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Vietnam-Japan Joint Initiative helps improve business climate    
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Vietnam-Japan Joint Initiative helps improve business climate
Dec 08 2017

As many as 28 policy dialogues were held between Vietnamese and Japanese agencies involved in the sixth phase of the Vietnam-Japan Joint Initiative, which lasted from August 2016 to December 2017.

The outcome was released at a high-level meeting of the Joint Committee of the Vietnam-Japan Initiative held in Hanoi on December 7 to review the implementation of the sixth phase. 

The Japanese side has made many constructive policy recommendations, which have been acquired by concerned Vietnamese ministries and agencies to serve the refining of law and policy as well as the enforcement process. 

According to the committee, 19 out of 32 items identified to be done in the sixth phase have been carried out soundly as scheduled, covering services, support to small-and medium-sized enterprises, logistics-transportation and labour. 

Meanwhile, the seven stagnant items dealt with labour issue, regulations for foreign investors in the Investment Law, the Law on Business and the Land Law as well other laws regarding investment and business, and pharmaceutical product distribution. 

The two sides will continue to discuss the six items that have yet to be realised.
 
They agreed to soon carry out the seventh phase of the project with new approach and implementation method suitable with the reality. 

Major, feasible policy recommendations are expected to be made at the seventh phase, contributing to improving Vietnam’s investment environment, attracting more Japanese investments in the country and consolidating the comprehensive strategic partnership between the two countries. 

Addressing the meeting, Vietnamese Ministry of Planning and Investment Nguyen Chi Dung praised efforts made by Vietnamese ministries and agencies and Japanese businesses over the past 14 years of implementing the initiative. 

Their efforts have helped create a favourable and competitive business climate in Vietnam, expand Japanese investments in the country, complete local mechanisms and policies and promote law enforcement, he said. 

“Vietnam wishes to cooperate with Japan to develop the domestic economy more rapidly, sustainably and independently, that can connect with the world on the basis of the Vietnam-Japan extensive strategic partnership for peace and prosperity in Asia,” he said. 

Japanese Ambassador to Vietnam Kunio Umeda expressed his hope that the Vietnamese Government will firmly realise industrial development policies for the mid- and long-terms and macro-economic targets such as economic growth rate, inflation and trade deficit. 

The Japanese Government will actively join hands with its Vietnamese counterpart to popularise valid policies in the fields of production and industry, while calling for Japanese investments in Vietnam, he said.-VNA