubei Province, April 8, 2020. Photo by Reuters/Aly Song

Both sides consented to work hand in hand to carry out the Vietnam – Japan university project, and enhance regional trade and investment, including the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

They pledged to continue with mutual liaison at multilateral forums and on regional and global issues of common concern, as well as to bolster cooperation within the Mekong – Japan framework.

PM Phuc vowed to work closely with Japan to promote the universal health coverage initiative as well as Japan’s initiative to establish the ASEAN Centre for emerging diseases and public health emergencies.

Applauding Vietnam’s efforts in its role as ASEAN Chair, Abe said his nation will coordinate closely with Vietnam to successfully hold ASEAN’s related meetings. He also looked forward to visiting Vietnam to attend the ASEAN Summit and have discussions with PM Phuc.

Earlier, in mid-July, there were 15 Japanese enterprises funded to shift production from China to Vietnam.

Japan External Trade Organization (JETRO) released a list of 30 Japanese firms out of 100 companies registering for the diversify supply chains scheme that would be provided funds to shift their manufacturing from China to some Southeast Asian countries including Vietnam, Philippines, Malaysia, Thailand, and Laos.

The fund ranges from 100 million to 5 billion Japanese yen (USD 932,000 – USD 46.6 million), partially offset the costs needed to purchase and install machinery and equipment for production expansion.

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