~ Le Viêt Nam, aujourd'hui. ~
The Vietnam News

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[Year 2002]

Vietnam to charm japanese investors

HANOI - Vietnam's Prime Minister Phan Van Khai has assured the visiting speaker of Japan's house of representatives Tamisuke Watanuki that Vietnam will improve its business environment to attract more Japanese investment. Vietnam has been praised by the international community for its political and social stability, and hopes to capitalize on this advantage to make business and investment more attractive, he said. He expressed his appreciation for Japan's assistance to Vietnam's development efforts. He said that even though Japan had cut 10 percent of its overall official development assistance (ODA) due to economic difficulties, it promised to increase its ODA to Vietnam by 8 percent.

Khai pointed out that Japanese ODA and aid has, over the past few years, been valuable in building major development projects - especially in poverty reduction, hunger elimination, rural development, training and technology transfer. He said that in addition to the growth of diplomatic ties, trade and investment has also been rising steadily. Vietnam exports around US$2.5 billion a year to Japan and the latter has become the largest investor in Vietnam, with over $4 billion in 330 projects. Watanuki said that the two nations had many similarities: Both people are peace-loving, industrious, intelligent at work and academically dedicated. This year Japan is determined to offer Vietnam a larger amount of ODA and aid despite its own difficulties, he said. He hopes that Vietnam will further improve its business environment in order to attract more investors from Japan and elsewhere.

The Japanese speaker also held talks with National Assembly Chairman Nguyen Van An about measures to promote ties between Vietnam's National Assembly and Japan's House of Representatives. An told his visitor that the two parliaments should coordinate more closely and regularly exchange experiences in law-making and other activities. Vietnam wishes to develop bilateral and multilateral ties with Japan on a durable and mutually beneficial basis, he said. An also told Watanuki that he hoped Japan will assist Vietnam's efforts to join the World Trade Organization (WTO). Watanuki said that Japan accorded top priority to boosting ties with Southeast Asian nations including Vietnam. For his part, he would support the Japanese government in providing assistance and strengthening cooperation with Vietnam for mutual benefit, Watanuki said.

Asia Times - January 17, 2002.


Vietnam envoy lauds Japan assistance

For Vu Dung, Vietnam's ambassador to Japan since January 2000, Japan was an easy country to adapt to because of the nations' similar values. Both are hard working, friendly, and attach importance to family and human relations, Dung said during a visit Wednesday to The Japan Times. It is significant- Vu Dung , he said, that despite Japan's economic problems, it has remained the No. 1 ODA donor to Vietnam since 1992. Currently, Japan's ODA accounts for 40 percent of all economic aid that Vietnam receives.

The volume of Japan-Vietnam trade increased by 15 percent over the last year, amounting to some 560 billion yen annually. Japan has for a long time been Vietnam's biggest trading partner, Dung said. While many countries were reluctant to invest in Vietnam following the Asian crisis of 1997, Japanese investment recovered after suffering only a small decline and actually increased 300 percent in 2001 from the previous year, he said. Dung also noted that the number of Japanese visitors to Vietnam has increased by 50 percent annually over the past two years.

"When I first came to Japan in January 2000, there were only four flights a week from Kansai International Airport to Ho Chi Minh City. Now there are also flights from Narita, and with the inauguration of the Hanoi route in June, the total number of flights will be as many as 21 a week."

The Japan Times - January 17, 2002.