At an electronics firm of Japan in Vietnam (Source: sggp.org.vn) Hanoi (VNA) – With a youngpopulation, great potential and increasing trade growth, Vietnam is offeringbig opportunities for Japanese firms to expand their market, according to the Japan External Trade Organisation (JETRO).
In fact, manyJapanese enterprises have invested or expanded investment activities in Vietnam,focusing on the fields of food processing, agro-forestry-aquaculture, consumergoods, electronic components, industrial products, construction, transport and environmentalprotection.
Not only big firms, small and medium-sized enterprises are also increasing theirinvestments in international markets.
JETRO has providedJapanese firms with advertisement costs and market information, and helped themto connect with Vietnamese investors, thus making it easier for them to operatein Vietnam.
At present, as many as 70 percent of Japanese enterprises operating in Vietnam havecommitted to expanding their investment, production and business in the countryin the coming time. This proved that Vietnam continues to be an importantdestination for Japanese firms.
JETROChief Representative in Ho Chi Minh City Takimoto Koji said the Vietnamesegovernment and Japanese enterprises should pay attention to training high-qualityhuman resources, who can control robots.
Priority should be also given to developing energy and infrastructure,especially transport infrastructure, he said.
Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry’s Branchin HCM City, said Vietnam is accelerating reformd to attract investment, andsupporting investors in all fields, especially in handling administrative proceduresand reducing taxes.
The Vietnamese government has devisedmany solutions to improve the country’s investment and business environment ina bird to lure more foreign investors, especially those from Japan, he said.
To cooperate sustainably with Japanese partners, Vietnamese firms need to investmore in science and technology to better the quality of their products and maketheir production more professional, Thanh suggested.
They should also boost linkages to meet the demand for materials from Japanese businesses,he stressed.
Economic and trade relations betweenVietnam and Japan have recorded rapid development in recent years. Japan is nowthe fourth largest trade partner of Vietnam after China, the US and theRepublic of Korea. The two countries strive to lift their trade turnover to 60billion USD by 2020.
By the end of 2018, Japan topped thelist of foreign investors in Vietnam with combined registered capital of 9.5billion USD. Around 1,800 Japanese enterprises are operating in the SoutheastAsian country, some 1,000 of which are in Ho Chi Minh City.-VNA
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