Vietnam continues to attract Japanese investors

VTV.vn - According to a survey by Jetro, in the next 1-2 years, 60% of Japanese enterprises said they would expand their business in Vietnam.
The Ministry of Planning and Investment proposes that Vietnam - Japan further promote ODA cooperation
Nearly 60% of Japanese enterprises will expand their business activities in Vietnam
Vietnam has the highest rate of Japanese enterprises expanding their business in ASEAN region
In announcing the end of phase 8 of the Vietnam-Japan Joint Initiative, Minister of Planning and Investment Nguyen Chi Dung said that with 497/594 items completed well and on schedule, accounting for 84% of the total number of categories. The joint initiative is one of the effective channels of dialogue, contributing positively to improving the business investment environment in Vietnam.

Vietnam continues to attract Japanese investors - Photo 1.
View of the Vietnam - Japan High-Level Economic Conference. (Photo: Duong Giang/VNA)

"That achievement helps to create confidence for foreign investors, including Japanese investors, to confidently invest and expand investment in Vietnam," Minister Nguyen Chi Dung emphasized at the Business Conference. Vietnam - Japan high-level event held on March 7.

Continue to promote the next phase of the Joint Initiative

Minister of Planning and Investment Nguyen Chi Dung affirmed that after more than 20 years of implementation, the Vietnam - Japan Joint Initiative has had a great and multifaceted impact on the investor community, especially the investors. highly appreciated by Japanese investors.

The event is also rated as the most effective forum among the dialogue and cooperation forums of the Vietnamese Government, said the Minister of Planning and Investment.

According to Minister Nguyen Chi Dung, with the goal of becoming a high-middle-income country by 2030, Vietnam is focusing on the application of science and technology, promoting innovation, digital transformation and transformation. green change, green economy development, digital economy, circular economy, knowledge economy.

In that journey, Vietnam wishes to have the companionship of the business community, especially Japanese businesses that have great potential and are suitable for the priority areas of the Government of Vietnam mentioned above.

Minister Nguyen Chi Dung suggested that the Vietnam - Japan Joint Initiative is not only a dialogue channel to solve problems of Japanese businesses, but through it, Japanese businesses will participate more deeply in the process. policy advice.

"Japanese businesses can propose Vietnam's policy development, focusing on groups of issues of technology transfer, digital transformation, green transformation, and innovation promotion. Besides participating in participate in the process of policy formulation and planning, I hope you will strengthen and participate deeply in the process of implementing mechanisms and policies," the Minister expressed.

In addition, the Minister also said that in the past 8 periods, there have been working groups focusing on capacity development for Vietnamese enterprises such as working groups on labor or supporting industries.

The Vietnam - Japan Joint Initiative was initiated by the Prime Ministers of the two countries in April 2003. The objective of the Joint Initiative is to support the improvement of Vietnam's investment environment and competitiveness through policy dialogues between the Government of Vietnam (including relevant ministries and sectors) and representatives of the Vietnamese public. Japan Business Council in Vietnam (represented by the Vietnam - Japan Economic Committee of the Japan Economic Federation - Keidanren, Embassy of Japan in Vietnam, JICA, JETRO, JCCI, JCCH).

Proposals to further promote the joint initiative

According to the Ministry of Planning and Investment, in terms of investment, up to now, Japan has more than 5,000 valid projects with a total investment capital of nearly 70 billion USD, ranking 3rd out of 141 countries and territories investing in Vietnam. Vietnam.

Vietnam has 104 investment projects to Japan with registered investment capital of 19.2 million USD, ranking 36th out of 79 countries and territories that Vietnam invests abroad.

Regarding trade, despite facing many difficulties due to the COVID-19 pandemic, the total import and export turnover of the two countries in 2022 will reach nearly 50 billion USD, making Japan the 4th largest trading partner of Vietnam. in which Vietnam's exports to Japan reached nearly 25 billion USD, and imports reached nearly 24 billion USD.

In addition, the Vietnam - Japan Joint Initiative, a special cooperation mechanism between the two Governments, over 20 years of implementation with 8 phases, has brought many positive results in improving the investment environment and improve Vietnam's competitiveness to attract investors in general and Japanese investors in particular.

Operating at Foster Electronic Limited Liability Company (Japan), specializing in manufacturing loudspeakers in VSIP Bac Ninh Urban Industrial and Service Park. (Photo: Thong Nhat/VNA)

According to a survey by Jetro, in the next 1-2 years, 60% of Japanese enterprises said they would expand their business in Vietnam. This is true of the Vietnamese saying "good land, birds perch." On the other hand, the number of Vietnamese in Japan has reached nearly 500 thousand people and is increasing very fast.