The information was shared by participants at a Vietnam-Japan Investment Cooperation Forum held in Yokohama, Kanagawa prefecture, Japan on September 7. The event saw the presence of more than 200 businesses and leaders from Yokohama, the Japan External Trade Organization (JETRO), the Vietnamese Ministry of Planning and Investment (MoPI), the Vietnamese Embassy and Hung Yen, Long An and Ha Nam provinces.
At the forum, Kanagawa Governor Kuroiwa Yuji said this is the fourth such event to be held under the framework of Vietnam Festa in Kanagawa, showing the due care and support of the Vietnamese Government and Yokohama authorities for businesses from the two countries.
To date, six Vietnamese businesses have invested in Yokohama while the Kanagawa prefecture has poured investments into four industrial parks in Vietnam, Mr Yuji said.
MoIP Deputy Minister Vu Dai Thang emphasized the advantages of Vietnam’s business environment such as its huge market with nearly 100 million customers, competitive labour costs, political and macroeconomic stability, and an increasingly transparent legal institution in line with international standards. Vietnam has signed 12 free trade agreements, been an active member of ASEAN and APEC and established ties with many countries and regions, especially G7 and G20.
|Deputy Minister of Investment and Planning Vu Dai Thang
Regarding new opportunities in Vietnam, Mr Thang said the country is attracting foreign investors in the equitisation of State-owned enterprises and infrastructure development such as transport, electricity and seaports through the PPP model. The country is accelerating the delivery of Industrial Revolution 4.0 innovations and developing a startup ecosystem, which will offer a plethora of opportunities for Japanese businesses.
At the forum, the provinces of Hung Yen, Long An and Ha Nam presented their strengths and foreign investment attraction policies.
The forum serves as a platform for Japanese and Vietnamese businesses to expand investment cooperation, contributing to the further development of Vietnam-Japan ties.