Vietnam, Japan firms sign deals to develop innovation cooperation ecosystem

Businesses from Vietnam and Japan signed numerous MoUs aimed at developing a cooperation ecosystem in innovation and high-tech industries on the sidelines of a forum in Hanoi on Monday.

Nguyen Thanh Binh, deputy CEO of Vietnamese conglomerate T&T Group, told the forum that her group is collaborating with Japanese partners on several green energy projects.

For instance, T&T is partnering with Japan’s Marubeni Corporation to jointly research and develop offshore wind power projects with a total capacity of 3,000-4,000 MW in the Gulf of Tonkin.

The Vietnam-Japan forum on cooperation in strategic industries, high technology, green transition, and semiconductors was organized on occasion of Japanese Prime Minister Ishiba Shigeru's official visit from April 27 to 29.

T&T, together with Japanese partners including Erex and Sumitomo Forestry, is proposing to invest in around 10 biomass power plants, and convert coal-fired power plants to biomass co-firing.

The group is also working with other Japanese partners such as Sojitz, Itochu, and Marubeni to implement the Direct Power Purchase Agreement (DPPA) mechanism.

At the event, Nguyen Trung Chính, chairman of leading tech firm CMC Corporation, expressed his hope that Japan will continue to support Vietnam in developing science-technology and innovation, and especially in transfer of high technology.

Chairman of tech giant FPT Corporation Truong Gia Binh noted that last week, two leading Japanese financial and industrial groups - Sumitomo Corporation and SBI Holdings - decided to cooperate with FPT and Nvidia to build an artificial intelligence plant in Japan. The facility aims to provide cutting-edge computing power for Japan's AI transformation.

Addressing the forum, Japanese PM Ishiba Shigeru expressed his strong belief that the potential for cooperation between Japan and Vietnam is limitless.

He noted that in the 1990s, Japan’s manufacturing sector expanded into Vietnam, contributing significantly to the Southeast Asian country's economic growth. "With a population of 100 million and an abundant, high-quality labor force, Vietnam is truly a promising investment destination."

During his visit to the Thang Long Industrial Park on Sunday afternoon, just hours after arriving in Hanoi, Shigeru said he deeply felt the close cooperation between Japanese and Vietnamese businesses operating there.

According to the Japanese Embassy, the PM visited Canon Vietnam’s factory and met with representatives of several Japanese companies active in the park, such as Denso Vietnam, MHI Aerospace Vietnam, and Toto Vietnam.

Amid growing global economic uncertainty, Shigeru emphasized that collaboration between Japan and Vietnam - two countries with tightly linked supply chains - offers a major opportunity to advance industrial capabilities.

He affirmed that enhancing Vietnam’s high-tech industry and improving its resilience to external shocks will benefit both nations. The Japanese government, together with the private sector, is committed to advancing this goal through close public-private partnership, including human resource development and decarbonization efforts.

According to Ishiba, during his talk with his Vietnamese counterpart Pham Minh Chinh on Monday, the two leaders agreed to upgrade the Japan-Vietnam economic partnership within the framework of their Comprehensive Strategic Partnership.

Regarding human resource training in semiconductors - a key focus area for Vietnam - the two sides are preparing to launch a training program for semiconductor technology engineers at the Vietnam-Japan University, a flagship collaborative project.

Japan will also receive around 250 PhD researchers in the semiconductor field, which accounts for half of Vietnam’s national strategic goal in this area. Additionally, the two countries will promote the exchange of next-generation talent in advanced science and technology.

To expand investment in Vietnam and enhance its industrial capabilities, Japan will support the construction of a polycrystalline silicon production plant - an essential material in the semiconductor supply chain - and accelerate decarbonization efforts in Vietnam’s industrial parks.

Japan is also cooperating with the National Innovation Center (NIC) to connect startups with leading enterprises from both countries, achieving initial results. The country will help to strengthen the NIC’s functions to promote Vietnam’s startup ecosystem.

In the field of decarbonization and energy cooperation, several major projects are underway, including offshore wind power, power transmission networks, and biomass energy.

PM Chinh called for deeper cooperation and support in fields such as technology transfer, green finance, human resource development, semiconductors, artificial intelligence, international financial centers, and green transition.

He also urged for continued Japanese support to help the NIC fulfill its role as the core of Vietnam’s innovation ecosystem.