Business

Japanese firms consider Vietnam key investment destination

About 70 percent of Japanese investors in Vietnam want to continue investing or expand their investments, meaning Vietnam is an important destination for them, according to a representative of the Japan External Trade Organisation (JETRO).
Japanese firms consider Vietnam key investment destination ảnh 1JETRO Chief Representative in Vietnam Takimoto Koji (Source: sggp.org.vn)

Hanoi (VNA) – About 70 percentof Japanese investors in Vietnam want to continue investing or expand theirinvestments, meaning Vietnam is an important destination for them, according toa representative of the Japan External Trade Organisation (JETRO).

JETRO Chief Representative in Ho Chi MinhCity Takimoto Koji shared the figure in an interview with Cong Thuong (Industryand Trade) newspaper.

In 2017, Japan was the biggest foreigndirect investor of Vietnam, posting a record figure of 9.11 billion USD. In thefirst 11 months of 2018, the country kept its top spot with nearly 8 billionUSD, more than a quarter of the total foreign capital poured into Vietnamduring the period.

According to Takimoto, 65.1 percent of the Japanesebusinesses in Vietnam are profitable.

He said Japanese goods have an increasingpresence in the Vietnamese market, with Japanese firms’ foreign expansionreceiving strong support from their government and organisations like JETRO. Whenthese companies study the Vietnamese market, they aim to introduce high qualityproducts and seek business partners and sale agencies. They also look forVietnamese goods that suit Japanese consumers’ taste.

The JETRO Chief Representative said Japaneseinvestors value Vietnam for its clear policies, stable legal affairs and its increasinglylarge workforce of trained youths. Despite such advantages, local labours’average wage is ranked sixth in Southeast Asia.    

He quoted Japanese investors as saying theyhave been assisted by local authorities in administrative procedures, includingthose for taxation and customs clearance. Complete infrastructure and wastetreatment and power systems in Vietnam’s industrial parks have helped them makequick investment decisions.

Lauding the economic growth potential ofVietnam, Takimoto affirmed that Japan wants to enhance investment and businesscooperation with the host country.

He said that Japanese firms intend to formwin-win partnerships with Vietnamese peers, expecting to find capable localcompanies to become their long-term partners and join their globalproduction-manufacturing supply chains.-VNA  
VNA
#Japan External Trade Organisation #JETRO Chief Representative in Ho Chi Minh City Takimoto Koji #Cong Thuong (Industry and Trade) newspaper #Takimoto Koji #Vietnam News Agency #vietnamplus
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