Prime Minister hails Japanese investors’ operation in Vietnam

Prime Minister Nguyen Xuan Phuc (right) and President, CEO and Director of Marubeni, Kakinoki Masumi

Meeting with President, CEO and Director of Marubeni, Kakinoki Masumi, the leader spoke highly of the corporation’s operation in Vietnam over the past seven decades and suggested Marubeni continue its long-term investment in the country in other spheres, apart from energy. 

Masumi said the corporation is operating the Thai Binh 1 Thermal Power Plant, which was inaugurated last February, and implementing the Nghi Son 2 Thermal Power Plant project whose construction is scheduled to be completed in 2020. 

Marubeni wants to invest in electricity production using liquefied natural gas (LNG) and is selecting venues for the the project, he said. 

Along with infrastructure and energy, the corporation wishes to engage in other sectors in Vietnam, including large-scale water treatment, distribution, e-commerce, sports, entertainment, health care and smart city, Masumi added. 

Marubeni will come to Vietnam – the corporation’s leading important market - with all of its experience and cutting-edge technology, abide by local regulations and protect the environment at the request of the PM, he stressed. 

PM Phuc said Vietnam encourage plastic-free packaging projects, contributing to environmental protection. 

At a reception for President and Director of JXTG Holdings, Inc, Tsutomo Sugimori, PM Phuc applauded cooperation between JXTG and the Vietnam National Petroleum Group (Petrolimex).

PM Nguyen Xuan Phuc (right) and President and Director of JXTG Holdings, Inc, Tsutomo Sugimori

Sugimori briefed the leader on its cooperation plan with Petrolimex, and called on the PM to continue supporting the collaboration in the time ahead. 

JXTG aims to join hands with Petrolimex to help Vietnam diversify its petroleum supply chain and ensure energy security, he noted. 

In this regard, PM Phuc assigned Petrolimex to make a detailed report on the project, saying it is necessary to thoroughly assess the project in order to ensure investment efficiency. 

In a meeting with Nobiru Adachi, President Commissioner of J Trust, the PM highly valued the bank’s experience and financial capacity in restructuring and restoring the operation of banking organisations with financial difficulties in the region.

PM Nguyen Xuan Phuc (right) and President Commissioner of J Trust, Nobiru Adachi

He noted that the Vietnamese Government is accelerating the restructuring of the financial and banking system, aiming to make it more healthy. 

Speaking highly of J Trust’s wish to participate in bank restructuring in Vietnam, the PM suggested the Japanese bank promptly coordinate with the State Bank of Vietnam to carry out necessary steps. 

He also lauded J Trust’s wish to work as a bridge for Japanese small-and medium-sized enterprises to invest in Vietnam, and informed Adachi that Vietnam aims to have 1 million firms by 2020.

This would be an opportunity for banks as well as Japanese businesses in the country, he said. 

Adachi said Japanese enterprises have considered Vietnam an attractive investment destination, noting J Trust is interested in Vietnam’s financial and banking sectors and wants to engage in the restructuring of banks in the country.