Hanoi (VNA) – Enhancing Vietnam’s labour productivity is the priority of the Vietnam – Japan JointInitiative that aims to improve Vietnam’s investment environment, a Japanesediplomat has said.

“Vietnam’s labour productivity remains low inSoutheast Asia,” Japanese Ambassador to Vietnam Kunio Umeda toldthe meeting to launch the seventh phase of the initiative in Hanoi on July 31. Vietnam needs measures to improve its labourproductivity as it is key to sustainable development and internationalcompetitiveness.

The Vietnam-Japan Joint Initiative was launched inApril 2003 as part of joint efforts by the two governments to improve Vietnam’sinvestment climate and expand Japanese investment in the country.

Over the past six phases, more than 470 action plans havebeen carried out.

Theseventh phase, scheduled from August 2018 to the end of 2019, aims tocover 10 items, including some left by the previous phase and new contents.

Ninehave been agreed by Vietnamese and Japanese agencies involved in the phaseduring the meeting.

According to the Japanese Ambassador, thecontents of the seventh phase reflect the development of Vietnam’s economy.

Heexpressed his hope the initiative will bring positive outcomes as they aim toimprove the living standards of Vietnamese people while enhancing the nation’s internationalcompetitiveness.

For hispart, Minister of the Planning and Investment Nguyen Chi Dung praised effortsmade by Vietnamese ministries and agencies and Japanese working groups to reachconsensus on the action plan for the seventh phase.

TheMinister suggested the Vietnam – Japan Joint Initiative carry out the phasewith a new approach and implementation method suitable with global integration.

Dungalso highlighted the significant achievements in growing Vietnam – Japan ties,particularly in 2018, when the two nations mark the 45th anniversary of their relations.

“Withthe signing of the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP), Vietnam is becoming an attractive destination forbusinesses, particularly those from Japan,” Dung said.

Duringthe meeting, the Japanese side made 65 policy recommendations, focusing onregulations on investment in Vietnam for foreign investors as prescribed in theInvestment Law, the Law on Enterprises, the Land Law and other laws.


Therecommendations also cover the reform of State enterprises and the stockmarket, the intensification of industrialisation with internationalcompetitiveness, labour and wages, and the legal frameworkon the public-private partnership (PPP) model.

The twosides agreed on three meetings, slated for late 2018, mid 2019 and late 2019 toreview the implementation of its seventh phase.-VNA