An economic delegation from the Japan Chamber of Commerce and Industry
(JCCI) will visit Vietnam from September 23-26 to look for investment and
cooperation opportunities in various fields.
The 100-member delegation led by
JCCI Chairman Tadashi Okamura includes representatives and leaders from major
Japanese groups such as All Nippon Airways, Atena, Honda Motor, Itochu,
Marubeni, Mitsui, Sumitomo and Taiheiyo Cement.
Apart from promoting cooperation
with Vietnam in traditional areas such as infrastructure development and
energy, small and medium-sized Japanese businesses are particularly eager to
invest in support industries.
According to the Foreign
Investment Agency under the Ministry of Planning and Investment (MPI), Japan
remained the biggest investor among the 29 nations and territories having newly
licenced investment projects in Vietnam during the past eight months with $4.33
billion in registered capital.
This accounted for more than half
of the total newly registered and increased capital in the country.
Over the years, Vietnam has
always been regarded as an attractive destination for Japanese investors
because of its political stability, open investment environment and abundant
labour force.
However, Co-chairman of the
Vietnam-Japan Economic Committee, Kyohei Takahashi, said Vietnam needed to
improve its business environment and the competitiveness of the national
economy in order to attract new inflows of foreign investment, including that
from Japan.
Japanese investors need legal
assistance for their business operations and they are also concerned with
living conditions when they decide to invest in new land, he noted.
The MPI and the Japanese Ministry
of Economics, Commerce and Industry have selected five areas for cooperation in
implementing Vietnam’s industrialisation strategy within the Vietnam-Japan
cooperation framework through 2020.
According to the strategy,
Vietnam will create specific policies to call for investment from Japanese
businesses to help develop support industries in Vietnam.
MPI Minister Bui Quang Vinh said:
“In addition to industrial parks exclusively for Japanese businesses, we want
to build special villages for Japanese residents in Vietnam. Our aim is to create
favourable business and good working environments for Japanese investors to
promote further Vietnam-Japan cooperation.”
Japanese investors are also keen
to invest in Public Private Partnership (PPP) projects for developing
infrastructure and energy in Vietnam, which is one of the important contents of
the Vietnam-Japan joint initiative.
Japan is a major investor in
Vietnam and its ODA funding is mainly allocated to infrastructure development
projects.
The MPI said if Japan combined
private capital sources with its government ODA investment in Vietnamese
infrastructure, Japanese funded projects would be more efficient, particularly
as Vietnam was beginning to implement some trial projects following the PPP
model.
VOV
Business & Investment Opportunities
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