Vietnam is viewed as an attractive investment destination in the eyes of Japan investors, Hida Harumitsu, Japanese Consul General in Ho Chi Minh City said at a conference on August 23.
At the conference themed ’40 Years of Vietnam-Japan Co-operation and Development’ held in the southern province of Ba Ria-Vung Tau, Consul General Harumitsu said the number of Japan business enterprises in the country is seeing an increase, with most of these operating in Ho Chi Minh City.
Japanese investors poured US$5.1 billion into Vietnam in 2012 and another US$4 billion in the first half of this year, the Japan official noted.
According to the Ministry of Planning and Investment’s Foreign Investment Agency, accumulated Japanese investment in Vietnam has reached US$32.78 billion, with over 2,000 valid projects as of July this year.
This proves Vietnam-Japan ties are advancing towards a new height as more Japan business enterprises 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 helps to 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 US$1.7 billion.
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.