The meeting between Vinh Phuc officials and Japanese investors on July 6 (Photo: vinhphuc.gov.vn)

Vinh Phuc (VNA) – The authorities of Vinh Phuc province in the northern key economic region assured Japanese businesses of maximum support for them at a meeting on July 6.

The event, held by the provincial People’s Committee, the Vietnam Chamber of Commerce and Industry and the Japanese Embassy in Vietnam, drew representatives of the Japan International Cooperation Agency (JICA), the Japan External Trade Organisation (JETRO), the Japan Business Association in Vietnam, and Japanese enterprises operating in Vinh Phuc.

Chairman of the provincial People’s Committee Nguyen Van Tri promised continued efforts to improve local investment climate, develop infrastructure and skilled manpower, and timely deal with Japanese firms’ requests and administrative procedures.

Vinh Phuc has benefited from the growth in overall Vietnamese – Japanese relations, especially since 1995 when Japan’s Toyota and Honda groups began investing in the province, the chairman said.

He appreciated the quality and effectiveness of investments from Japan which have substantially contributed to local socio-economic development.

By the end of June 2016, Vinh Phuc houses 222 FDI projects with a total registered capital of 3.43 billion USD from 16 countries and territories. Though Japan only ranks third in terms of the project number (26) and registered capital value (over 786 million USD), its companies have continually showed the best business performance and contributed most to local budget.

Chairman Chi called for Japanese investment in projects using modern technologies such as mechanical engineering (including automobile and motorcycle manufacturing and assembly), electronics and their support industries, telecommunications, and hi-tech agriculture. Investors from the Northeast Asian nation are also welcomed in tourism – entertainment, health care and education.

At the meeting, Japanese firms asked for more appropriate policies for importing used machinery with high quality and boosting auto manufacturing’s support industry. Vinh Phuc should also keep investment incentives transparent and stable, while improving infrastructure at industrial parks.-VNA