(MPI) - Many international organisations and foreign investors committed continued support for developing the Red River Delta while attending a conference in Quang Ninh province in February 12 on the implementation of the Government’s Action Programme to realise the Politburo’s Resolution on directions for socio-economic development and defence and security assurance in the Red River Delta to 2030, with a vision to 2045.

Signing of cooperation agreements and investment certificates with domestic and foreign enterprises and partners. Photo: VGP

Supporting the breakthrough development of the Red River Delta

Keiju Mitsuhashi, Deputy Country Director of the Asian Development Bank (ADB) in Vietnam said, ADB’s country partnership strategy (CPS) 2023-2026 for Viet Nam focuses on fostering inclusive, green, and private sector-driven growth and promoting social equality; and building the foundation for achieving Viet Nam’s goal of becoming an upper middle-income country by 2030.

He highlighted that the Red River Delta has a strategic importance within Viet Nam’s economy. ADB has been the region for improved transportation, productive rural infrastructure, urban development, energy, health, education, and vocational training. Looking forward, ADB will continue to seek closer collaboration with the central and provincial governments to consider financing projects in the Red River Delta to support the region in addressing climate change impacts, regional connectivity, and urban development,

In addition to sovereign lending to cities and provinces in the region, ADB looked for opportunities for nonsovereign lending to private corporations, collaboration for creating investible cities, and transaction advisory services to promote public-private partnerships (PPP), he added.

“ADB stands ready to work with the Ministry of Planning and Investment, Ministry of Finance, the Red River Delta provinces, other government agencies, and the private sector to support the region in its ongoing development journey,” Keiju noted.

Making the R&D center in Vietnam global hub

Choi Joo Ho, Chief of Samsung Vietnam shared the missions of Samsung’s newly opened research and development (R&D) in Vietnam.

The first is expanding its areas of research and increasing expertise, making the center not just the top research center in Southeast Asia, but also one of the world’s biggest research hubs, he stressed.

The second mission is contributing to laying the foundation for Vietnam’s tech talent and industrial development. Samsung plans to expand support to nurture Vietnam’s future tech talent, through scholarships for promising students majoring in technology, university corporate partnership for business projects and internship programs.

Choi highlighted Samsung’s commitments to contributing to Vietnam’s high-tech businesses and Industry 4.0 through continued investment, talent development and R&D.

He pledged to further strengthen Samsung partnership with Vietnamese companies to help local manufacturers grow their business and become part of Samsung’s global value chain. “Samsung is a trusted partner for the Vietnamese government in the journey to achieve mutual success and prosper together,” he said.

Vietnam - an integral part of the global supply chain

Addressing at the conference, Nakajima Takeo, Chief representative of the Japan External Trade Organization (JETRO) in Hanoi said, after overcoming the difficulties of the past three years, Vietnam has become an integral part of the global supply chain of Japanese companies.

According to a survey conducted by JETRO last year of 3,100 Japanese headquarters, it showed Vietnam ranked fourth in the world as an export destination for Japanese companies. Vietnam ranked second only to the United States for FDI destination.

The number is an indication of the incredibly high regard for the country. Japanese companies suggested Vietnam's market will grow and is home to many companies and business partners, said Takeo.

He went on that in a survey of 600 Japanese companies in Vietnam, 60% of respondents said they would expand their business in the next one to two years, the highest proportion in ASEAN.

In particular, the survey showed that Japanese firms in Vietnam are more interested in creating value-added products than general purpose ones and putting more resources into sales, R&D, and logistics functions.

Japanese companies are investing actively in the Red River Delta for the next 5 to 10 years of development, JETRO chief representative added.

“We have witnessed several collaborative projects between Vietnamese startups and Japanese global firms in healthcare, transportation, finance, retail, and education. These next-generation will bring Japan's advanced technologies to Vietnam and contribute to a sustainable value-added economy”, he highlighted.

JETRO is pleased that Vietnam is increasingly becoming a trusted business partner of Japan, Korea, China, Europe, and the United States.

JETRO will continue to support the development of Vietnam and the Red River Delta, especially 2023 marks the 50th anniversary of establishing diplomatic relations between Vietnam and Japan./

Bao Linh

Ministry of Planning and Investment