Strengthening Ties: Japan and Vietnam Enhance Bilateral Cooperation

Japanese Prime Minister Sanae Takaichi has vowed to bolster bilateral ties with Vietnam, with a particular focus on energy cooperation and critical minerals. This pledge emerged during a meeting with Vietnamese Prime Minister Le Minh Hung as both nations seek to strengthen their Comprehensive Strategic Partnership.

While new Japanese investment in Vietnam has notably decreased, dropping about 75% in the first quarter to $233 million, bilateral trade has risen by 12.3% to $13.7 billion. Discussions highlighted the need to deepen cooperation in areas like artificial intelligence, semiconductors, and space.

In a significant joint move, six agreements were signed covering infrastructure, climate action, and technology. Japan continues to be a leading foreign investor in Vietnam, with plans to ensure energy self-reliance under the $10 billion Power Asia Initiative. Takaichi is also scheduled to meet Vietnam's Party Secretary and deliver a speech at Vietnam National University.

(With inputs from agencies.)