Japan pledges $5 billion in annual investment to Vietnam
Prime Minister Sanae Takaichi of Japan continued the "Free and Open Indo-Pacific" initiative proposed by former Prime Minister Shinzo Abe, unveiling a comprehensive plan aimed at strengthening economic cooperation with ASEAN countries, expanding the scope of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and reinforcing military and security assistance programs. At the same time, she pledged $5 billion in annual investment to Vietnam.
Milan (Asia News/Agency) – Prime Minister Sanae Takaichi of Japan is currently visiting Vietnam and Australia. The Tokyo government places great importance on this visit, especially amid the current international circumstances. There is particular anticipation for her speech on Saturday, May 2, delivered at the Vietnam National University in Hanoi, which is seen as an update to the "Free and Open Indo-Pacific" (FOIP) strategy originally proposed by her predecessor and mentor, Shinzo Abe, three decades ago.
In her address in Hanoi, Prime Minister Takaichi outlined an ambitious plan to enhance Japan’s role in the Indo-Pacific region and committed to being more “proactive” in building an international order based on freedom, openness, diversity, inclusivity, and respect for the rule of law. She noted that the international landscape has undergone “profound changes” compared to ten years ago, including China’s rise, heightened global geopolitical tensions, and uncertainty surrounding U.S. foreign policy.
Takaichi emphasized that partner nations must adapt to these new realities—characterized by geopolitical competition, rapid technological innovation, and the growing influence of the so-called “Global South.” In this context, she stressed the need for countries to strengthen autonomy and resilience across economic, social, and security domains, enabling them to independently shape their own futures.
The Prime Minister stated that Japan’s new Indo-Pacific strategy will focus on cooperation in three key areas. First, Japan aims to collaborate with ASEAN nations to build a stronger economic ecosystem, particularly focusing on energy and critical mineral supply chains. This also includes cooperation in advanced technologies such as artificial intelligence and digital infrastructure—including undersea cables.
Second, Japan seeks to strengthen the rules-based international economic order. The Prime Minister has expressed support for expanding the CPTPP. The agreement, signed in 2023 by 11 countries—Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam—has since expanded to include the United Kingdom. Tokyo is actively pushing for deeper cooperation with countries such as the Philippines, Indonesia, and the UAE.
Finally, the third area concerns security: Japan has announced plans to expand its military aid and development programs to help partners enhance capabilities, including maritime security.
In this context, strengthening relations with Vietnam is especially significant. Prime Minister Takaichi met with Vietnam’s Prime Minister, and both sides signed new agreements in areas including maritime security, cybersecurity, economic security, and energy. Japan also pledged to increase its investment in Vietnam to $5 billion annually and aims to raise bilateral trade to $60 billion by 2030.
Source: Asia News
Original: toutiao.com/article/1864328823863296/
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