Vietnam, Japan Target US$ 60 Bn Trade By 2030
Vietnam and Japan have strengthened their economic partnership with the signing of six bilateral agreements, setting ambitious targets of US$ 5 billion in annual Japanese investment and US$ 60 billion in bilateral trade by 2030.
The agreements were formalised during high-level talks between Le Minh Hung and Sanae Takaichi, marking a significant step forward in deepening ties between the two countries.
Both sides agreed to expand cooperation in high-tech sectors, with a focus on technology transfer, semiconductors, artificial intelligence and digital transformation. The partnership will also facilitate greater market access for agricultural products and encourage Vietnamese companies to invest in Japan.
Japan continues to play a key role in Vietnam’s economic development, remaining a leading provider of official development assistance, a major investor and one of its top trading partners. Recent years have seen strong momentum, with bilateral trade surpassing $50 billion in 2025 and investment flows rising significantly.
The two countries also committed to strengthening collaboration in defence, security and diplomacy, alongside existing cooperation mechanisms across trade, industry, energy and technology. A new deputy minister-level dialogue framework on foreign affairs and defence is set to be introduced.
Looking ahead, the partnership will prioritise emerging areas such as energy security, critical minerals, renewable energy and space technologies. Several joint initiatives are already underway, including projects in green transition and advanced manufacturing.
Further engagement is planned through a Joint Committee on Science and Technology Cooperation in 2026, along with public-private collaboration platforms aimed at accelerating innovation and industrial development.
With these developments, Vietnam and Japan are positioning their partnership as a key pillar in regional supply chains and future-focused economic growth.
