Experience in Supporting Industry Development in Japan and Lessons for Viet Nam

Abstract

Japan is the world's 3rd largest economy with a nominal GDP of USD 5380 billion. Japan's economy has a rapid industrial development process after its defeat in World War II. Vietnam's economy in 2020 will achieve GDP growth of 2.9%, nominal GDP of 300 billion dollars, per capita income reached $2786, if calculated according to purchasing power parity (PPP), the average income of Vietnamese people is about $ 8,500. In 2020, Vietnam has a trade surplus of 19.1 billion USD (an important contribution to this result is the total two-way turnover of 39.6 billion USD, a trade deficit of 1.1 billion USD from Japan. No small contribution to the economic success of Vietnam as a strategic partner of Japan - the third largest economy in the world. Japan is the first country in the G7 group to recognize Vietnam as a market economy and partner, the largest ODA sponsor for Vietnam, the number 1 investor in Vietnam and the 3rd largest trading partner of Vietnam. This paper also refers the lessons learned for Vietnam.