Vietnam encourages Japanese investment

(VOV) - The Ministry of Planning and Investment (MoPI) has pledged to create favourable conditions for Japanese businesses, including those from Kanagawa prefecture, to operate efficiently in Vietnam.

MoPI Deputy Minister Nguyen Van Trung made the commitment at a Vietnam-Kanagawa investment seminar in Hanoi on July 25.

“I do believe that cooperation with Kanagawa and its businesses will bring more benefits for Vietnam,” Trung told the seminar which was also attended by Governor Kuroiwa Yuji of the Japanese prefecture.

He revealed the MoPi will support Kanagawa’s businesses in investing in health care, education-training, as well as in recruiting Vietnamese trainees to work in the prefecture.

The ministry will prioritise technology investment in Vietnam to create products of highly added value, he said.

Yuji echoed Trung’s view, saying about 40 businesses from Kanagawa are operating in Vietnam, and boosting cooperation with Vietnam will facilitate their operations in the country.

In 2013 Kanagawa’s GDP reached US$307.6 billion, accounting for 5.63% of the country’s total. The prefecture houses many leading Japanese businesses operating in electronics, mechanical engineering, information technology, and biological technology.

Vietnam had a high demand for these areas in line with a cooperation strategy between Vietnam and Japan till 2020.

At the seminar, Trung and Yuji signed a memorandum of understanding on bilateral cooperation.