The
Vietnam-Kansai economic dialogue forum was held in central coastal Danang city
on November 22 to discuss ways to attract more investment to the East-West
Economic Corridor and adjacent areas in central Vietnam.
The forum, the fifth of its kind, is part of
the annual economic cooperation exchange programme between Vietnam and Japan’s
Kansai region. It aims to promote connectivity between the central region, the
East-West Economic Corridor and Kansai.
Nearly 300 foreign and domestic scholars and
businesspeople, including 70 investors from the Kansai region, exchanged views
on how to increase and effectively use foreign investment, especially from
Japan, to develop infrastructure, manufacturing and support industries in the
region.
Addressing the event, Deputy Prime Minister
Hoang Trung Hai noted that Japan is one of Vietnam’s leading economic, trade
and investment partners.
Japan is the biggest aid donor and the
fourth-largest foreign investor in Vietnam , said the deputy PM, adding that it
ranks first among foreign investors in terms of capital disbursement.
Vietnam and Japan signed an investment
protection and encouragement agreement in 2004 and a comprehensive economic
partnership agreement in 2007, he said.
The two countries signed a joint initiative in
December 2003 to improve the investment environment in Vietnam, laying a
foundation to promote bilateral investment and cooperative relations.
Both countries have completed three phases of
the initiative and are entering the fourth phase, dealing with issues related
to the investment environment in Vietnam.
However, the Deputy PM noted that foreign
investment in central Vietnam remains modest. He cited statistics saying by the
end of October 2011, the central region attracted 750 projects capitalised at
$23.7 billion. Of the total figure, Japan invested in 71 projects worth $417
million, making up only 2 per cent of its total investment in Vietnam.
Vietnam is exerting efforts to attract foreign
investment in the central region, with Danang city serving as the gateway to
other economies in the region and the world, said Hai.
He said Danang is taking shape as a production
base in the central region. The city will take part in the global supply chain
to create added values for Vietnamese products to further penetrate regional
and global economies.
According to the Deputy PM, the forum offered
a good chance for the two countries’ businesspeople to discuss investment
policy and the potential for investment cooperation.
This year’s event was focused on
infrastructure development in Vietnam and the East-West Economic Corridor in
particular.
After the opening of the forum, Deputy PM Hai
chaired the first two sessions, on Vietnam-Japan cooperative potential and
opportunities in infrastructure development in Vietnam and the East West
Economic Corridor and Vietnam-Japan cooperation in manufacturing and support
industries.
VIR - VNA
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