Dong Nai province ready to ride Japanese investment wave

At the Dong Nai investment promotion conference held in Tokyo, Linh said that the province is rolling out red carpet for investment in the domains of modern industry, trade, and services to create sweeping changes in the province’s economic structural shift, affirming that it will ensure foreign investors’ asset ownership as well as their business activities in line with the Law on Investment.

According to Vice Chairman of the provincial People’s Committee Nguyen Thi Hoang, Japanese enterprises have contributed greatly to the local socio-economic development as they have generated jobs for workers and bolstered local industry, trade, and services, particularly the supporting industry. Japan is now the third largest investors among the 46 countries and territories investing in Dong Nai by registering US$5.22 billion in 276 projects.

Sho Hiromitsu, a representative from the Japan External Trade Organisation (JETRO), said that Japanese investment flow into Vietnam has bounced back following a halt by COVID-19, adding Japanese corporations rate the Vietnamese market’s attractiveness as second only to the US and 56.7% Japanese firms in Vietnam have plans to expand business there.

The firms will get huge advantages when investing in Vietnam which boasts market scale, growth potential, stable socio-political conditions, and competitive labour cost, he stressed.

Meanwhile, Vietnamese Ambassador to Japan Pham Quang Hieu expressed his belief that with its favourable geographical location, abundant human resources, and key transport projects being carried out, Dong Nai will continue to be a bright spot in the country’s foreign investment attraction.

The Vietnamese Embassy will accompany Dong Nai and other Vietnamese localities as well as enterprises of both nations during their business cooperation in Vietnam, he stressed.