TradeWaltz signs MoU with FPT Corporation Vietnam following the announcement of ASEAN-Japan Economic Co-Creation Vision

TradeWaltz Inc., operator of the trade information collaboration platform “TradeWaltz™”, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with FPT Corporation -a leading solution and product developer, system integrator, and IT service provider in Vietnam and the region. The collaboration MoU with Vietnam after Brunei, Thailand, Singapore, and Indonesia since the ASEAN-Japan Economic Co-Creation Vision was announced on August 22, 2023, in which the concept of digitizing and connecting trade procedures between ASEAN and Japan on the blockchain is announced. Thus, we have started system collaboration with five of the ten ASEAN countries.

■ASEAN-Japan Economic Co-Creation Vision
In commemoration of the 50th anniversary of the friendship between ASEAN and Japan, the Economic Co-Creation Policy for the next 50 years was announced on August 22, 2023, during intergovernmental consultations to realize a safe, prosperous, and free economic society between ASEAN and Japan, based on trust.
(https://www.meti.go.jp/press/2023/08/20230822005/20230822005.html)

Among the four policies to be covered, “Enhancing Cyber and Physical Connectivity” includes the concrete implementation of the Indo-Pacific Economic Framework (IPEF), elimination and digitization of trade procedures, and DFFT (free and reliable data flow) to build a seamless logistics network, and the measure “Digitalization and Linkage of Trade Procedures in Commerce, Logistics, and Money Flow in ASEAN and Japan Using Blockchain Technology” is mentioned.

TradeWaltz is the only platform in Japan that digitizes trade procedures for commercial, logistics, and financial flows on the blockchain. In line with this policy, we are collaborating with ASEAN countries to promote the digitization of trade between Japan and ASEAN.

■Status of Trade Digitalization with Vietnam
Vietnam has had a long and close relationship with Japan in terms of trade and trade digitization. Japanese products are so prevalent in Vietnam that the word “Honda” is sometimes used to refer to a motorcycle. Due to the COVID-19 pandemic, Japanese manufacturers, mainly of medical products, have relocated and dispersed their production facilities to Vietnam. The country has become a major presence for Japanese companies to set up overseas factories.
(https://www.jetro.go.jp/biznews/2014/01/52d8f16ac8708.html)

In 2020, when TradeWaltz Inc was founded, our platform was used for transactions with letters of credit using Mitsubishi Corporation Plastics’ Vietnamese commercial distribution within the support projects related to the diversification of supply chains of the Ministry of Economy, Trade and Industry (METI).

From this background, then METI Minister Kajiyama and H.E. Mr. Tran Tuan Anh, Minister of Industry and Trade have conversed about the efficiency of Japan-Vietnam trade procedures on the trade platform, which was incorporated in the joint ministerial statement.
(https://www.tradewaltz.com/news/96/）

Since then, discussions have been held on the establishment of a trade consortium in collaboration with FPT Corporation – a major Vietnamese system integrator, and major banks, as well as on the creation of a platform. On May 1, 2022, during Prime Minister Kishida’s visit to Vietnam, he addressed in the seminar to Prime Minister Chin, saying, “Digital transformation is expected to enable Vietnam and Japan to cooperate in solving social and economic challenges in a wide range of fields. For example, the private sector in Japan and Vietnam have begun to work together to improve efficiency by digitizing paper-based trade procedures.”
(https://www.mofa.go.jp/mofaj/s_sa/sea1/vn/page4_005582.html）

■Signing MoU for corporation and the way forward
On October 24, 2023, TradeWaltz signed a MoU with FPT Corporation for future system integration within “FPT Techday 2023”- FPT’s largest in-house event. (https://techday.fpt.com/en) The initial system integration will be completed within February and will be brushed up after that.

TradeFlat is developed by FPT Information System and exploited in the Japanese market by FPT Japan Holdings – two subsidiaries of FPT Corporation. This is  the first trade platform in Vietnam that performs L/C settlement of trade finance on the blockchain. TradeFlat can handle end-to-end LC operations on Blockchain. Thereby, the solution reduces 90% of document transfer time compared to traditional financing transaction flows, reduces 50% of bank staff’s operational processing time, and increases productivity and work efficiency by 3 times.

Businesses can easily resolve capital financing problems in commercial transactions with TradeFlat.
(Download Image)

TradeFlat is integrated with the Made by FPT ecosystem: Electronic invoice – FPT.eInvoice, Electronic contract – FPT.eContract, Electronic Signature – FPT.eSign… to make the experience on the system seamless. Along with that, real-time and accurate data helps minimize lack of information and difficulties in finding banks and product consumption partners. This is a key factor to help businesses shorten the time in receiving support from the bank and ensure stable operations. With banks, it is possible to grasp the financial health situation of businesses, thereby making reasonable decisions.
(https://www.tradeflat.com/)

TradeFlat approached to collaborate with TradeWaltz to expand the functions of the commercial and financial flows and decided carefully to proceed with a full-scale collaboration modification.

