Vietnam – Japan: Trade Relations and Development Potential

Trade relations Vietnam – Japan are always one of the hotly discussed topics between the two countries and other countries in the Asian region. It is also because of that relationship that the economies of the two countries have continuously developed and become increasingly stronger

Vietnam - Japan: Trade Relations and Development Potential
Vietnam – Japan: Trade Relations and Development Potential

Trade Relations Vietnam – Japan

As one of the important trade partners, Vietnam and Japan have been constantly strengthening and developing in many fields. In addition, Japan is also the largest ODA donor country and the 4th largest trade partner of Vietnam.

According to the latest turnover report, in 2023, bilateral trade turnover is estimated to reach 36.9 billion USD, of which Vietnam exports 19.2 billion USD to Japan and imports from Japan 17.7 billion USD. USD./.

This strong cooperative relationship is being actively supported through foreign direct investment (FDI) and Official Development Assistance (ODA) capital.

Items with large export turnover are mainly textiles, vehicles, spare parts, electronic products and components… In parallel with the export sector, the group of imported goods with large turnover is equipment, microchips, electronic products, plastic products….

Japan is still a bright market as it always maintains an encouraging growth rate. Vietnamese agricultural products exported to Japan are widely known and have good consumption

Main port in Vietnam

The main seaports in Vietnam that import and export goods from Japan are:

  • Quy Nhon (VNUIH)

Benefits of WR1

With the aim of becoming one of the LEADING E-CARRIER in Vietnam, serving as a reliable bridge and partner for customers and global freight forwarders (FWDs), WR1 has been actively applying comprehensive technology to transportation management. This ensures transparent, safe, and efficient control over transportation and cargo information.

  • Ocean Freight: We are pioneering the digitization of logistics, establishing a platform that enables customers to perform all stages of their cargo processes through electronic devices from anywhere.
  • Inland Trucking: WR1 employs “REAL-TIME LOCATION TRACKING TECHNOLOGY” to manage all domestic transport shipments. This allows customers to track the schedule of their goods anytime, anywhere.
  • Logistics Solutions: We continuously research and propose various solutions to optimize costs and transportation time for customers. This includes consolidating multiple less-than-truckload (LTL) shipments into one large full-truckload (FTL) shipment and reusing imported containers for export cargo…
WR1's WR1 warehouse in Vietnam
WR1’s WR1 warehouse in Vietnam

Japan’s investment situation in the Vietnam Market

In 2023, major Japanese corporations such as Tokyo Gas, Marubeni, and Aeon Mall, along with many other Japanese companies, announced new and additional investments in Vietnam.

Specifically, the joint venture between Tokyo Gas, Kyuden International, and Trung Thanh Group Vietnam has been granted an investment license to build a USD 1.99 billion LNG power plant in Thai Binh province.

Meanwhile, Japanese retail giant AeonMall also revealed plans to explore establishing new shopping centers. The Japanese retailer has set a goal to expand its network to 25 hypermarkets in Vietnam by 2025, more than four times its current 6 stores. Vietnamese electric vehicle manufacturers Vinfast and Marubeni signed a cooperation agreement in a circular economy project related to batteries.

The DEEP C Industrial Complex will collaborate with Nippon Sanso Vietnam and Mitsubishi Vietnam to conduct a feasibility study on hydrogen production at the DEEP C Industrial Zone in Hai Phong. Especially, FPT Software and Yamato Holdings also announced a cooperation agreement for digital transformation, workforce training, and logistics in Vietnam.

A recent survey conducted by the Japan External Trade Organization (JETRO) revealed that nearly 57% of Japanese businesses are eager to continue expanding their operations in Vietnam. These developments further highlight Vietnam’s attractiveness to Japanese companies.

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