Business

Vietnam-Japan trade to be strengthened: JETRO president

Chairman and CEO of the Japan External Trade Organisation (JETRO) Ishige Hiroyuki has stressed that investment and trade ties between Vietnam and Japan will be stronger in the coming years.
Vietnam-Japan trade to be strengthened: JETRO president ảnh 1Chairman and CEO of JETRO Ishige Hiroyuki at the press conference on Feb. 23 to annouce the report (Source: VNA)

Tokyo (VNA) – Chairman and CEO of the Japan External Trade Organisation (JETRO) Ishige Hiroyuki has stressed that investment and trade ties between Vietnam and Japan will be stronger in the coming years as both sides are members of the Trans-Pacific Partnership (TPP) agreement.

During his reply to Vietnam News Agency’s correspondents in Tokyo on the impact of TPP on Japanese firms’ investment in Vietnam, Ishige said the pacific-rim trade deal helps promote trade and investment links among businesses among its member nations.

He believes that with applying common regulations and standards for all TPP member countries, the trade pact will contribute to improving the investment climate in these countries.

Ishige highlighted the crucial role played by the JETRO in providing services, advice and accurate information on Vietnam’s market to Japan, revealing that about 70-80 percent Japanese enterprises investing in Vietnam are using JETRO services.

He also praised the Vietnamese Government’s efforts to better the country’s investment climate. According to a report on Japan’s investment in 2014 – 2015 announced by JETRO in Tokyo on February 23, the country had fruitful outcomes in the field.

Additionally, statistics from the Japanese Ministry of Finance, 22.9 trillion JPY (204.4 billion USD) of foreign direct investment (FDI) was poured into Japan as of September 2015, with Europe accounting for the largest part of the figure - 46.8 percent (10.9 trillion JPY).

JETRO said up to 77 percent of foreign enterprises operating in Japan have planned to expand their investment and 74 percent of them intended to increase the number of their employees.

The report is a comprehensive report on the current status of inward FDI to Japan, the efforts of the central and local governments to promote inward FDI, JETRO’s inward FDI promotion projects, and the attractiveness of the Japanese market. It also includes the results of a survey that JETRO conducted on foreign-affiliated companies, about their perception of doing business in Japan.-VNA

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