On September 9, Vietnam Trade Promotion Agency (Ministry of Industry and Trade), Vietnam Trade Office in Japan and Japan Trade Promotion Organization JETRO held a seminar – online trade to connect Vietnamese investment. South – Japan with the participation of hundreds of enterprises from the two countries.
Vietnam – Japan Investment Connection Workshop 2020 held on September 9, held by the Ministry of Industry and Trade
At this event, Director General of Trade Promotion Department Vu Ba Phu affirmed that Japan is always one of the major investment countries in Vietnam in terms of both the number of projects and the total investment capital.
According to Mr. Vu Ba Phu, the wave of Japanese investment in Vietnam is constantly increasing in both the number of enterprises and investment capital.
Specifically, in 2018, Japan led the country investing in Vietnam with 8.59 billion USD, accounting for 24.2% of the total investment capital among 112 countries and territories with investment projects in Vietnam. Male.
By the end of 2019, there were more than 2,000 Japanese enterprises investing in Vietnam and the inflow of foreign direct investment (FDI) from Japan continued to increase strongly. Accumulating FDI attraction by the end of 2019, Japan ranked second with a total registered capital of 59.3 billion USD, accounting for 16.7%.
According to experts, the Vietnamese market has great potential to attract Japanese enterprises to invest in production expansion. Not only large enterprises and corporations, but now Japanese small and medium enterprises also increase investment promotion in Vietnam.
Japanese businesses are also tending to invest in other localities in Vietnam, instead of focusing only in Hanoi and Ho Chi Minh City.
According to JETRO’s survey of Japanese enterprises investing in Asia and Oceania in February 2020, 63.9% of Japanese enterprises doing business in Vietnam will continue to expand their business, the highest rate in ASEAN and third in Asia and Oceania region.
Sharing on the sidelines of the seminar, Mr. Vu Ba Phu, Director of the Trade Promotion Agency affirmed that the Ministry of Industry and Trade affirmed that the Ministry of Industry and Trade created all advantages for Japanese businesses to invest in Vietnam.
The Ministry of Industry and Trade affirmed that in the coming time, Vietnam will continue to improve institutions and policies to improve the quality and efficiency of foreign investment cooperation with the aim of focusing on attracting and cooperating with foreign investment, quality, efficiency, technology and environmental protection are the main evaluation criteria; Prioritize projects with advanced technology, new technology, high technology, clean technology, modern governance, high added value, spillover effects, connecting production and supply chains. This is also the strength of Japanese businesses. This investment cooperation will be complementary and complementary to each other and develop together.
The Ministry of Industry and Trade of Vietnam and the Trade Promotion Agency are ready to support and create favorable conditions for Japanese businesses to expand their investment and business relations with Vietnam in the coming time.
Source: sggp.org.vn – Translated by fintel.vn