Japan is the second-largest foreign investor in Vietnam, a manufacturing hub in Southeast Asia seeking to expand exports from apparel and agriculture to high-value goods like electronics and automobiles.
Transnational companies operating in Vietnam have become fierce competitors to those operating in regional neighbours like Thailand, Malaysia, China and Taiwan, especially in hi-tech manufacturing, said Dr Loc.
He added that the globe’s electronic giants like Panasonic, Samsung, Foxconn and Intel have all made significant investments and now the country is desirous of attracting more Japanese based companies.
Ties between Tokyo and Hanoi have warmed over recent years, and currently the world’s No. 3 economy has invested heavily in Vietnam. Japanese companies are currently involved in more than 3,000 ventures worth roughly US$42 billion in Vietnam, principally in the manufacturing sector.
Members of the Vietnam business community welcomed the push toward high-tech at the forum, which was attended by representatives of several Japanese transnational giants including Mitsubishi, Canon and Fukuyama Transporting.