Seminar discusses law dissemination for Japanese firms in Da Nang

Upon addressing the event, Ho Ky Minh, vice chairman of Da Nang City People's Committee, emphasised that recent years has seen mutual ties enjoy strong development across multiple fields, adding that local authorities have highlighted the effective operations of Japanese businesses in the nation and their great sense of responsibility.

Since first being established in 2008, the Japan Business Association - Da Nang Branch, has become the largest foreign business community in the central city and has seen continuous growth whilst making significant contributions to Da Nang’s socio-economic development, Minh noted. 

Representatives from local authorities have also affirmed that the success of investors will offer a fresh impetus to the city’s socio-economic development, while also pledging to support Japanese firms that conduct business in an effective manner in the central city, Minh emphasised.

At present, Japan represents one of the country’s most important economic partners, with total import-export turnover during the opening nine months of the year reaching a figure of US$28.6 billion.

With regard to foreign direct investment, as of September, the East Asian nation had 4,595 valid projects with a total registered capital of US$59.87 billion, therefore ranking second in terms of investment capital in the country.

As of November, Japan remains the leading nation in terms of registered investment capital in Da Nang, with 213 projects having a combined capital of over US$917 million, accounting for 25% of the total number of foreign investment projects. Of the figure, the main focus of firms is on the manufacturing, information technology, and processing sectors.

Japanese investment projects have also generated thousands of jobs in Da Nang and contributed to an estimated import and export turnover of approximately US$990 million this year.