Japan and Vietnam have agreed to significantly strengthen their economic partnership, setting a goal to reach $60 billion in trade by 2030. The deal was finalized during a meeting in Hanoi between Japanese Prime Minister Sanae Takaichi and Vietnamese leader Le Minh Hung.
As part of the agreement, Japan plans to invest around $5 billion per year in Vietnam, focusing on high-tech industries and sharing advanced technology. Both countries also want to strengthen supply chains, especially for important resources like minerals and energy.
A key project is support for the Nghi Son Refinery and Petrochemical Complex, one of Vietnam’s largest oil facilities. This move is linked to wider global concerns about energy supply, especially with tensions affecting major routes like the Strait of Hormuz.
The two nations are also exploring long-term cooperation in nuclear energy, possibly starting around 2040, and Japan may include Vietnam in its security assistance program to strengthen defense cooperation.
This partnership reflects Japan’s effort to reduce reliance on unstable regions and build stronger economic and strategic ties in Asia.
Source: AA
