PM meets with leaders of Japanese conglomerates

At the reception for Tatsuo Yasunaga, President and CEO of Mitsui & Co Ltd., the Government leader praised the company’s business performance in Vietnam, particularly in processing and distributing of local aquatic products.

PM Phuc welcomed a joint project between Mitsui and Minh Phu Seafood Corporation which could push the shrimp export value of the major shrimp farming business in Vietnam to USD1 billion.

Yasunaga informed his host of the success of the joint project, which has seen over USD150 million invested in improving Minh Phu’s processing, business management and export capacity, adding the sides plan to focus on upgrading refrigeration equipment and expanding export markets, particularly targeting Russia apart from the US.

In another meeting with Han Chang-woo, chairman and CEO of Maruhan Corporation, PM Phuc said Vietnam is pressing ahead with effective equitisation of Stated-owned enterprises (SOEs), particularly in transport, infrastructure, construction, telecom, agriculture, trade-services, and tourism.

The Vietnamese Government is willing to create favorable conditions for Japanese firms, including Maruhan, to set up strategic partnerships with the SOEs, he affirmed.

Encouraging the company to join banking restructuring process in Vietnam, Phuc wanted Maruhan to not only contribute capital but also provide support in terms of technology and financial skills needed to building a digital banking industry.  

Han said his firm is looking for such support from the PM and the Vietnamese Government so that it could engage in the local banking restructuring.

The same day, the Vietnamese leader also received Mitsuo Ohya, Senior Vice President of Toray Industries, Inc., who said that his group is considering a large-scale investment plan in Vietnam that uses advanced and sustainable technologies, and is expecting the Government’s attention.

The PM welcomed the company’s investment in fabric weaving, an area of high demand in Vietnam. He noted that with its joining of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and signing of the EU-Vietnam Free Trade Agreement, Vietnam is a potential market for the company.

He suggested Toray Industries, when investing in Vietnam, study the building of modern industrial complexes, cooperate with domestic firms in supplying electronic components, and work with public agencies in training highly competent managers and engineers for the garment-textile industry.

Receiving Masayuki Hyodo, President and CEO of Sumitomo Corporation, PM Phuc lauded the company’s investment-business collaboration projects with leading Japanese and Vietnamese firms, particularly those on fintech and smart city development.  

Hyodo stressed his commitment to make Sumitomo’s investment in Vietnam a success, contributing to the nation’s growth.

Also on July 1st, the PM attended the celebration of the 25th anniversary of the Vietnam Airlines’ Vietnam - Japan route.