Japan to Assist Vietnam to Develop Industry Sector by 2020

The Japanese government has pledged to support Vietnam to develop the industry sector, especially supporting industries, to accelerate the latter’s industrialization process by 2020. The statement was made by visiting Japanese Minister of Economy, Trade and Industry Yukio Edano during a meeting with Vietnamese Prime Minister Nguyen Tan Dung in Hanoi on August 15, the Vietnam News Agency said. The minister affirmed that Japan would work to facilitate the export of Vietnamese goods to its market, coordinate with Vietnam to develop support industries, and effectively implement major projects agreed by the two countries’ high-ranking leaders. Japan is ready to assist Vietnam in the areas of infrastructure, airport and road construction, and electricity production to contribute to the Southeast Asian nation’s industrialization process, Yukio Edano said. On August 13, the Prime Minister approved to set up a steering board for Vietnam’s industrialization strategy in the Vietnam-Japan cooperation framework towards 2020. The two sides have selected five strategic industries for investment and cooperation: electricity-electronics, food processing, shipbuilding, agriculture machines, environment industry and energy saving, the government’s website reported. Four other industries of motorbike manufacturing, car manufacturing, apparel, and steel are likely to be included. With the Japan’s support, local agencies will build up action plans, solutions, mechanisms and policies to facilitate the cooperation and implement the strategy. (www.chinhphu.vn Aug 14, Vietnamplus Aug 15, An Ninh Thu Do – Capital Security Aug 15 p17, Dau Tu – Investment Aug 16)