A beverage factory invested by a Japanese in Binh Duong province (Source: VNA) Tokyo (VNA) – Vietnam becomes an attractivedestination for Japanese investors as the country’s investment climate has been improvedin recent years, said an economist from Waseda University, Japan.
Prof. Tran Van Tho, who is also member of the Economic Advisory Groupfor Prime Minister Nguyen Xuan Phuc, said similarities in culture between thetwo countries also help promote their economic cooperation.
The Vietnam-Japan Joint Initiate, which is on the sixthphase, is focusing on how to increase labour productivity, he said,adding that the initiative shows Japan’s perseverance in helping Vietnamimprove its business climate.
Japan became the largest foreign investor in Vietnam in 2017 with over 2,500 Japanese companies operating in theSoutheast Asian country.
Japan’s increasing investment in Vietnam is a good signal for Vietnam’s economyin the context that investments from developed countries in Vietnam remain low,Tho noted.
In the coming time, Japan’s investment in Vietnam is forecast to be maintainedin the field of manufacturing, he said, adding that Vietnam should encourageJapanese firms to pour money into food and support industries.
According to the expert, the country also needs to make adjustments to policiesrelated to foreign investment attraction and bidding.
Priority should be given to luring reliable investment sources andenvironmentally friendly projects using modern technologies, Tho stressed.
Regarding investment form, Tho said Vietnam should encourage the formation ofjoint-ventures between foreign and domestic firms, thus improving domestic enterprises’capacity and helping them join production chains.
Apart from Japan, China has been also one of Asian countries increasingits investment in Vietnam. The country became the fourth largest foreigninvestor in Vietnam in 2017.
China’s strong development and increasing investment abroad will alsoimpact greatly on Vietnam’s economy in 2018, Tho said. –VNA
VNA
