Vietnam ranks 2nd in ASEAN’s Japanese investment attraction
(VOV) -Vietnam currently ranks second in ASEAN in terms of attracting Japanese investors (around 1,200 firms), said Hirotaka Yasuzumi, Managing Director of the Japan External Trade Organization (JETRO) in Ho Chi Minh City.
Hirotaka Yasuzumi spoke highly of the business climate in Vietnam at a meeting jointly held by Vietnam CEO Club and the Japanese Business Association of Ho Chi Minh City (JBAH) in HCM City on September 12.
He said most Japanese companies are operating in assembling, health care, electronics, and support industries.
Dr. Tran Du Lich, an economic expert, highlighted Vietnam’s economic recovery as a result of inflation control, forex stabilization, and trade growth.
He forecast GDP in 2013 at 5.3-5.5% and export turnover up to 10%.
Many participants considered the event a good opportunity for them to explore market trends, establish strategic partnership and expand business operation in both countries.
They emphasized Japanese investors’ role in Vietnam’s foreign invested sector, especially when the two countries are negotiating the Trans-Pacific Partnership (TPP) agreement, which is expected to create new opportunities for both sides.
However, they, said Vietnam boost administrative reform, develop infrastructure and create a better legal framework for foreign investors, including those from Japan.
The focus will be on pushing up the restructuring process, with priority given to support industry, production activities, and financial market operations, they suggested.