A delegation of the Japan Chamber of Commerce and Industry (JCCI) on October 28 made a field trip to the northern province of Vinh Phuc to scope out investment environment in the locality.
Yoichi Kobayashi, Chairman of the JCCI’s Japan-Mekong Economic Cooperation Committee who headed the delegation, said the businesses joining the trip are mainly active in the support industry.
Hailing Vinh Phuc’s convenient geological location and infrastructure, the official voiced his hope that there will be more Japanese investors to operate in the locality following the visit.
According to Kobayashi, the JCCI has 514 branches across Japan with 1.3 million members, of which 99.7 percent are small- and medium-sized enterprises (SMEs), making up one third of the country’s total SMEs.
Established in 2013 with nearly 200 businesses, the Japan-Mekong Economic Cooperation Committee aims to promote economic, investment and trade cooperation between Japan and nations in the Mekong Sub-region, he said.
Nguyen Van Tri, Chairman of the Vinh Phuc People’s Committee, said the province is gearing toward becoming an auto and motorcycle manufacturing centre.
The province always welcomes investments in this field, particularly those from Japan, he said.
As many as 26 Japanese businesses are investing in Vinh Phuc with a total registered capital of US$800 million.
On October 22, Vinh Phuc granted an investment licence to Japan’s Sumitomo Group to build Thang Long III Industrial Park in Thien Ke and Tam Hop communes, Binh Xuyen district.
Covering more than 213 hectares, the US$1.5 billion project is expected to help lure 79 smaller projects and create a breakthrough for the local industry.