Japanese enterprises seek investment opportunities in Vietnam

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Vietnamese Ambassador Vu Hong Nam speaks at the event (Photo: VNA)

Participants at the event were representatives of more than 20 Japanese enterprises, operating in different areas who are eager to learn about investment opportunities in Vietnam, said Vietnam Investment Review.

Speaking at the event, Vietnamese Ambassador to Japan Vu Hong Nam noted that Vietnam is among few countries that have maintained positive economic growth following the effective control of the novel coronavirus (COVID-19) pandemic, thus turning the country into an attractive destination for foreign direct investment (FDI), VOV cited.

According to the ambassador, FDI inflows have increased constantly after the country brought the second COVID-19 outbreak under control. By Nov. 20, he said FDI into Vietnam had amounted to US$26.4 billion, including US$2.1 billion coming from Japan alone.

Notably, 15 out of a total of 30 Japanese businesses that have received assistance from the Japanese government in their investment shifting scheme have selected Vietnam as an ideal destination to base their production lines. This means Japanese businesses have complete confidence in Vietnam’s economic development prospects in the near future, said the diplomat.

A Japanese expert (L) is seen at the construction site of the Ben Thanh - Suoi Tien metro in Ho Chi Minh City. (Photo: VnExpress)

The ambassador underlined that Vietnam-Japan trade is supplementary and fair. Despite the pandemic, two-way trade declined only slightly in the first 11 months of the year, to 35.9 billion USD. Vietnam shipped items worth 17.3 billion USD, down 6.5 percent, while Japan posted export revenue of 18.6 billion to Vietnam, up 4.8 percent.

Nam took the occasion to call upon Japanese businesses to invest in Vietnam, especially in fields the country has prioritized, such as electronics, agro-fishery processing, environmental technology and energy-saving, agricultural machinery, shipbuilding, and automobiles and spare parts, Vietnam Plus reported.

The Vietnamese Government is paying attention to creating a suitable legal framework for the country’s market mechanism and conditions that are on par with commitments in integration and international practice. It is exerting every effort to build the foundational factors for a transparent and favorable investment and business climate, and stabilizing its macro-economy in a bid to lure more investment from abroad and from Japan in particular, he added.

In response, Matsuzawa Ken, president of the International Friendship Exchange Council (FEC) voiced his hope that the forum will help Japanese companies understand more about Vietnam’s business and investment climate, thereby strengthening mutual understanding and cooperation in economy, trade, and investment.

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