Tokyo conference calls for Japanese investment in Vietnamese localities

An overview of the event. (Photo: VNA)

Tokyo (VNA) – An investment promotion conference was held in Tokyo on June 2 to call for Japanese investment in localities of Vietnam.

The event drew the participation of leaders of the Vietnamese Ministry of Foreign Affairs, Embassy of Vietnam in Japan, representatives of four localities, namely Can Tho city, and Kon Tum, Bac Lieu and Thua Thien-Hue provinces, and businesses of the two countries. It was part of the activities to mark the 50th founding anniversary of Vietnam-Japan diplomatic ties.

Addressing the opening ceremony, Vietnamese Deputy Minister of Foreign Affairs Le Thi Thu Hang said ample room remains for the development of bilateral cooperation in general and cooperation between Vietnamese and Japanese localities, contributing to the enhancement of their relations and bringing benefits to the people of the two countries.

According to Tsukada Manabu, Senior Director for Global Strategy (Southeast Asia) at the Japan External Trade Organisation (JETRO), Vietnam plays an increasingly prominent role in the Association of Southeast Asian Nations (ASEAN) on attracting investment from Japanese enterprises.

The result of a recent survey conducted by JETRO showed that up to 60% of Japanese enterprises said they will expand their investment in Vietnam, while only 47% of businesses said they will expand their investment in Southeast Asia in general. This fact shows that Vietnam is appreciated by Japanese businesses more than ASEAN in terms of cooperation potential and market resilience.

Nguyen Huu Thap, Vice Chairman of the Kon Tum Provincial People's Committee, said that since 2017, the province has sent eight business delegations to Japan and welcomed 31 delegations of Japanese experts, scientists and representative agencies.

According to the official, there are 33 official development assistance (ODA) projects funded by the Japanese Government in Kon Tum province to improve socio-economic infrastructure with a total investment of 16 million USD. It has also received more than 2.17 million USD from Japanese organisations for the implementation of 14 projects, focusing on healthcare, rural infrastructure construction and education-training.

Kon Tum province prioritises attracting investment in the fields of high-tech agriculture, renewable energy, urban development, eco-tourism and community, Thap added.

Meanwhile, Nguyen Ngoc He, Vice Chairman of the Can Tho City People's Committee, said it intends to offer favourable conditions for investors to push up the locality’s development in a sustainable manner. Accordingly, domestic and foreign businesses will enjoy preferential policies on customs procedures, corporate income tax and land rent exemption for the long term.

Within the framework of the conference, participants witnessed the granting of an investment certificate of Thua Thien-Hue province to Okura Industrial Company of Japan and the exchange of contracts between Saigon - Hue Investment Joint Stock Company and the Okura Industrial Company./.