A series of billion-dollar agreements of Japanese enterprises with Vietnam

At the Vietnam - Japan Investment Promotion Conference on the morning of November 25, more than 40 cooperation agreements were signed under the witness of Prime Minister Pham Minh Chinh. This is also one of the closing events of the Prime Minister's official visit to Japan.

The total value of investment cooperation is more than 3 billion USD and many other cooperation agreements bring value to both sides.

The first is the investment worth half a billion USD for the project of raising, processing and distributing beef cattle in Tam Dao, Vinh Phuc between Sojitz and Vilico Vietnam Livestock Corporation under Vinamilk. The joint venture will invest in facilities for raising, processing and distributing beef products in Vietnam, supplying the domestic market and export.

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Sojitz also has a series of other deals worth hundreds of millions of dollars. For example, this group cooperates in research, construction and development of an industrial park with a total value of 250 million USD with Bamboo Capital Company, Hong Duc Industry Company.

Another deal worth $160 million by Sojitz is to research and develop a centralized natural gas supply system and energy-related services at Deep C Hai Phong Technology Park.

Sumitomo Group cooperates in research and development of infrastructure construction projects in Da Nang City. At the same time, this enterprise also agreed to cooperate to promote the expansion of Thang Long II Industrial Park Project.

AeonMall, a retail group "familiar" with Vietnam, this time also announced the investment in Aeon Mall Thanh Hoa and Hue by AeonMall Vietnam, the investment value in each locality is 170 million USD.

Meanwhile, Mitsubishi also cooperated to invest in a high-rise smart warehouse system in Bac Ninh with Western Pacific Company. This group also cooperates with Chan May Company to invest and develop Chan May LNG gas power plant projects.

Mitsubishi, together with Marubeni Group and Power Generation Corporation 3, also agreed to build Long Son 1 Power Plant project with a total value of 1.75 billion USD.

Chairman of Bac Ninh Provincial People's Committee and Mitsubishi Corporation also awarded a cooperation agreement for high-rise smart warehouse in the Industrial Park.

Endo-Sei-an Co., Ltd. cooperates with Mia Group for $26 million to promote technology transfer, invest in a red bean processing plant in Son La and export to Japan.

Japan's Biomimetics Sympathies has an agreement to transfer stem cell technology with T&T Pharmaceutical Company.

In addition to investment commitments, during this visit of Prime Minister Pham Minh Chinh, there were many cooperation agreements on human resource training or other environmental protection solutions signed between ministries, sectors and businesses.

Vietnam - Japan established diplomatic relations in 1973. Japan is the leading economic partner of Vietnam and the first G7 country to recognize Vietnam's market economic status in 2011.

Japan is also the largest ODA donor to Vietnam (about $38 billion – one third of the ODA they give to other countries). This is also the number two investor of Vietnam and the fourth largest trading partner with two-way trade turnover of 40 billion USD.

Thanh Thanh Lan (https://vnexpress.net)