Illustrative image (Photo: VNA)

The northern province of Bac Giang has set up a Japan Desk to support Japanese investors in their operation in the locality, heard an investment promotion conference held in the province on September 9.

According to director of the provincial Department of Planning and Investment Trinh Huu Thang, Japanese businesses are running 20 projects with total registered capital of 150.7 million USD in Bac Giang, ranking third among foreign investors in the province.
Japanese investments in Bac Giang are mainly in processing technology, manufacturing and services and trade, with rapid capital disbursement. Among the projects, 18 have become operational and the remaining two are in the process of building workshops.

Dang Xuan Quang, deputy head of the Foreign Investment Agency under Ministry of Planning and Investment spoke highly of Japanese enterprises’ contributions to the socio-economic development in Vietnam in general and in Bac Giang in particular, stressing that Vietnam is calling for additional Japanese investment in infrastructure, support industry and agriculture and rural development.

Toma Massaki, Second Secretary in charge of investment, trade and industry at the Japanese Embassy in Hanoi, said that in order to attract new investors, provincial authorities need to improve investment climate through ensuring electricity and water supply, building transport facilities and simplifying administrative procedures.

Bac Giang is calling for investment in industry, trade-service, tourism and agriculture, especially projects in applying high-tech in animal breeding, meat processing, vegetable and medicinal plant cultivation, among others.

The province is currently home to 199 foreign direct investment projects worth nearly 2.4 billion USD.

To date, 105 countries and territories have landed their investment in Vietnam, with nearly 19,000 projects valued at 165 billion USD. Japan becomes the second largest investor in the country with total registered capital of 37 billion USD.-VNA