Illustrative image (Source: File photo)
Hanoi (VNA) – Vietnamese businesses have invested 7 million USD in approximately 40 projects in Japan, as heard at a conference held on July 5 to further promote the investment.

According to Do Nhat Hoang, head of the Foreign Investment Agency, Japan is ranked 45 th out of 68 countries and territories in which Vietnamese investors run their business.

Most of the Vietnamese investment has been channeled into IT projects in Japan catering to high local demand, Hoang said, adding that the sector brings in healthy added value while enabling Vietnamese companies and engineers to learn from Japanese advanced technologies.

He stated his agency is committed to optimising administrative procedures to encourage Vietnamese businesses to invest overseas.

Vice Chairman of the Japan External Trade Organisation (JETRO) Shigeki Maeda also endorsed Vietnamese investment in the IT sector in Japan.

He said Japan is implementing a programme on training 10,000 Asian IT engineers, which is a good opportunity for Vietnamese enterprises and engineers.

The Japanese Government is reforming the local business climate in a bid to assist foreign investors, he noted.

In 2003, the Vietnam Business Association in Japan was established to support Vietnamese companies wanting to invest in the market.

Vietnamese firms have so far invested about nine billion USD in more than 1,000 overseas projects.-VNA