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| The "Hanoi-Japan Investment and Trade Promotion Conference 2024" recently held in Tokyo, Japan (Photo: hanoimoi.com.vn) |
The conference was organized by the Hanoi People’s Committee in coordination with the Vietnamese Embassy in Japan and the Japan External Trade Organization (JETRO) to further enhance promotion efforts and foster connections with Japanese organizations, businesses and investors.
Speaking at the conference, Mr. Thanh expressed Hanoi’s honor in hosting this significant event in Japan, a country with which Hanoi has a long-standing and robust friendship and cooperation. The timing of the event is especially meaningful as 2024 marks the first year of the "Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World" between Vietnam and Japan, in which Japan has become a key economic partner for Vietnam, and Vietnam has emerged as a major partner for Japan in Southeast Asia.
In recent years, Hanoi has achieved many outstanding results in socio-economic development and attracting foreign investment, with Japan playing an important role as a strategic partner. Japan is Hanoi’s largest ODA donor and its leading foreign investor. As of September 2024, Japanese investors had contributed approximately USD14.058 billion in FDI to the city. Key areas of Japanese investment include real estate, manufacturing, education and training, and wholesale and retail, including automotive and motorcycle repairs.
Japanese investment projects have significantly contributed to Hanoi’s socio-economic development, infrastructure improvement and quality of life. Japan remains Hanoi’s top strategic partner, largest source of ODA funding and leading foreign investor.
Beyond investment cooperation, trade relations between Hanoi and Japan have been further strengthened, leveraging various free trade agreements between Vietnam and Japan, such as the Vietnam-Japan Economic Partnership Agreement (VJEPA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These agreements have facilitated substantial tax and trade advantages for bilateral commerce, with Hanoi-Japan trade currently accounting for about 10% of Hanoi's total import-export volume.
According to Chairman Tran Sy Thanh, Hanoi highly values and is ready to provide optimal conditions for Japanese businesses and investors interested in investing and operating in the city.
From the Japanese business perspective, JETRO Vice Chairman Katsunori Nakazawa expressed confidence that the conference would offer opportunities for Hanoi and Japanese city leaders to engage in practical discussions, further boosting trade and investment between the two parties.
In light of the friendship between the two countries, Vietnamese Ambassador to Japan Pham Quang Hieu highlighted Japan’s position as one of Vietnam's largest investment and trading partners. Hanoi stands out as one of the leading localities in Vietnam attracting a diverse range of investments from Japan, covering sectors such as real estate, manufacturing, education, wholesale and retail, and vehicle repair.
Ambassador Pham Quang Hieu emphasized Hanoi’s efforts to maintain macroeconomic stability, control inflation, promote growth and secure key economic balances. The city continuously improves its business and investment environment to ensure alignment with international standards and support and protect the interests of investors.
Ambassador Pham Quang Hieu hopes that the conference, besides providing updated information on Hanoi, will serve as a valuable opportunity for Japanese businesses to connect directly with Hanoi’s leadership and local companies, fostering many effective and fruitful future partnerships./.