Agency to promote Japanese firms’ investment in Vinh Phuc

A MoU on establishing an agency for promoting investment and supporting Japanese enterprises in investing in Vinh Phuc province (Japan Desk Vinh Phuc) was signed in the locality on March 26.

Monday, March 26, 2018 21:16

Agency to promote Japanese firms’ investment in Vinh Phuc ảnh 1

At the signing ceremony (Source: http://baovinhphuc.com.vn)

Vinh Phuc (VNA) – A memorandum of understanding (MoU) on establishing an agencyfor promoting investment and supporting Japanese enterprises in investing in thenorthern province of Vinh Phuc (Japan Desk Vinh Phuc) was signed in thelocality on March 26.

Signatories were the provincial People’s Committee, the Sumitomo Group of Japan,and the Thang Long Industrial Park Co., Ltd.

Speaking at the signing ceremony, Chairman of the provincial People’s CommitteeNguyen Van Tri highlighted the great contributions made by foreign-invested firms,especially those from Japan, to promoting the locality’s socio-economicdevelopment in recent years.

He said as of February 2018, Vinh Phuc was home to 278 projects worth over 4 billion USD investedby 16 countries and territories, 31of them, valued at 816 million USD, were from Japan.

Vinh Phuc has also partnered with Japan’s localities and organisations,especially in investment cooperation and culture exchange.

The MoU aims to not only provide the best support for Japanese investors butalso attract more firms from Japan to invest in the locality, he stressed.

Nguyen Tien Hanh, Director of the provincial Public Administrative Centre,affirmed the formation of Japan Desk Vinh Phuc will make it easy for VinhPhuc to introduce its investment and business climate, and for Japanese firmsto seek partners and ask for approval for their investment projects in thelocality.

He said the provincial People’s Committee will proactively report conditions orpreferences for Japanese firms to the Government, towards granting investmentlicences and business registration certificates for investment projects in VinhPhuc within 3-5 working days.

Sumitomo is one of the five largestfinancial groups in Japan with experience in global-scale production andbusiness sectors such as metal, means of transportation, construction machines,infrastructure development, minerals, energy, chemicals and electronics.

In Vietnam, the group has succeeded in developing, operating and managingindustrial parks (IPs), including Thang Long I and II IPs, and Thang Long VinhPhuc IP.

The group will be responsible for seeking potential companies in Japanwhich have intend to expand their business in Vinh Phuc, while assistingsupport industries in the locality.-VNA

VNA

#MoU #Japan Desk Vinh Phuc #investment promotion #Japanese enterprises #foreign-invested firms #socio-economic development #investment cooperation #culture exchange #business climate #investment projects #Sumitomo #Thang Long IP #Thang Long Vinh Phuc IP #Vietnamplus #Vietnam News #Vietnam News Agency Vinh Phuc Japan

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