Japanese and Vietnamese companies and agencies have announced 12 agreements and memorandums of understanding worth a combined US$3.7 billion on October 19 during Japanese Prime Minister Suga Yoshihide’s Hanoi visit. 

Japanese Prime Minister Suga Yoshihide and Vietnamese PM Nguyen Xuan Phuc witness the deals. Photo: Minh Tuan

The cooperation covers fields ranging from digital economy, environment to energy and infrastructure. 

Among them, the biggest one is a US$1.9 billion 1,500MW gas-fired power station in Quang Ninh province with the participation of Tokyo Gas Co. and Marubeni Corp.

In addition, Marubeni will invest in the US$1.3-billion O Mon 2 power plant in the Mekong Delta city of Can Tho. 

Meanwhile, AeonMall Vietnam will develop a US250-million mall in Ho Chi Minh City.

“We, Japanese government and enterprises, continue to support Vietnam’s economic development with a flagship infrastructure project being the urban railway in Ho Chi Minh City,” said Mr. Suga at a ceremony also attend by Vietnamese PM Nguyen Xuan Phuc. 

Japan is one of Vietnam’s most important economic partners, the largest official development assistance donor, second biggest investor, third largest tourist source and fourth largest trade partner.