Seeking Japanese assistance to develop supporting industries

(VOV) - Seminars on investment cooperation to develop the support industries in Vietnam and introduction of the Hanoi South Supporting Industrial Park and Vietnam’s incentive policies have been held in Fukuoka, Osaka and Kyoto, Japan from November 25 – 28.

Speaking at the Osaka and Kyoto seminars, Consul General in Osaka Tran Duc Binh affirmed that Vietnam-Japan relations have been developing strongly in all fields, from politics, security, economy, trade, and scientific research to people-to-people exchange, laying a firm foundation for Japanese investors to operate in Vietnam.

Kansai central region comprising of Osaka, Kyoto and Kobe accounts for 30% of Japan’s investment capital in Vietnam or one-fourth of the total number of its projects in the country. In the first eight months of this year, two-way trade turnover between Kansai and Vietnam hit US$4.5 billion.

Vietnam is accelerating its economic reform and renovating growth model towards becoming an industrialised country by 2020. This opens up more opportunities for Japanese investors to Vietnam, Binh said.

seeking japanese assistance to develop supporting industries hinh 0

For his part, Consul General to Fukuoka Bui Quoc Thanh said there is huge potential of cooperation between Vietnam and Japan, particularly between Japan’s southern regions like Kyushu and Okinawa and Vietnam’s localities, in the fields of electronics, machinery, agriculture, agro-fisheries processing, shipbuilding, environment and energy efficiency.

This seminar is an initial step for cooperation between Kyushu and Vietnamese businesses in the supporting industries, Thanh said.

Meanwhile, Chairman of the Hanoi Supporting Industry Business Association (HANSIBA) Nguyen Hoang said that curently Vietnam has to import most components and spare parts for the domestic manufacturing and assembling industries. Vietnamese firms want to cooperate with Japanese partners in supporting industries to meet increasing demands of Japan’s leading groups like Toyota, Honda and Sony and access Japan’s global production chain, Hoang said.

He also introduced participants to the Hanoi South Supporting Industrial Park and Vietnam’s incentive policies.

Japanese investors said the seminars provided them with useful information to assess Vietnam’s needs and its production market. Some revealed their plans to build factories in Vietnam.