【Comments from stakeholders】  
Tran Dang Hoa, Chairman of FPT Information System
“With the integration of TradeFlat and TradeWaltz, FPT Information System and FPT Japan Holdings aim to achieve the mission of Vietnam’s leading technology enterprise – accompanying the Government and Enterprises in developing business activities, becoming a model to digitize global international trade process, contributing to removing barriers in the import-export procedure between enterprises of the two countries. From here, it will create favorable conditions for transitions in the global supply chain and international trade, completing the goal of bringing the two countries’ relations to outstanding development in accordance with the vision “Vietnam Accompanying, Looking to the Future – Reaching the Future” – Mr. Tran Dang Hoa – Chairman of FPT Information System affirmed.”

Satoru Someya, Executive Officer, COO, CMO, TradeWaltz Inc.
“We are pleased to sign this MoU with FPT. Vietnam was the ASEAN chair country in 2020 when TradeWaltz was founded, and we have had many discussions on trade digitalization, including their governmental level, and we hope to achieve it between the two countries through cooperation between TradeFlat and TradeWaltz.”

About FPT Corporation
FPT is a pioneer in digital transformation and a leader in consulting, providing and deploying technology and telecommunications services and solutions. We help clients in 29 countries and regions around the globe realize technology-driven business development strategies and goals.

With over three decades of experience in implementing projects on a global scale, we help our clients overcome challenges and barriers and achieve peak performance in their digital transformation journey. Based on the latest technologies of AI, Big Data, Cloud, Automation, IoT…, we offer advanced technology solutions and services to help customers operate proactively and flexibly in all situations.

For more information, please visit: https://fpt.com/en

About FPT Information System
FPT Information System (FPT IS) was established in 1994. FPT IS is a leading system integrator and digital transformation solution provider in Vietnam and the region. FPT IS is aiming at foreign markets, with the goal to make transactions among the Government, people, and businesses faster, more efficiently, and more secure.

With technological capabilities recognized by global customers and partners, FPT IS has designed and implemented many comprehensive IT projects, services and solutions that contribute to reforming key sectors of Vietnam such as finance – banking, real estate, insurance, retail, public administration… bringing value to millions of people.

For more information, please visit: https://www.fpt-is.com/    

FPT Japan Holdings Co., Ltd. is the Japanese subsidiary of FPT Software, Vietnam’s largest IT company. Since establishment in 2005, FJP have served as a bridge between Vietnam and Japan, delivering maximum value to Japanese customers through services and solutions that utilize the latest technology. 

Together with our consulting and system integration partner companies, we will make the most of the strengths of Vietnamese companies, which have hard-working, creative, and flexible human resources and are achieving remarkable growth every year, to quickly resolve issues faced by our customers, including human resource shortages. We would like to contribute to achieving our goals by constantly striving to continue to be a solution provider. 

For more information, please visit: https://www.fpt-software.jp/company-information/fpt-japan/

About TradeWaltz Inc.
Name:   TradeWaltz Inc.
Representative:President & CEO Hirohisa Kojima
Office:    KASUMIGASEKI BUILDING 36F WORKSTYLING, 3-2-5 Kasumigaseki, Chiyoda-ku, Tokyo 100-6036
Established: April 2020
Main Business: Provision of the SaaS of “TradeWaltz™,” ^*¹a trade-related information-sharing platform using blockchain
Number of Employees: 61 (full-time)    
Website: https://www.tradewaltz.com/en
Shareholders: NTT DATA Corporation / Toyota Tsusho Corporation /
                         UTokyo Innovation Platform Co., Ltd. / Sumitomo Corporation /
                         Mitsubishi Corporation / TW Link Corporation /
                         Tokio Marine & Nichido Fire Insurance Co., Ltd. /
                         Toyoshima & Co., Ltd. / Kamigumi Co., Ltd. /FUJITRANS CORPORATION/
                         MITSUI-SOKO HOLDINGS Co., Ltd. / NISSIN CORPORATION /
                         MUFG Bank, Ltd. / Marubeni Corporation /
                         Mitsubishi Logistics Corporation / Sompo Japan Insurance Inc.
SDG initiatives: Our services promote initiatives on themes 8, 9, 12, 13, 15, and 17.
*1 “TradeWaltz™” is a registered trademark of TradeWaltz Inc. in Japan. Other product names, company names, and organization names are the trademarks or registered trademarks of each company.