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Japanese firms see Vietnam as attractive investment destination

Vietnam is now an attractive investment destination in the eyes of
Japan’s investors, said Hida Harumitsu, Japanese Consul General in Ho
Chi Minh City at a conference on August 23.

At
the conference themed “40 Years of Vietnam-Japan Cooperation and
Development” held in the southern province of Ba Ria-Vung Tau, Harumitsu
said the number of Japanese businesses in the country is seeing a
sustainable increase, with 643 of these operating in Ho Chi Minh City.

Japanese investors poured 5.1 billion USD in
Vietnam in 2012 and 4 billion USD in the first half of this year, the
Japanese official noted.

According to the
Ministry of Planning and Investment’s Foreign Investment Agency,
accumulated Japanese investment in Vietnam has reached 32.78 billion
USD, with over 2,000 valid projects as of July this year.

This proves Vietnam-Japan ties are advancing towards a new height as
more Japanese businesses arrive in the country to seek investment
opportunities despite the global economic downturn.

As one of the activities to mark the 40th anniversary of the two
countries’ diplomatic ties, the conference in Ba Ria-Vung Tau looks to
offer information on Japanese firms’ operational outcomes in Vietnam and
Ba Ria-Vung Tau province in particular.

The
conference also helped introduce the province’s sectors attracting
investment in the coming time. The province now has 18 FDI projects
funded by Japanese investors with a total investment of 1.7 billion USD.

Ba Ria-Vung Tau is actively collaborating with
Japan’s relevant agencies to establish development strategies and
investment-attraction policies and improve its investment climate as
well.

The provincial authorities have made
proposals to the Government, relating to issuing preferential policies
for support industries and establishing specialised industrial zones to
meet Japanese investors’ requirements.-VNA

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