Conference promotes investment attraction from Japan

The event is expected to draw the participation of the Minister of Foreign Affairs of Vietnam, the Japanese ambassador to Vietnam and more than 100 enterprises from both nations.

During the event, participants will visit industrial parks and Japanese enterprises operating in the province as well as booths introducing key products of the province's strength, potential for greater investment, and cooperation achievements between the two countries.

In addition, they will hold exchanges on trade promotion activities and sign a number of memoranda of understanding and investment cooperation agreements.

Japan is currently Vinh Phuc's second largest investor behind the Republic of Korea, injecting more than US$1.4 million into 60 projects. 

The majority of Japanese projects in Vinh Phuc are primarily involved in such fields as automobile  and motorcycle production, processing and manufacturing industries, with major groups such as Honda Vietnam and Toyota Vietnam Company, thereby contributing about 70% to the local budget revenue. 

Notably, the Vinh Phuc provincial People's Committee has recently signed a MoU with the Vietnam Dairy Products Joint Stock Company, the Vietnam Livestock Corporation JSC  and Japan’s SOJITZ Group to invest in high-tech agriculture, especially in cow farming and slaughtering, meat processing and distributing in the Vietnamese market.

Currently, the provincial People's Committee is speeding up necessary procedures to construct a Vietnam - Japan beef processing and breeding complex, with a total investment of US$500 million.

Vinh Phuc has considered Japan a potential investor, with a range of activities launched to support Japanese businesses that have been doing business in the locality.
Therefore, the conference is viewed as a good opportunity for Vinh Phuc to promote investment and attract major investment projects from the East Asian nation in the near future.