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.