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Expanding Trade Connections Between Vietnamese and Japanese Businesses

(News Portal – Dong Nai) - Japan is a major investor in Viet Nam, particularly in Dong Nai. Japanese projects utilize modern technology and increasingly require numerous components and supporting products manufactured locally, presenting an opportunity for Vietnamese enterprises to engage.

Recently, the Provincial People's Committee collaborated with the Kansai Bureau of Economy, Trade, and Industry (METI-Kansai) to organize the Vietnam-Japan Enterprise Trade Connection Conference 2024. This aims to help businesses from both sides explore potential cooperation opportunities. 

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Products of Vietnamese Enterprises Displayed at the Vietnam-Japan Enterprise Trade Connection Conference 2024 

Opportunities to Expand Supply of Goods and Products

Quyet Thang Trading-Service-Manufacturing Co., Ltd. (Bien Hoa City) specializes in producing vibrating funnels and automatic feeding systems for manufacturing enterprises located in industrial zones. Mr. Ngo Thanh Binh, the company's director, shared that in recent years, providing products to manufacturing plants in the region, especially those from Japanese enterprises, has been a key focus for the company. To collaborate with foreign-invested enterprises (FDI), the company continuously updates its technology, learns innovative solutions, and implements improvements to meet domestic demands. As a result, similar machinery imported from abroad can cost twice as much as locally produced equipment, making the market highly promising.

Similarly, Kim Vinh Thang Co., Ltd. (Biên Hòa City), led by Director Mr. Phan Van Tu, recently invested in a new factory system to increase production capacity and modernize operations. The company, which produces cast iron and steel products, hopes to secure more collaboration opportunities with Japanese factories and enterprises as well as other partners in need. Kim Vinh Thang welcomes both foreign and domestic partners to visit its factory, explore collaboration opportunities, and establish supply chains, fostering connected production networks. This approach not only fulfills orders but also supports companies in overcoming challenging periods together.

In addition to purely Vietnamese enterprises, joint-venture firms also seek partnerships with Japanese counterparts. Mr. Ha Ngoc Dung, CEO of Chien You Vietnam JSC (Bien Hoa 2 Industrial Zone, a joint venture with Taiwan), shared that the company specializes in semi-trailers and hot-dip galvanizing services. While Chien You's semi-trailers are already well-known in the market, hot-dip galvanizing is a new product line. Therefore, Chien You Vietnam anticipates welcoming more partners for cooperation, exploration, and contract negotiations to supply goods.

Enhancing Supportive Connection Solutions

As of now, Dong Nai has attracted nearly 1,700 FDI projects from 46 countries and territories, totaling over $35 billion in investment. Of these, Japan accounts for 280 projects with a total investment of $5.27 billion, ranking second in the number of projects and third in investment capital in the province.

Dong Nai and its Japanese partners collaborate across various sectors, such as developing human resources in manufacturing industries and advancing supporting industries through initiatives like establishing the Japan Desk to promote and support Japanese enterprises investing in Dong Nai. Additionally, the province implements the Coordinator Program to facilitate connections between Vietnamese and Japanese enterprises. Specifically, the Provincial People's Committee and METI-Kansai first signed an economic cooperation agreement in 2013 and renewed it for the fifth time in September 2024 to advance supporting industries, train and supply industrial human resources, and foster economic cooperation in areas like environmental protection and energy efficiency.

At the Vietnam-Japan Enterprise Trade Connection event on November 14, Vice Chairman of the Dong Nai People's Committee, Mr. Nguyen Son Hung, emphasized that the event is a crucial platform, enabling businesses to find suitable partners and establish long-term collaborations for future development. Moving forward, the Provincial People's Committee will remain committed to directing and ensuring that cooperation activities between Dong Nai and METI-Kansai yield the best results, facilitating business operations and contributing to the economic growth of both regions.

From Japan's perspective, Ms. Nakagawa Mai, Director of the International Business Department at METI-Kansai, noted that Viet Nam is gaining attention as a destination for Japanese companies to expand their businesses, given its market size and growth potential. Viet Nam is also expected to become a hub for building supply chains for neighboring countries in Asia. METI-Kansai aims to continue supporting initiatives that connect Japanese and Vietnamese companies. Regularly organized trade conferences will serve as valuable opportunities for businesses from both countries to meet, explore, and create numerous business collaboration opportunities. 

Author: Bao Nguyen

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