VIETNAM ATTRACTS JAPANESE ENTREPRENEURS: MINISTER

TOKYO, May 23, 2008 (AsiaPulse via COMTEX) -- -- The Japanese Minister of Economy, Trade and Industry (METI), Akira Amari, says Vietnam is an attractive destination for foreign investors, especially Japanese entrepreneurs.

The Japanese minister attributed this to the fact that both countries share similar cultural identities and Vietnam has a high-quality and creative workforce.

Meeting with Vietnamese Minister of Industry and Trade Vu Huy Hoang during an open dialogue on Japan-Vietnam contributions to Asian economic development on May 22, Minister Amari commended Vietnam s role in the Association of Southeast Asian Nations (ASEAN) and the Mekong sub-region.

With its great potential, Vietnam has been able to catch up with the development level of big regional countries and will become one of the leading nations in ASEAN in the future, the Japanese minister said.

At present, both sides are working hard to complete the negotiation for the signing of an Economic Partnership Agreement in order to further facilitate bilateral economic, trade and investment cooperation, he said.

Minister Hoang told his Japanese counterpart that Vietnam always considers Japan as an important leading partner.

There are around 1,000 Japanese businesses investing more than US$9 billion in Vietnam, the Vietnamese minister said.

Japan is also one of Vietnam's biggest trade partners with two-way trade fetching almost US$4 billion in the first four months of the year and likely to hit US$15-16 billion this year, fulfilling the target many years ahead of schedule.

Minister Hoang also said Japan is Vietnam's biggest official development assistance (ODA) donor, making up around 30 per cent of the Southeast Asian countrys total ODA.

Hoang said Vietnam has an abundant young workforce with around 70 per cent of the population aged below 40, an increasing consumption power and a favouable geographical site which has helped the nation become a production base and part of the foreign business goods distribution chain.

A constantly improving investment environment and a stable socio-political situation make Vietnam a safe destination for investors and tourists, he added.

At the dialogue, the two ministers also discussed atomic energy cooperation.

Minister Amari said Japan is willing to provide energy saving technology to ASEAN and Vietnam in the context of an increasing demand for energy in the region and scarcer natural resources.

Vietnam and Japan have exchanged a nuclear energy cooperation document and both sides will implement cooperation in the future, he added.

Minister Hoang praised Japans effective assistance to Vietnam in electricity and coal mining, as well as research activities in using nuclear energy for peaceful purposes, and said he hoped both sides will further fasten their cooperation in the fields in the future.

On May 21, Minister Hoang held talks with METI Minister Amari at the METI headquarters. He also met with Japan-Vietnam Parliamentary Friendship League President Tsutomu Takebe, Japan Federation of Economic Organisations (Keidanren) Chairman Fujio Mitarai, the Japan External Trade Organisation (JETRO) Chairman Hayashi, Japan Atomic Industrial Forum, Inc. (JAIF) President Hattori and the leaders of Toyota, Sumitomo and Itochu.

(VNA)

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