Japanese companies have pledged USD1 billion into Hanoi during Prime Minister Nguyen Xuan Phuc’s on-going visit to Japan. Hanoi People’s Committee Chairman Nguyen Duc Chung had a meeting with representatives from major Japanese firms. The signing ceremony for investment memoranda of understanding between Hanoi and Japanese companies At the investment promotion into Vietnam forum held in Tokyo during the PM’s trip, Chung signed three memoranda of understanding worth USD1 billion. Meiko Electronics will pour an additional USD200 million to expand its project at Thach Thach-Quoc Oai Industrial Park. Meiko will also consider spending USD300 million on carrying out its new high-tech projects in the city. Meanwhile, Aeon Mall Vietnam Ltd. Co. has planned to build shopping centres in Hoang Mai and Bac Tu Liem districts. Taisei Rotec wants to build a plant in Hanoi to provide road surface maintenance and repair services. At the event, Chung also introduced high-tech agriculture projects for Japanese investors. At present, Japan is the second biggest foreign investor in Vietnam with over USD52 billion, and the fourth biggest trade partner with two-way trade exceeding USD33 billion. In the first eight months of this year, Japan took the lead with investment of USD7 billion, making up 28.8% of the total FDI capital poured into the country.