Vietnam’s machinery and equipment market has achieved solid growth in recent years and the momentum is expected to continue, making the country increasingly attractive to foreign investors, experts have said.
Representatives of the Japan External Trade Organisation (JETRO) worked with leaders of the Mekong Delta province of Hau Giang on October 30 to learn about the local investment environment.
Over 80 percent of Japanese firms said they are willing to receive foreign workers, and 95 percent of them are interested in Vietnamese IT engineers, according to a survey conducted by the Vietnam Software Association (VINASA).
A seminar on strengthening cooperation between the Central Highlands localities and Japan took place in the Central Highlands province of Dak Lak on October 7.
The Japan External Trade Organisation (JETRO) opened “GOOD GOODS Japan 2019” in Hanoi on September 27 to create trade connections between Japanese and Vietnamese enterprises.
Japan’s Sumitomo Corporation will spend 19 billion JPY (177 million USD) to expand two industrial parks in Vietnam in order to serve businesses shifting production away from China to avoid the trade war.
The southern province of Binh Phuoc is attracting attention from many Japanese businesses who want to make investment in Vietnam, according to the Japan External Trade Organisation (JETRO) Office in Ho Chi Minh City.
Many Vietnamese companies in supporting industries that can produce high-quality parts are nevertheless struggling to enter large international supply chains or are only able to supply low-value items to them.
Vietnam has been an attractive destination for Japanese investors and experts predicted that more Japanese firms will come to do business in the Southeast Asian country thanks to its economic growth and integration advantages.
The association of Vietnamese people in the central-southern region of Japan was established in Higashi Hiroshima city of Japan’s Hiroshima prefecture on August 18.
In the first six months of 2019, Vietjet’s revenue from air transport continued growing by 22 percent and its air transport profit increased by 16 percent year on year.
Prime Minister Nguyen Xuan Phuc attended a ceremony in Tokyo, Japan on July 1 to launch budget carrier Vietjet’s new routes connecting Ho Chi Minh City with Tokyo (Narita), and the central city of Da Nang with Tokyo (Haneda).
Vietnam encourages high-quality projects invested by Japanese corporations, Prime Minister Nguyen Xuan Phuc said, pledging to organize regular dialogues to tackle difficulties for Japanese investors.
The Thai Ministry of Commerce is promoting the export of the country's products to secondary cities in foreign countries, such as Wakayama in Japan from which key companies are invited to attend the THAIFEX - World of Food Asia event for business negotiations.
Strategic partners play a highly important, even decisive, role in Vietnam’s economic development, according to Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc.
Japan was the biggest recipient of Vietnamese guest workers in 2018, replacing Taiwan (China) in the top spot. Attractive salaries have tempted more and more Vietnamese workers to Japan.
Japanese investment in Vietnam is expected to grow this year, given Japan’s recent initiative to shift investment to Vietnam and other Mekong River nations, as well as free trade agreements (FTA), experts said.
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