Japan’s Takaichi pledges deeper energy cooperation with Vietnam | Energy News
Takaichi Strengthens Ties with Vietnam During Hanoi Visit
Hanoi, Vietnam — May 2, 2026 — Japanese Prime Minister Sanae Takaichi visited Hanoi on Saturday to enhance bilateral ties with Vietnam, signing six agreements focusing on key areas such as technology, agriculture, and space.
In her meeting with Vietnamese Prime Minister Le Minh Hung, Takaichi emphasized the importance of economic security, highlighting a shared commitment to bolster cooperation between the two nations.
“The two sides identified economic security as a new priority area for bilateral cooperation,” Takaichi said. She noted the agreement to strengthen coordination on critical minerals to ensure stable supplies and reinforce supply chains.
Hung echoed similar sentiments, reaffirming the need for peaceful resolution of disputes in the South China Sea based on international law. Both leaders expressed concerns regarding China’s territorial claims in the East and South China Seas, and discussed strategies to mitigate potential trade disruptions stemming from U.S. policies by expanding their economic and security partnerships.
This renewed focus on cooperation comes at a crucial time, as Japanese investment in Vietnam has seen a significant decline. According to Vietnamese government statistics, new investment from Japan fell approximately 75% year-on-year to $233 million in the first quarter, despite a 12.3% increase in bilateral trade, which reached $13.7 billion during the same period.
Vietnam has sought assistance from Japan and other nations for oil supplies due to rising prices and supply chain disruptions caused by conflicts in the Middle East. As part of the $10 billion Power Asia Initiative, Japan is expected to help secure crude oil supplies for Vietnam’s Nghi Son Refinery and Petrochemical Complex.
Additionally, Takaichi plans to meet with President To Lam, who also serves as the general secretary of the Communist Party of Vietnam, later today. She is scheduled to deliver a keynote speech at Vietnam National University, commemorating a decade since former Prime Minister Shinzo Abe introduced Japan’s “Free and Open Indo-Pacific” strategy.
