Japan’s Ambassador to Vietnam Mitsuo Sakaba said the Vietnamese government’s approval of the supporting industry development master plan in July 2008 was a step in the right direction, but that implementation has failed to meet expectations.

Development of the industrial sector will largely impact Vietnam’s economic prospects, trade and investment ties, and Japan’s future official development assistance (ODA) policy with Vietnam, as well as the political position of all Southeast Asia, he stressed.

Sakaba suggested that relevant ministries and agencies do more to develop supporting industries, as they are essential to ensuring the success of Vietnam-based Japanese companies – an important link in the production chain.

According to Kyoshiro Ichikawa, an investment consultant with the Japan International Cooperation Agency (JICA), developing Vietnam’s manufacturing and production base is one of Japan’s major objectives in the region.

He told the forum that the two countries had different things to contribute toward this goal - Japan has capital and technology and Vietnam has a large workforce and natural resources. As a result, cooperation in producing goods for export and domestic consumption is a key direction in future bilateral investment relations, he added.

The forum had about 300 participants.

Source: VNA