TOKYO: Japan and Vietnam agreed to deepen cooperation in trade, technology, defense and energy security as their leaders met in Tokyo on Monday (Nov 9), seeking to strengthen economic and strategic ties amid rising regional geopolitical and trade tensions.
"This visit to Japan will serve as an opportunity for cooperation between our two countries to advance significantly and robustly under our comprehensive strategic partnership for peace and prosperity in Asia and the world,” Japanese Prime Minister Sanae Takaichi said after talks with Vietnamese President and General Secretary To Lam.
The two nations announced 10 deals and pledged to boost bilateral trade to as much as US$100 billion by 2030 during the first visit by a Vietnamese Communist Party chief in 11 years. They also discussed gas-fired and LNG power generation projects involving Japanese companies, as well as nuclear energy cooperation, Takaichi said.
In a speech to Japan’s parliament earlier Monday, Lam said Vietnam seeks to boost technology and green energy, and aims to advance projects in critical minerals, including deeper processing and tech transfer.
The trip builds on a rapid strengthening of ties between the two countries after Takaichi visited Hanoi in May. During that visit, the two sides agreed to make economic security a new priority, identifying artificial intelligence, semiconductors and space as areas for deeper cooperation.
Energy security and supply-chain resilience were high on the agenda as geopolitical tensions and disruptions to global supplies expose Vietnam’s vulnerability to external shocks.
Japan has pledged support for crude oil deliveries to the Nghi Son refinery and is looking to deepen cooperation on rare earths and other critical minerals, where Vietnam has significant reserves but limited processing capacity.
During Lam’s trip, Japanese trading house Sojitz Corporation signed a memorandum of understanding to acquire a five per cent stake in tungsten and fluorspar producer Masan High-Tech Materials, while Japan’s ANA and flag carrier Vietnam Airlines announced a joint venture pact.
People-to-people exchanges and immigration are also crucial elements in relations between Japan and Vietnam, with Vietnamese making up the second largest group of foreign nationals in Japan, behind Chinese.
As of the end of 2025, there were over 680,000 Vietnamese nationals based in Japan, making up 16.5 per cent of the 4.12 million resident foreigners.
Vietnam provides a much-needed supply of young workers for Japan as its working population shrinks. Vietnamese people make up the biggest group of labourers working under the Specified Skilled Worker Programme, which is aimed at funneling foreign labour into sectors including agriculture, nursing and manufacturing that are seeing a severe shortage of workers.
For Vietnam, Japan is one of the South-East Asian nation’s most important economic partners, ranking as its largest provider of official development assistance and third biggest investor in the nation.
Bilateral trade reached US$33.7 billion in the first eight months, according to state media. Hanoi is keen to attract more Japanese capital and expertise as it seeks to move up the manufacturing chain and develop higher-value industries, including semiconductors and artificial intelligence. - Bloomberg
