Japan Explores Collaborative Opportunities with Vietnam in Semiconductor and Rare Earth Ventures

Japan’s Minister of Economy, Trade and Industry, Nishimura Yasutoshi, has called for a partnership between Japan and Vietnam in various sectors, including semiconductor manufacturing, artificial intelligence research, and rare earth mining. During a meeting with Vietnam’s Prime Minister in Hanoi, Yasutoshi proposed the formation of task forces to facilitate collaboration, technology transfer, and training of human resources.

The Prime Minister welcomed the idea of task forces and expressed the Vietnamese government’s commitment to creating a favorable environment for Japanese companies to invest in Vietnam. He also suggested that Japanese companies involve Vietnamese firms in the supply chain. As Vietnam aims to become a developed country with a high income per capita by 2045, the Prime Minister sought Japan’s assistance in improving institutions and requested Official Development Assistance loans for significant infrastructure projects like high-speed railways.

Furthermore, he urged Japan to simplify visa procedures for Vietnamese citizens and eventually grant them visa exemptions to facilitate increased mobility for living, studying, and working in Japan. In May, Vietnam and Japan signed three Official Development Assistance projects worth a total of JPY61 billion (US$500 million). Japan has been the largest provider of Official Development Assistance to Vietnam, offering approximately $21.6 billion in loans, non-refundable aid, and technical assistance since 1992.