Second Japanese investment wave to stem from SMEs
Domestic firms must prepare for more opportunities in the future as a new wave of Japan’s investment into Vietnam is expected to stem from Japanese small- and medium-sized enterprises (SMEs).
A new wave of Japan’s investment into Vietnam is expected to stem from Japanese small- and medium-sized enterprises.(Photo: baodautu.vn)
Hanoi (VNA) – Domestic firms must prepare for more opportunities in the future as a new wave of Japan’s investment into Vietnam is expected to stem from Japanese small- and medium-sized enterprises (SMEs).
Shortly after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was signed in Chile on March 8, a delegation of high-level business leaders from Japan visited Vietnam to promote investment between the two countries.
Unlike previous Japanese visits, this visit brought not only big firms but also many SMEs operating in commerce, banking, construction, food processing, education, home electronics and consultancy.
The first wave of Japanese investment was led by large firms in manufacturing, said Seiji Imai, Head of Mizuho Bank for Asia and Oceania. Japan has a lot of SMEs who possess exclusive and advanced technology but mainly focus on the domestic market, he noted.
“I believe Vietnam would be the first destination Japanese investors take into account when investing overseas and the second investment wave will happen for sure,” he was quoted as saying by the Dau Tu (Investment) newspaper.
In some industries in Japan like retailing and education, there is little room for local companies to expand, according to Japanese business representatives who attended the Vietnam – Japan business dialogue recently held by the Vietnam Chamber of Commerce and Industry in Hanoi.
“In the plan for the next 10 years, our priority will be given to investment activities overseas, especially in markets with large population and strong economic growth like Vietnam,” Director of Japan-based I-Cube Education Ltd Noriyuki Sekito said.
The new investment wave is expected to usher in more chances for cooperation between enterprises of the two sides, which are needed as most Vietnamese SMEs have limited resources and capacity.
The partnership will help reduce investment risks, cut costs and save time in learning about a new market and investment policies, a Japanese business representative noted.-VNA
You should also see
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
See more
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Business
Vietnam needs drastic reforms to create firm ground for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
Business
Dak Lak firm pioneers in following EUDR in coffee production
The Dak Lak September 2 Import-Export Company Limited (Simexco) has pioneered in building coffee growing areas following the EU Deforestation Regulation (EUDR), it announced on April 25.
