VN, Japan aim for strategic relations
(08-01-2008) Ha Noi — The Vietnamese Government and people were building Viet Nam-Japan relations in a move towards long-term strategic partnership, Prime Minister Nguyen Tan Dung affirmed yesterday.
The Prime Minister told his guests, Japan’s Finance Minister Fukushiro Nugaka and his entourage, yesterday that a Viet Nam-Japan strategic partnership would benefit both countries and secure peace and stability in the region while helping the world at large.
Dung expressed his pleasure at Japan’s continuous support of Viet Nam in various fields, particularly capital investment.
Dung spoke highly of Japan’s ODA funding to the country, specifically regarding three large-scale infrastructure projects: the Hoa Lac Hi-Tech Park, the North-South Express Land Route and the North-South Express Rail Road.
"These three projects play a strategic role in developing the Vietnamese economy, and Japan’s ODA funding for them is essential to deepening the two countries’ friendship and co-operative relations," Dung said.
Minister Nukaga confirmed that the Japanese Government was moving forward with the three projects and would continue to co-operate in maritime and finance sectors.
Viet Nam’s stability and development were closely attached to that of Asia and the Southeast Asian region, and therefore Japan would further its support to the country, especially relating to infrastructure and poverty reduction, Nukaga said.
Also yesterday, Nukaga had a working session with Finance Minister Vu Van Ninh where they discussed financial initiatives in the region and preparations for Viet Nam and Japan becoming co-chairs of the ASEAN + 3 Finance Minister’s meeting in 2008.
They also discussed implementation of the Chiang Mai Initiative and the ASEAN + 3 initiative to develop the bond market.
Viet Nam has emerged as an attractive destination for Japanese investors, both in scale and capital, given the country’s cheap labour and the government’s favourable foreign investment policies.
Two-way trade between Viet Nam and Japan reached nearly US$12 billion last year.
Japan’s foreign direct investment in Viet Nam was estimated at $1.3 billion in 2006, doubling 2005’s figure.
source: VNS
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