Japan rolls out red carpet for foreign investors

Hanoi (VNA) – The Japan External Trade Organisation (JETRO) recently held a press conference in Hanoi, where it called for Vietnamese enterprises to do business in Japan, noting the country as an attractive destination for foreign investors.

At the event, JETRO chief representative Hironobu Kitagawa said that Vietnamese enterprises have golden opportunities to invest in the land of the rising sun as the two countries are increasing their cooperation.

Japan has a favourable location, sound business climate and its largest ever Vietnamese population, all factors which will aid Vietnamese enterprises, he said.

He also mentioned Japan’s strengths for all foreign investors, including its growing economy, large consumption market, innovation and safety.

Previously, luring foreign direct investment (FDI) was not a focus in Japan’s policy. However, due to its development requirements, the nation is now changing its mind by forming special economic zones and preferential policies.

JETRO offers a programme to support Vietnamese businesses who wish to invest in Japan. After registration with JETRO, the companies will receive free consulting services from the Invest Japan Business Support Centres (IBSC).

However, economic experts said that as Japan is a fastidious market which demands high quality products, Vietnamese businesses should thoroughly study the investment environment and legal policies while attracting quality human resources.

According to Nguyen Sy Hai, JETRO representative in Vietnam, Vietnam is operating 1,253 projects worth 21.4 billion USD in 74 countries and territories worldwide.

Vietnamese businesses have made little inroads in Japan, running 49 projects valued at only 7.5 million USD in the country.

Several Vietnamese companies have opened firms in Japan like FPT company and CMC corporation.-VNA