The Ministry of Planning and Investment and the Japanese City Hamamatsu signed a memorandum of understanding that will look to reel in more investments from Hamamatsu into Vietnam.

The document was inked by Deputy Minister of Planning and Investment Nguyen Van Trung and Hamamatsu’s Mayor Yasutomo Suzuki in Hanoi, on December 15.

Under the pact, both sides agreed to create favourable conditions and provide available information for their businesses, particularly those operating in the support industry.

They will work together in organising conferences and delegation visits to seek investments or establishing business support centres to aid enterprises’ search for partnerships and investment opportunities.

Addressing the signing ceremony, Minister of Planning and Investment Bui Quang Vinh stated that Vietnam always gives high estimations to Japanese investors and comes up with the most possible conditions for their projects in the country to run productively.

The Hamamatsu Mayor expressed his belief that the cooperation will bring a lot of benefits, pledging to facilitate investments by his city’s businessmen in Vietnam.

Located in western Shizuoka Prefecture, Hamamatsu made a GDP of 28 billion USD in 2013. It holds vast potential for the support industry, the manufacture of musical instruments, and the garment and textiles industry.-VNA