TOKYO — General Secretary of the Communist Party of Vietnam Central Committee and President Tô Lâm met with representatives of Japanese corporations and businesses in Tokyo on November 11 as part of his official visit to Japan.
At a meeting with Hironori Kamezawa, President and Group Chief Executive of Mitsubishi UFJ Financial Group (MUFG), Lâm praised the group’s contributions to Việt Nam’s finance and banking sector and called for further investment and expansion to support bilateral economic cooperation.
Kamezawa said MUFG aimed to expand beyond traditional financial services to provide more comprehensive services, support capital mobilisation and strengthen business connections. The group, which has a partnership with Vietinbank, hopes to work with Vietnamese authorities to make better use of both banks’ strengths in serving domestic and foreign businesses, he said.
Lâm said Japan had played an important role in Việt Nam’s infrastructure development through government funding, official development assistance (ODA) and investment by Japanese financial institutions and businesses. He expressed the hope that MUFG would take on a broader role in mobilising development capital and connecting financial and technology resources between the two countries.
He called for the partnership to move beyond financial services and business connectivity towards mobilising long-term capital for strategic infrastructure projects, attracting Japanese investment in high-tech industries and supporting the development of Việt Nam’s international financial centre.
Noting the potential to mobilise more private capital from domestic and foreign sources, Lâm also encouraged MUFG to help strengthen Việt Nam’s presence in Japanese and international capital markets. He reaffirmed the Government’s commitment to working with the group to facilitate effective investment and business operations in the country.
At a separate meeting with Shingo Ueno, Representative Director, President and CEO of Sumitomo Corporation, Lâm welcomed the corporation’s contributions to Việt Nam’s development and its commitment to creating long-term value.
He said Việt Nam expected strategic partners to maintain long-term commitments and accompany the country through different stages of development, rather than invest only when market conditions were favourable.
Ueno said Sumitomo had worked with Việt Nam through various stages of its development. Its activities include the North Hanoi Smart City project and FujiMart supermarket chain, both developed in partnership with BRG Group, as well as insurance and investments in domestic technology companies to support the digital economy.
He reaffirmed Sumitomo’s commitment to Việt Nam’s sustainable growth through cooperation in industrial parks, infrastructure, sustainable urban development, retail, insurance and digital transformation.
Lâm said the corporation’s cooperation with Việt Nam had evolved in line with the country’s changing development needs, adding that this approach should continue in the years ahead.
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| General Secretary of the Communist Part of Vietnam Central Committee and President Tô Lâm (right) receives hingo Ueno, Representative Director, President and CEO of Sumitomo Corporation in Tokyo on November 11. — VNA/VNS Photo |
Lâm proposed that Việt Nam and Sumitomo develop a long-term cooperation programme covering four areas: industrial parks and infrastructure; sustainable urban development; energy transition; and digital transformation, alongside services such as retail and insurance.
He urged Sumitomo to identify specific projects, their proposed scale and locations, and the conditions needed for Vietnamese authorities to assess them. The two sides should agree on projects, responsible agencies and implementation timelines rather than limit cooperation to broad development goals.
He said Sumitomo’s success in Việt Nam would also contribute to the country’s sustainable growth and strengthen bilateral ties.
At a meeting with representatives of SoftBank Group Corp., Lâm praised the group’s evolution from a software distributor into a global investor in technology, telecommunications and AI, noting its long-term investment strategy and early identification of emerging technologies.
He said Việt Nam hoped SoftBank would become a partner in developing its AI infrastructure and technology ecosystem, rather than simply an investor.
SoftBank representatives outlined four areas of focus: AI models and applications, including its strategic partnership with OpenAI and enterprise AI agents; semiconductor technology through ARM; AI infrastructure, including data centres, power systems and computing capacity under the Stargate project; and physical AI and robotics.
The group expressed interest in working with Vietnamese partners on AI data centres and related digital infrastructure, including power solutions, connectivity, technology cooperation, human resources and innovation.
Welcoming SoftBank’s interest, Lâm said cooperation potential extended well beyond the group’s current ICT services presence in Việt Nam, particularly given its focus on artificial superintelligence. He encouraged the group to expand into joint research and development of AI and digital infrastructure serving both domestic and regional markets.
He also called on SoftBank to study the development of large-scale AI data centres as part of an integrated infrastructure ecosystem, with clear technology solutions, power supply plans and phased investment. Cooperation should also cover connectivity, technology transfer, innovation and human resources development.
Việt Nam needs not only workers to operate these facilities but also engineers and experts capable of designing, operating and mastering data centre systems and AI technologies, he said. Lâm reaffirmed the country’s commitment to administrative reform, improving the investment environment and protecting investors’ legitimate rights and interests. — VNA/VNS
