Vietnam has recently launched a new industrial plan that is devised with different strategies in order to reform the key industrial sectors through assistance and making strategic alliance with Japan. These improvements will certainly strengthen the economic infrastructure, productivity and service supply of the country, as reported by Vietnam Net Daily, last Tuesday.

The grand alliance between Vietnam and Japan for future collaboration starting from 2020 to 2030 and this cooperation will only be restricted to four industries that include agro-fishery processing, electronics, environmental and energy sector, and agriculture machineries. Hence, this specific industrial oriented cooperation will likely play a significant part in raising the foreign investment and will amplify the intervention of technologies and expertise in the market.

Vietnam aims to raise the annual value of these industries by 20 percent and ensure a 35-percent minimal contribution to the nation's total industrial value by 2020. Vietnam is very positive in experiencing the potential growth of such industries by 20 percent that have been settled under the charter of mutual cooperation. Moreover, the state is aiming to mitigate 35 percent of contribution from the country’s overall industrial worth by 2020.

Both the emerging economies are looking forward to devise a healthy and favorable environment for public and private shareholders through this cooperation and build some assessment criteria for getting the performance of each targeted industry, said by Nguyen Thi Tue Anh, deputy head of the Central Institute for Economic Management (CIEM).

The Vietnamese Department of processing and Agro-Forestry-Fishery Products and Salt Production department claimed that, the government is taking this collaboration very seriously and they have already initiated crucial projects in order to direct the law-suits that would be favorable for agriculture machinery sector and will encourage the farmers to ensure quality delivery of products under the best prices. The government is anticipated to haul up the level of agricultural GDP per capita up from $740 in 2010 to $2000 in 2020.

With regards to fishery sector, strong planning of the framework have been mapped out that will certainly cater the local fishing farmers to make use of world’s hi-tech equipments and perform market research to a greater extent. This will set the Vietnamese processed foods industry more aggressively worldwide.