Japanese companies paying closer attention to Vietnam
Many Japanese companies are focusing their attention on Vietnam as an indispensable link in their supply chains, Deputy Ambassador of Japan in Vietnam, Shige Watanabe, told the 10th Vietnam - Japan Supporting Industries Exhibition (SIE) and the 14th Vietnam Manufacturing Expo (VME) in Hanoi on August 9 to 11.
The Deputy Ambassador affirmed that this is a result of Vietnam’s industrial development, diligent and skilled workforce, and substantial efforts by the Vietnamese Government agencies to improve the business and investment environment, as highlighted in the Vietnam-Japan Joint Initiative over the past 20 years.
The stable supply of raw materials and components in Vietnam enhances supply chain flexibility, reduces costs, and boosts the capacity of supporting industries, which will contribute to the continued growth of the domestic manufacturing industry.
Japanese companies investing in Vietnam also have high expectations for improving technical capabilities and enhancing quality management at their Vietnamese partner enterprises.
“I hope the SIE will lead to new business cooperation between the two sides, with Japanese companies as buyers and Vietnamese companies as suppliers,” Deputy Ambassador Watanabe said.
Mr. Do Thang Hai, Deputy Minister of Industry and Trade, said supporting industries play a significant role in economic restructuring towards industrialization and modernization, contributing to enhancing workplace productivity, competitive capacity, and value creation, and increasing the contribution of the manufacturing and processing industry to the economic structure.
