Japan And Vietnam Reinforce Strategic Cooperation
Japanese Prime Minister Sanae Takaichi pledged on Saturday to deepen bilateral engagement with Vietnam, placing energy collaboration and critical minerals at the centre of discussions. She made the commitment during talks with Vietnamese Prime Minister Le Minh Hung, as both sides sought to reinforce their growing partnership.
However, the meeting followed a notable decline in Japanese investment. New investment from Japan into Vietnam dropped by approximately 75 per cent year on year, reaching 233 million dollars in the first quarter. Nevertheless, bilateral trade showed resilience and increased by 12.3 per cent to 13.7 billion dollars during the same period, based on official Vietnamese data.
Focus On Economic Security And Key Sectors
The two leaders explored ways to expand the Comprehensive Strategic Partnership established in 2023. They concentrated on key sectors such as energy, critical minerals, artificial intelligence, semiconductors, and space development. Moreover, both governments identified economic security as an emerging priority within their cooperation framework.
Takaichi emphasised the importance of stable supply chains, particularly regarding critical minerals. She noted that both nations agreed to enhance coordination to secure reliable access and strengthen supply resilience. As a result, this approach aims to safeguard industrial growth and technological advancement in both countries.
Agreements And Regional Energy Support
In addition, Japan and Vietnam signed six agreements covering infrastructure, climate initiatives, agriculture, technology, digital transformation, and space cooperation. These agreements reflect a broader effort to diversify collaboration and strengthen long term development goals.
Japan continues to play a significant role as one of Vietnam’s largest foreign investors, with numerous corporations operating major manufacturing facilities across the country. At the same time, Vietnam has been actively seeking assistance to stabilise energy supplies, particularly as tensions in the Middle East disrupt global oil markets and increase prices.
Under the 10 billion dollar Power Asia Initiative, Japan will support Vietnam in securing crude oil supplies for the Nghi Son Refinery and Petrochemical Complex. This move is expected to enhance Vietnam’s energy security and reduce vulnerability to external shocks.
Strategic Vision And Regional Alignment
Later in the day, Takaichi was scheduled to meet senior Vietnamese leadership, including Party Secretary and President To Lam. She was also set to deliver a keynote address at Vietnam National University, marking ten years since the introduction of Japan’s Free and Open Indo-Pacific strategy.
Her speech is expected to highlight the importance of autonomy and resilience among regional nations. Meanwhile, Vietnam reaffirmed its support for Japan’s regional vision, aligning it with the ASEAN Outlook on the Indo-Pacific. This alignment underscores a shared commitment to international law, regional stability, and cooperative development.
With inputs from Reuters
