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Prime Minister Seeking Investment in Advanced Technology from Major Japanese Firms

On October 10 2018, Prime Minister Nguyen Xuan Phuc had a business breakfast with 26 major Japanese corporations to discuss the cooperation between the two countries’ business, especially in advanced technology industry.

In the framework of the Japan visit and the 10th Mekong – Japan Summit, Prime Minister Nguyen Xuan Phuc joined a business breakfast with 26 leading Japanese firms in aerospace & aviation, insurance, banking & financing, retail and logistics including ANA Holdings, Japan Airlines, Mizuho Bank, AEON, Asahi Group Holdings etc. The breakfast was held by FPT – the largest Vietnamese company in Japan, discussing on various framework and policy concerning information technology (IT) and investment for both Vietnamese and Japanese firms, establishing potential opportunities for both sides to network, exchange views on cooperation and partnership in the 4.0 Industrial Revolution.

Japanese companies’ issues and concerns encountered in the investment procedures were brought up and resolved, clearing up the cooperation path and accelerating successful businesses in Vietnam. On the other side, new opportunities for Vietnamese corporations were discussed and suggested by both sides, establishing novel business routes to enter the Japanese market.

Prime Minister Nguyen Xuan Phuc stressed that Vietnam was calling for and welcoming investment from Japanese enterprises to invest in all sectors, especially in advanced technology sector.

Vietnam and Japan has been long term partners since establishing diplomatic relations in 1973. Japan has been the largest foreign investors in Vietnam since 2017, with more than 2500 corporations investing and working in Vietnam. In technology sector, with the needs of new technology such as IoT, AI, Digital Transformation etc., Vietnamese skilled workforce is expected to open up the future of IT cooperation between Vietnamese and Japanese companies in the future. The number of collaboration projects concerning new technology is reported to grow rapidly.

As the first Vietnamese IT company to be opened in Japan, FPT started the fundamental for other Vietnamese IT firms into Japanese market and built the relation between organizations, groups and corporations in Japan. FPT Japan acts as the bridge to strengthen the partnership between the two countries. As the biggest IT corporation in Vietnam with capabilities of Big Data, IoT, Artificial Intelligence (AI), Robotics and Smart Factory, FPT has the ability to support Japanese enterprises in the Digital Transformation journey.

FPT Japan established their first office in 2005. In 2017, revenue of FPT Japan reached $158 million, accounting for 50 percent of FPT’s total foreign revenue, increasing 25 percent from 2016. Currently FPT Japan has total 1200 employees, working in 7 offices: Tokyo, Yokohama, Shizuoka, Nagoya, Osaka, Fukuoka and Okinawa. In 2018, 3 more offices Sapporo, Toyota-City, Hiroshima are expected to be open. The goal of FPT in Japan market in the next two or three years is to achieve the revenue of $500 million, attract the workforce of 3000 and become one of twenty biggest IT companies in Japan.

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