Japan’s Hokuriku enterprises want to invest in Vietnam

Enterprises in Japan’s Hokuriku region highly valued Vietnam’s business environment and pinned high hopes on the prospect of bilateral cooperation in the future.

Speaking to nearly 30 leaders of member businesses and representatives from the Hokuriku Economic Federation and the Japan International Cooperation Agency in the region, Chairman of the Hokuriku Association of Investment Promotion with Vietnam Mitsuru Mitani said he wanted to hold a trip for Hokuriku enterprises to Vietnam and stays ready to welcome Vietnamese firms to the region to seek partners or do business.

Vietnamese Consul General in Osaka Nguyen Hong Ha said the Vietnamese Government is performing the policy of living with the pandemic and looking toward the dual goal of fighting the pandemic and maintaining stable socio-economic development. Positive signals have shown that Vietnam remains a safe and attractive destination for foreign investors.

Hokuriku borders the Sea of Japan, comprising the three prefectures of Fukui, Ishikawa and Toyama. It is home to leading Japanese firms operating in mechanical engineering, manufacturing, apparel, information technology, agricultural production and processing.

Hokuriku enterprises are now investing in 96 projects in Vietnam. In a survey polling members of the Hokuriku Economic Federation in October 2019, 21.7% of respondents said they wanted to invest in Vietnam, higher than other countries such as India (10.8%), Thailand (8.3%), and China (7%). In another survey in October 2021, 26.8% of enterprises expected to do business in Vietnam compared to 20.4% for China, 16.9% for India and 14.1% for Indonesia.