Can Tho City Luring Japanese Investments

Deputy Consul General of Japan in Ho Chi Minh City Ogawa Megumi speaks at the event. Photo: baodautu.vn

A seminar was held in Can Tho on June 17 to call for Japanese investments in spheres where the Mekong Delta city has demand.

Can Tho is now home to six Japanese-invested projects worth $1.35 billion, helping Japan rank first in the city in terms of registered capital, said Vice Chairman of the municipal People’s Committee Nguyen Van Hong, as cited by VietnamPlus.

The city's export value to Japan reached $40.6 million in the first four months of this year, with export staples mostly being seafood, apparel, farm produce, steel and steel products, pharmaceuticals, chemicals, feather and others, while its import turnover was estimated at $9.8 million, with key products being pharmaceutical raw materials, fabrics, leather, machinery and equipment.

Can Tho's export value to Japan reached $40.6 million in the first four months of this year. Photo: VNA

Nobuyuki Matsumoto, Chief Representative of the Japan External Trade Organisation (JETRO) in Ho Chi Minh City, said Can Tho now boasts seven universities and serves as a major human resources training centre in the Mekong Delta, making it attractive for enterprises. The city's workforce, particularly in the field of information technology, are highly sought after for skills in digital transformation, automation, smart factories, mechanical engineering and electrical engineering.

Deputy Consul General of Japan in Ho Chi Minh City Ogawa Megumi said several Japanese firms have invested in food processing in Can Tho as the city has abundant natural resources in agriculture and aquaculture from the Mekong River.

She hoped that when the construction of expressways is completed in the future, the transportation of goods from Can Tho to Ho Chi Minh City, the largest market, will become easier.

According to a survey conducted by the Japan External Trade Organisation (JETRO) in 2022, 60% of Japanese investors in Asia-Pacific said they plan to expand operations in Vietnam within the next two years, Nhan dan (People) Newspaper reported.

60% of Japanese investors in Asia-Pacific said they plan to expand operations in Vietnam within the next two years. Photo: VNA

The rate is the highest in the ASEAN region and third in Asia-Pacific, only after India (72.5%) and Bangladesh (71.6%).

Also, according to the poll, conducted in August and September last year, the prospect of business profit in Vietnam in 2022 recovered strongly after the Covid-19 pandemic, especially regarding the sectors of production - consumption and direct services, thanks to significant increases posted in export volume and market purchasing power.

In 2023, the local manufacturing and non-manufacturing industries are forecast to improve by more than 50%.

Another survey of JETRO revealed that Vietnam ranks only after the US, as a favorite destination for investment for Japanese companies./.

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