Since becoming Chief Representative of JETRO Ho Chi Minh Office in June 2025, Mitsutoshi Okabe has actively worked to strengthen the Japan – Vietnam alliance by implementing key initiatives.

Open Innovation

We are promoting open innovation and collaborative partnerships between Japanese companies and Vietnamese companies/startups (SU) in the Digital Transformation (DX) and Green Transformation (GX) fields.

In Ho Chi Minh City and the Mekong Delta region, many provinces, cities, and companies are interested in collaborating with Japanese companies in areas such as agriculture and the environment to improve productivity and reduce CO2 emissions.

Japanese companies are also interested in collaborating with Vietnamese SUs that have technical expertise in fields such as AI to expand business in both Japan and Vietnam. I believe this is an area where both Japan and Vietnam can achieve a win-win situation.

JETRO is implementing a project to promote collaboration between Japanese companies and Vietnamese SUs as part of the “Innovation/DX Promotion” working group of the “New Japan-Vietnam Joint Initiative,” a public-private partnership initiative launched in March 2024, in collaboration with Embassy of Japan in Vietnam, the Japan Chamber of Commerce and Industry in Vietnam (JCCI), and the Vietnam National Innovation Center (NIC).

In fiscal 2025, the JETRO Ho Chi Minh Office will hold a pitch event for Vietnam SU in July on the theme of “AI” and in September on the theme of “Supply Chain x AI.”

In addition, in September, Japanese VC and funds that are engaged in investment and growth support for Vietnam SU will be invited to speak at an event to introduce the appeal, challenges, and future potential of the Vietnam SU ecosystem for Japanese companies.

Highly Skilled Foreign Talent Project

The excellent and diligent national character of Vietnamese people has led to high expectations from Japanese companies for Vietnamese talent in the manufacturing and IT fields.

The number of Vietnamese talents working in Japan with specialized or technical residency status as highly skilled foreign talent is steadily increasing. JETRO Ho Chi Minh Office conducted a seminar on highly skilled foreign talent for Japanese companies in July 2025 in collaboration with Can Tho University, and we plan to continue such initiatives in the future.

Opportunities and challenges being faced by Japanese firms in Vietnam

According to a survey by JETRO, the risks associated with Vietnam’s investment environment include “cumbersome administrative procedures,” “rising labor costs,” and “incomplete legal systems and opaque enforcement.”

In particular, “cumbersome administrative procedures” and “incomplete legal systems and opaque enforcement” exceed the ASEAN average. It is essential to address these issues. We will work to improve the business environment for Japanese companies entering the market in cooperation with the relevant organizations.

“Intensifying competition with other companies” can also be cited as a factor. Not only is competition with Chinese and South Korean companies intensifying, but Vietnamese companies are also improving their technological capabilities.

In July 2025, Vietnam’s provinces and cities will be reorganized, and the new Ho Chi Minh City will merge the former Ba Ria-Vung Tau Province and the former Binh Duong Province, becoming the largest economic hub in the country with a regional gross domestic product (GRDP) accounting for approximately 24 percent of the national GDP.

This reorganization holds potential for business expansion not only in manufacturing but also in the service sector, particularly in fields such as food and beverage and retail. The JETRO Ho Chi Minh Office also plans to actively engage in consultation and support for companies looking to enter the market.

JETRO Ho Chi Minh Office
14th Fl, Sun Wah Tower, 115 Nguyen Hue St., Saigon Ward
Ho Chi Minh City, VIETNAM
www.jetro.go.jp/en