Prime Ministers Sakaichi and Hung Meet in Hanoi, Sign Six Agreements
Hanoi, Vietnam — Japan's Prime Minister Sanae Takaichi and Vietnam's Prime Minister Le Minh Hung met in Hanoi on Saturday, signing six agreements covering technology, agriculture, space, and infrastructure.
Economic security has been identified as a new priority area for bilateral cooperation.
The two leaders also pledged to strengthen coordination on critical minerals and supply chain resilience.
Energy and Critical Minerals
Under the $10 billion Power Asia Initiative, Japan will assist in arranging crude oil supplies for Vietnam's Nghi Son Refinery and Petrochemical Complex. Both sides agreed to reinforce supply chains and ensure stable supplies of critical minerals.
Statements from the Leaders
"Economic security is a new priority area for cooperation," said Prime Minister Takaichi.
Prime Minister Hung stated that the leaders reaffirmed the importance of resolving disputes in the South China Sea through peaceful means, based on international law.
Background
Japan and Vietnam share concerns regarding China's territorial claims in the East and South China Seas. Japanese new investment in Vietnam fell approximately 75% year-on-year to $233 million in Q1 2025, while bilateral trade rose 12.3% to $13.7 billion.