Localities play key role in international cooperation
(VOV) - All localities may become an attractive destination for foreign businesses, said Japan External Trade Organisation (JETRO) Chief Representative Atsusuke Kawada at a seminar in Hanoi on August 13.
Japan, with over 2,000 businesses, is one of the largest foreign investors in Vietnam, Atsusuke said, adding that over 90% of the investment is concentrated in the larger metropolitan and urban areas.
Recently, however, investment has started to branch out into the less densely populated and rural areas as evidenced by the construction of manufacturing facilities in Quang Ninh, Thai Binh, Hoa Binh, Nam Dinh and Nghe An.
"Japanese businesses are bullish on expanding investment throughout Vietnam,” Atsusuke said.
Tomiyuki Kimmura, Asian Development Bank (ADB) Country Director to Vietnam, in turn said provinces want to attract resources from outside, such as technology and materials to develop comprehensively. ADB has offered US$8.3 billion loans to Vietnam and at least 25% of which have been implemented through local administration.
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Ho Chi Minh City municipal Department of External Affairs Director Nguyen Hong Linh said as the leading economic hub of the country, HCM City has actively expanded cooperation with many localities at home and abroad, including Japan.
Two-way trade turnover between the city and Japan reached nearly US$2 billion in the first seven months of this year. Japan is also the fifth largest foreign investor in the city with 688 projects.
“The impressive figures demonstrate the important role of international cooperation in local socio-economic development,” Linh said.
To iron out snags in attracting investment capital at localities, Atsusuke said representatives from provincial departments should coordinate with relevant agencies to deal with difficulties in infrastructure and labour forces. In addition, localities should actively promote their strength, incentive policies and prominent features.