JETRO Topics

Conclusion of memorandum of cooperation between Vietnam’s Ministry of Industry and Trade and JETRO

June 2017

On June 5, a memorandum of cooperation (MOC) was concluded between the Ministry of Industry and Trade of Vietnam and JETRO with the aim of further strengthening relations in terms of trade and economy. The MOC was formally exchanged between both parties on June 6 in the presence of Prime Minister Nguyen Xuan Phuc of the Socialist Republic of Vietnam and Prime Minister Shinzo Abe at the State Guest House in Tokyo.

While Japan’s trade to Vietnam until now has largely been in product categories which facilitate local processing; such as machinery, parts and raw materials; in line with the country’s economic development, it is expected that export of consumption goods and food products will also increase due to expanding domestic demand in Vietnam. Based on this and the fact that Vietnam is now proactively working to expand exports to Japan and draw investment from Japanese companies, the MOC was concluded with the vision of expanding mutual trade and accelerating investment between Vietnam and Japan, as well as bolstering support. Detailed cooperative activities are described below. These will be jointly handled by JETRO Hanoi and JETRO Ho Chi Minh from the Japan side, and the Vietnam Trade Promotion Agency (VIETRADE) from the Vietnam side.

  1. Facilitation of trade and investment between Vietnam and Japan
    We will facilitate trade and investment into Vietnamese industries by Japanese companies through sending missions to Vietnam and holding seminars in Japan. In the same manner, we will also facilitate export and investment into Japan by Vietnamese companies through holding seminars and disseminating information on business in Japan.
  2. Support for cooperation between Vietnamese and Japanese companies in service field
    We will jointly conduct supportive activities toward increasing opportunities for cooperation between Vietnamese and Japanese companies in the service field by providing information as well as sending missions which will promote private-sector collaboration.
  3. Facilitation of mutual trade through e-commerce
    With the aim of facilitating and promoting trade through e-commerce, Japan will assist Vietnam in developing systems and infrastructure related to e-commerce, and we will also provide information on business expansion in Japan.
  4. Cooperation toward fostering and enhancing Vietnamese SMEs and supporting industries
    In order to achieve the goal of cultivating supporting industries in Vietnam, we will jointly conduct cooperative activities which will lead to the improvement of the business environment and solutions to various issues affecting Vietnamese SMEs, particularly within supporting industries.
  5. Activities toward protecting intellectual property rights
    We will cooperatively conduct activities toward enforcing regulations on counterfeit products in Vietnam by taking into the account the needs of Japanese companies, Vietnamese government-affiliated agencies and market players under their auspices.
  6. Information exchange on regular basis
    We will hold a meeting in Vietnam on a regular basis aiming at exchanging information regarding the status and outlook of the Vietnamese government’s policy for industries and trade as well as development of legal systems. Through the meeting, we will contribute to facilitating trade and investment into Vietnam by Japanese companies and improving the Vietnamese business environment.