Business

Desk works to support Japanese investors in Vietnam

The Japan Desk, recently set up by the Ministry of Planning and Investment’s Foreign Investment Agency (FIA), started official operation on November 21, aimed at assisting Japanese enterprises keen to invest in Vietnam.
The Japan Desk, recently set up by the Ministry of Planning andInvestment’s Foreign Investment Agency (FIA), started official operationon November 21, aimed at assisting Japanese enterprises keen to investin Vietnam.

Vietnam has recently attracted a large number ofJapanese investors into various fields such as manufacturing,processing, agriculture, and technology, said Toma Masaaki, theSecretary in charge of investment, trade and industry at the JapaneseEmbassy.

He hoped that the FIA’s desk will play an active role in supporting Japanese investors.

FIADirector Do Nhat Hoang said the desk is tasked with providing officialinformation and advice relating to legal issues and investmentprocedures for Japanese businesses.

At present, Japan ranksfourth out of countries and territories investing in Vietnam with anewly registered and additional capital of some 1.66 billion USD, or12.1 percent of the total foreign investment here.

The Ministryof Planning and Investment forecast that Japanese FDI would likelyincrease in the pharmaceutical, chemical and metal industries,machinery, electronics, traffic equipment, wholesale and retails.

Accordingto the Japan External Trade Organisation (JETRO), Vietnam lagged behindThailand in terms of infrastructure readiness but had competitiveadvantages in workforce’s quality and labour cost.-VNA
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