The Prime Minister signed a decision to establish the board on Monday.

The strategy, which was developed by the Ministry of Planning and Investment, is a step in realising a Joint Declaration made by the Vietnamese and Japanese Prime Ministers in October last year.

In the declaration, the Vietnamese side said it hoped co-operation and assistance from Japan would help shape and implement policies and work related to the country’s industrialisation towards 2020.

Under the strategy, the work will focus on the areas of electricity and power supplies, energy savings, food processing, shipbuilding, agricultural machinery and environmental protection.

Beside the five prioritised areas, Viet Nam and Japan are considering potential to further develop sectors such as motorbike and automobile production, textiles and garments, and steel production.

The two countries’ relevant agencies have together worked out action plans, measures and suitable policies to create favourable conditions for their co-operation in developing industry.

Japanese Minister of Economy, Trade and Industry Yukio Edano said Japan pledged to actively participate in drafting out the Strategy and specific action plans.

In the coming time, the Japan International Co-operation Agency (JICA) would take part in carrying out the groundwork for coming discussions between the two sides, he said.

He said Japan would always support investment and co-operation with Viet Nam in the area of technology and environmental-friendly projects.

Yasuaki Tanizaki, Japanese Ambassador to Viet Nam, expressed his hope that the two sides would soon reach agreements on portfolios and criteria of the basic industries and co-ordination and supervision mechanisms among the two countries’ agencies during the implementation of coming action plans.

Deputy PM Hai asked the members of the steering board to redouble their efforts and work with their Japanese partners to finalise work on which sectors should be the focus of the two countries’ co-operation so that this could be submitted to Prime Minister in November.

The country’s draft Strategy on Industrialisation under the Viet Nam – Japan co-operation framework will receive feedback from experts before getting official approval.