Japan has always been among the leading foreign investors in Việt Nam. — Photo congluan.vn Compiled by Thiên Lý In late July, news that 15 Japanese companies received support from their Government to move to Việt Nam from China became a hot topic in the media. According to the Japan External Trade Organisation (Jetro), they were among more than 80 firms whose moving out of China will be subsidised under a Japanese Government scheme. It said this was a move to diversify supply chains into various countries since many firms saw them disrupted due to the COVID-19 pandemic that broke out and spread especially in China. Nikkei said the Japanese Government would provide a total of 70 billion yen (US$653 million) to enable 87 companies to move their production lines out of China. But not only Japanese companies but many South Korean, European and the US companies too have recently opted for Việt Nam as their investment destination to diversify their supply chains. LG Electronics has moved its entire smartphone production line from South Korea to Hải Phòng City in northern Việt Nam. Panasonic plans to move a large production line that makes refrigerators and washing machines from Thailand to Việt… Read full this story
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