More than 30 businesses from Vietnam and Japan were brought together at an event in the northern port city of Hai Phong on July 19 to seek stronger investment links.

The southern province of Dong Nai attracted nearly US$980 million of foreign investment so far this year, equal to 97% of its target for the whole year, according to the provincial Department of Planning and Investment. 

Several major domestic and foreign groups will be committing to projects in the Mekong Delta city of Can Tho after signing memoranda of understanding on investment next month.

Nestlé, the world’s largest food and beverage company, inaugurated a new NESCAFÉ Dolce Gusto capsule production line in the southern province of Dong Nai on July 19.

Leaders of Ho Chi Minh City and relevant agencies have agreed to meet representatives of the Japan International Cooperation Agency’s (JICA) Vietnam Office every quarter to promote projects funded through Japanese official development assistance (ODA).

Businesses in Vietnam are facing difficulty in finding suitable commercial or office space as the rental rates have skyrocketed, especially in big cities.

The growing foreign direct investment (FDI) in Vietnamese property has shown investors’ greater expectations of the market, insiders said.

Investors have expressed readiness to invest in 22 projects worth roughly VND82 trillion (US$3.64 billion) on a combined area of 2,756.3ha in the Mekong Delta city of Can Tho. 

Foreign banks in Vietnam have been expanding their transaction networks and increasing their charter capital in a bid to increase market share, especially in the retail banking sector.

The US-China trade friction is expected to help boost foreign direct investment in Vietnam, fast-tracking an already strong trend of foreign firms veering away from China, where rising costs are worrying investors.