Japanese investors target deals in Vietnam
(VOV) - Japanese investors are eyeing Hanoi’s high-tech and industrial sectors and are actively seeking increased cooperation opportunities with small and medium enterprises (SMEs) in the lucrative market.
The statement was recently made by Duangdej Yuaikwarmdee, Deputy Managing Director of Reed Tradex Company in a discussion regarding Japanese foreign direct investment (FDI) in Vietnam.
Japanese FDI currently is principally concentrated in the high-tech and industrial sectors and accounts for 22% of Hanoi’s total foreign investment, generating roughly 130,000 jobs and contributing US$109 million annually to the City’s budget, he said.
Vietnamese and Japanese SMEs also have great potential and distinct advantages for cooperation in the areas of finance, banking, health and human resources
However, Hanoi needs to accelerate the progress of reforms to streamline the often times complex and confusing paperwork and procedures to gain investment certificates, to strengthen confidence among Japanese investors and attract more investment, he emphasized.
Seiji Masuda, CEO of Sanko Fastem Company, in turn said that Vietnam is one of the destinations Japanese investors find most attractive. Our company is the largest anchor bolt manufacturer in Japan, he said.
With the ever-increasing number of factories sprouting up throughout Vietnam, business is booming for our company, he said, adding that anchor bolts are needed in all phases of construction and production.
The Vietnam Manufacturing Expo 2014 (VME) is an effective marketing tool for our company where we have the opportunity to explain and guide customers to use our products, Masuda said.
To assist the development of support industries in Vietnam, Vietnam Manufacturing Expo 2014 (VME) and Industrial Components and Subcontracting Vietnam 2014 (ICSV) is being staged in Hanoi on August 27-28.