Business

Japanese investment in Vietnam reaches 36.5 billion USD

Direct investment from Japan to Vietnam hit 36.5 billion USD by October 2014, according to statistics of the Japanese Business Association (JBA).
Direct investment from Japan to Vietnam hit 36.5 billion USD byOctober 2014, according to statistics of the Japanese BusinessAssociation (JBA).

Shimon Tokuyama, a JBA representative, saidat the Vietnam Business Forum 2014 in Hanoi on December 2 that thenumber of Japanese-invested projects in Vietnam has increased overthe last three consecutive years.

According to him, the JBA has 1,388 members in Vietnam, second only to Thailand in the Southeast Asian region.

Shimon Tokuyama said the revision of the laws on Enterprises andInvestment has improved the business environment and businesses’competitiveness, but some issues still need more amendments.

He also suggested Vietnam should focus on further developing thesupport industry and small and medium-sized enterprises.

Theexpert said the formation of ASEAN Economic Community (AEC) by the endof 2015 will create a regional large market with over 600 millionconsumers but Vietnam will also have to cope with fiercercompetitions from regional countries.

Therefore, Vietnamshould develop production through attracting foreign investment, thusimproving its competitiveness, he said.

Official governmentstatistics show that between 2011 and 2013, Japan topped the list of101 countries and territories investing in Vietnam. Especially in2012, Japanese investments accounted for half of the total foreigndirect investment in the country.-VNA
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