Japan’s Mitsubishi wants to build a factory to make light aircraft parts in Hanoi’s Thang Long Industrial Park as a prelude to the manufacture of civil aircraft in Vietnam.

Motoyuuki Oka, President of the Sumitomo Corporation and President of the Japan-Vietnam Economic Commission under the Nippon Keidanren, presented the plan to Prime Minister Nguyen Tan Dung in Hanoi on November 9.

The planned aircraft will carry between 80-90 passengers, said Motoyuki Oka.

PM Nguyen Tan Dung said the Vietnamese Government wants to promote comprehensive cooperation with Japan, particularly in economics, trade and investment. He praised the two countries’ efforts to implement the second phase of the joint Vietnam-Japan Initiative to improve the investment climate in Vietnam.

He expressed his hope that Vietnam and Japan will continue the third phase of the initiative with the negotiation of a mutually beneficial agreement for economic cooperation.

“Vietnam will provide the most favourable conditions for foreign investors, including Japanese, to do business in the country,” said Mr Dung.

Motoyuuki Oka briefed Mr Dung on the progress of the second phase of the joint Vietnam-Japan initiative.

“Over the last 18 months, the contents of 80 initiatives have been implemented, contributing to the betterment of the foreign investment climate in Vietnam,” he said. “In 2006, Japan invested some US$1.3 billion into the country, an increase of 40 percent against 2005.”

“Many Japanese big corporations affiliated with Nippon Keidanren, including the Sumitomo Group, have developed strategies to expand their business in Vietnam,” said Motoyuuki Oka.

Source: VOV