PM Phuc meets Japanese group leaders

PM Nguyen Xuan Phuc (R) meets Tatsuo Yasunaga, President and CEO of Mitsui & Co Ltd., (Photo: VGP)

Meeting with Tatsuo Yasunaga, President and CEO of Mitsui & Co Ltd., PM Phuc applauded the company’s business performance in Vietnam, especially in processing and distributing local aquatic products.

He welcomed a joint project between Mitsui and Minh Phu Seafood Corporation which could elevate the shrimp export value of the major shrimp farming business in Vietnam to US$1 billion.

Yasunaga briefed the guest leader on the success of the joint project, which has seen more than US$150 million invested in improving Minh Phu’s processing, business management and export capacity, adding both side is destined to focus on upgrading refrigeration equipment and expanding export markets, particularly targeting Russia in addition to the US.

PM Phuc receives Han Chang-woo, chairman and CEO of Maruhan Corporation (Photo:VGP)

In another meeting with Han Chang-woo, chairman and CEO of Maruhan Corporation, PM Phuc said Vietnam is pushing ahead with effective equitization of Stated-owned enterprises (SOEs), particularly in transport, infrastructure, construction, telecom, agriculture, trade-services, and tourism.

PM Phuc assured the Vietnamese Government’s willingness to provide favorable conditions for Japanese firms, including Maruhan, to set up strategic partnerships with the SOEs.

He also incentivized the company to join banking restructuring process in Vietnam, saying he wants Maruhan to not only contribute capital but also provide support in terms of technology and financial skills needed to building a digital banking industry in the future.

Phuc also met with Mitsuo Ohya, Senior Vice President of Toray Industries, Inc., who said that his group is considering a large-scale investment plan in Vietnam that uses advanced and sustainable technologies, and is expecting attention from the Vietnamese government in this regard.

PM Phuc and Mitsuo Ohya, Senior Vice President of Toray Industries, Inc. (Photo: VGP)

The Vietnamese cabinet leader welcomed the company’s investment in fabric weaving, an area of high demand in Vietnam. He noted that with its joining of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and signing of the EU-Vietnam Free Trade Agreement, Vietnam is seen as a potential market for the company.

He proposed that Toray Industries, when investing in Vietnam, study the building of modern industrial complexes, cooperate with domestic firms in supplying electronic components, and work with public agencies in training highly competent managers and engineers for the garment-textile industry.

Talking to Masayuki Hyodo, President and CEO of Sumitomo Corporation, PM Phuc lauded the company’s investment-business collaboration projects with leading Japanese and Vietnamese firms, particularly those on fintech and smart city development.

PM Phuc (R) and Masayuki Hyodo, President and CEO of Sumitomo Corporation

Hyodo underlined his commitment to make Sumitomo’s investment in Vietnam a success as a contribution to the country’s growth.

PM Phuc attended the celebration of the 25th anniversary of Vietnam Airlines’ Vietnam – Japan route the same day.