Industry News

Vietnam - Potential Partner for Japan's Semiconductor

Vietnam - Potential Partner for Japan's Semiconductor - Created date07/11/2023

The head of the government suggested that Japan support Vietnam in advancing its digital transformation, green transition, and innovation; grow its high-tech and semiconductor industries; and support its biotechnology, pharmaceutical, and medical equipment sectors to support public health care.

Prime Minister Pham Minh Chinh (right) hosts a reception for Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi, Ha Noi, November 3, 2024. Photo by the Vietnam Government Portal
Prime Minister Pham Minh Chinh (right) hosts a reception for Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi, Ha Noi, November 3, 2024. Photo by the Vietnam Government Portal

According to the Northeast nation's Minister of Economy, Trade, and Industry, Japan wants to work with Vietnam to survey, exploit, and process rare earth elements as well as to establish associated industries.

During their Friday meeting in Hanoi, the two leaders of Japan and Vietnam discussed the suggestions. Japan's government departments would work with their Vietnamese counterparts through task forces to enhance collaboration, transfer of technology, and training of human resources.

Vietnamese Prime Minister applauded the idea of task forces to expedite collaboration on certain projects and said that the Vietnamese government will establish advantageous circumstances to attract Japanese investment.

In May, there were three projects totaling JPY61 billion (US$500 million) in official development assistance signed by Vietnam and Japan.

Japan is the largest donor of Official Development Assistance to Vietnam, having given the nation loans totaling over $21.6 billion, non-refundable aid, and technical support since 1992.

Source: Vietnam Government Portal