Japan seeks Vietnam partnership in semiconductor, rare earth projects

By Anh Minh November 4, 2023 | 03:33 pm PT

Vietnamese Prime Minister Pham Minh Chinh (R) welcomes Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi in Hanoi on Oct. 3, 2023. Photo by the Vietnam Government Portal

Japan Minister of Economy, Trade and Industry Nishimura Yasutoshi has urged Vietnam to partner in semiconductor manufacturing, artificial intelligence research, and rare earth mining.

Yasutoshi made the proposals to Prime Minister as the two leaders met in Hanoi Friday, adding that Japan government bodies will cooperate with the Vietnam counterparts through task forces to increase partnership, technology transfer, and human resources training.

PM praised the idea of forming task forces to speed up partnership in specific projects, adding that the Vietnamese government will create favorable conditions for Japanese companies to come and invest.

He proposed that Japan let Vietnamese companies participate deeply in the supply chain.

As Vietnam eyes to become a developed country with high income per capita by 2045, PM Chinh has requested Japan’s assistance in perfecting the institution.

Chinh also wanted Japan to provide Official Development Assistance loans for large infrastructure projects, such as high-speed railways.

He urged Japan to simplify the visa process for Vietnamese and to eventually give them visa exemption so more can live, study and work in Japan.

In May Vietnam and Japan signed three Official Development Assistance projects with a combined value of JPY61 billion (US$500 million).

Japan is the biggest Official Development Assistance provider to Vietnam, having provided around $21.6 billion in Official Development Assistance loans, non-refundable aids, and technical assistance to the country since 1992.