The Trans-Pacific Partnership (TPP) agreement is expected to help Vietnam and Japan move forward with win-win economic cooperation, specifically in the fields of support industry and agriculture.
Party General Secretary Nguyen Phu Trong said he welcomes Japanese businesses to expand their investments in Vietnam and improve their quality and efficiency.
Besides new official development assistance commitments, Vietnam and Japan expect to sign a number of important cooperation deals in agriculture during Party chief Nguyen Phu Trong’s visit to Japan.
A series of three exhibitions on supporting industries were kicked off at the Hanoi International Exhibition Centre on September 10, bringing together more than 100 businesses in the field.
Vietnam is likely to see a new wave of investment from Japan as its investors have shown continued interest in the Southeast Asian market, predicted experts.
Representatives of the Japan External Trade Organisation (JETRO) and Japanese businesses worked with leaders of northern Ha Giang province on July 31to help the locality lure more Japanese investors.
Ho Chi Minh City is seeking more solutions to complete a project on
developing the support industry, which plays a key role in promoting the
sustainable development of major industries, according to a report on
the Government website chinhphu.vn.
The 2015 Vietnam Metrology, Tools & Automation (MTA) Show, the
largest on manufacturing solutions in the country, opened in Ho Chi Minh
City on July 7 with the participation of 350 exhibitors from 20 nations
and territories.
The Japan External Trade Organisation (JETRO) hopes to expand investment
in agriculture in the northern province of Ha Nam, which has
advantages for agricultural production.
Three exhibitions related to the support industry, Metalex Vietnam,
Vietnam Electronics Assembly and the Business Alliance for Support
Industry in HCM City, will be held at a single venue in HCM City in
October, the organisers announced on June 11.
Japanese investors in Vietnam are likely to shift their capital to
the trade and service sectors given the advantages of the ASEAN-Japan
Comprehensive Economic Partnership Agreement (AJCEP) in 2015-2019 and
the ASEAN Trade in Goods Agreement (ATIGA) in 2015-2018.
Foreign direct investment (FDI) accounted for most of the nation's total
electronic export turnover, according to a report from the Vietnam
Electronic Industries Association.
Central Nghe An province has granted licences to 49 new
foreign-invested projects with a total investment of over 6.8 trillion
VND (315.7 million USD) during the first four months of 2015, said the
provincial Department of Planning and Investment.
About 66 percent of the 458 Japanese firms based in Vietnam, plan to
expand their business during the next one or two years, a recent survey
pointed out.
The Dung Quat Economic Zone (DEZ) with the 3 billion-USD Dung Quat
Refinery as its heart can be said to be the driving force of economic
development in the central province of Quang Ngai.
The Japan Desk, recently set up by the Ministry of Planning and
Investment’s Foreign Investment Agency (FIA), started official operation
on November 21, aimed at assisting Japanese enterprises keen to invest
in Vietnam.
A wide range of latest products and services applied in urban water
supply management, drainage, environmental hygiene, irrigation,
wastewater treatment and water filtering technology are on display at an
international exhibition in Ho Chi Minh City.
Vietnam has surpassed China as a prime overseas investment destination
of Japanese businesses, radio The Voice of Vietnam (VOV) cited a recent
survey by Teikoku Databank as saying.
