New opportunities for Japanese firms in Vietnam hinh anh 1Governor of Kanagawa prefecture Kuroiwa Yuji at the event (Source: VNA)
Tokyo (VNA) – Equitisation of State-owned enterprises, public-private partnership (PPP) in infrastructure and start-ups in the fourth industrial revolution are expected to open up new opportunities for Japanese firms in the Vietnamese market.

The opportunities were explored at the Vietnam – Japan Investment Cooperation Forum held in Yokohama port city, the Japanese prefecture of Kanagawa on September 7.

Speaking at the event, Governor of Kanagawa prefecture Kuroiwa Yuji said it was the fourth time the forum was held within the framework of the Vietnam Festa in Kanagawa.

He said six Vietnamese firms invested in Kanagawa last year while the prefecture has invested in four industrial parks in Vietnam, adding that the annual forum will help reinforce Vietnam – Japan ties, and Vietnam – Kanagawa ties in particular.

Vietnamese Ambassador to Japan Nguyen Quoc Cuong, for his part, said the investment and business environment in Vietnam is considered favourable, with the country’s GDP growth surpassing 7 percent in January-June, and predicted at 6.8 percent this year by the World Bank.

Vietnam and Japan have signed and promoted the enforcement of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Vietnam will also soon sign the EU-Vietnam Free Trade Agreement and is actively negotiating the Regional Comprehensive Economic Partnership, he said.

Cuong added that the Vietnamese government is working to create a service-oriented environment which is conducive to growth.

Addressing the event, Deputy Minister of Planning and Investment Vu Dai Thang highlighted advantages in doing business in Vietnam such as a huge market with nearly 100 million people, over 60 percent of them age below 35, competitive labour costs, political and economic stability, transparent legal mechanism that gradually  meets international standards.

Vietnam already signed 12 free trade agreements, has been an active member of ASEAN and APEC and has relations with many countries and regions, especially G7 and G20 member states, he said.

According to him, Vietnam is pitching for foreign investment in SOEs equitisation, promoting PPP in traffic, sea and seaport infrastructure, developing a start-up ecological system linking with regional and global markets.

Officials from Hung Yen, Long An and Ha Nam provinces also took the occasion to present their local strengths and incentives for foreign investors.-VNA