Japanese enterprises key to Hai Phong economic growth hinh anh 1 Hai Phong's Tan Vu - Lach Huyen Bridge, the longest cross-sea bridge in Vietnam (Photo: Vietnam Ministry of Transport)

Hai Phong (VNA) – Japanese businesses have become an important part of Hai Phong’s economy, stated Secretary of the municipal Party Committee Le Van Thanh at a conference to promote Japan’s investment and tourism in the northern port city on March 24.

The conference saw Vietnamese and Japanese firms discussing cooperation opportunities and their potential in the sectors of tourism, auto support industry, logistics, and human resources training. The Hai Phong Investment, Trade and Tourism Promotion Centre signed seven memoranda of understanding on cooperation with Japanese companies.

Speaking at the event, Japanese Ambassador to Vietnam Umeda Kunio highlighted the growth of ties between Japan and Hai Phong as reflected through several Vietnam – Japan trade pacts on major projects in the city.

Japanese technologies have been used in building the local Tan Vu bridge and port, he added.

Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said Hai Phong has convenient infrastructure and is active in institutional reform, saying they are plus points in attracting investors.

He said he expects 60 participating investors will promote the locality’s favourable business climate to their Japanese peers. 

He stated attracting investment from Japan is a goal set by the Vietnamese government and Hai Phong authorities in particular.

As of February 2018, Japan had 134 FDI projects capitalised at 4.31 billion USD in Hai Phong, ranking first in volume and second in value.

Hai Phong’s tourism-culture cooperation with Japanese localities has also recorded upbeat outcomes, with frequent delegation exchanges, cultural exchanges, trade promotion events, and joint educational programmes.-VNA