INVEST IN VIETNAM: Japanese businesses continue to be interested in investing in Vietnam

The Department of Foreign Affairs worked with the Japanese Delegation

At the meeting,  Deputy Director General of the Foreign Investment Agency Vu Van Chung informed the Japanese Delegation about some key features of the situation of attracting foreign investment to Vietnam, through outstanding achievements, especially from the success of Japanese businesses in the Vietnamese market; in addition, Deputy Director Vu Van Chung also said that the investment environment is favorable, Vietnam's potential investment market is currently very attractive to foreign investors...

As of August 2019, Vietnam has attracted 353.7 billion USD of FDI with 29,532 projects from 132 countries and territories, with total disbursed capital reaching more than 57.6%. Japan is the 2nd largest investor out of 132 countries and territories investing in Vietnam with 4247 projects, registered investment capital of more than 58.22 billion USD. In 2017 and 2018, Japan ranked 1st in terms of investment in Vietnam. In the first 8 months of 2019, Japan's registered capital was 2.3 billion USD.

Vietnam is currently one of the attractive destinations for international investors, due to possessing a number of important advantages such as political stability; owning a favorable geographical location;  abundant and competitive  human resources compared to many countries in the region; the economy developed stably with a high annual GDP (6-7%); the scale of the economy is relatively large, about 220 billion USD with more than 97 million people, of which 50% are under the age of 30, have an open consumption trend, the middle class is considered to belong to the fastest growing group in Asia; highly competitive investment incentive conditions; actively integrate deeply with the world economy. With a young population, middle class and rapid urbanization, Vietnam has a lot of room to develop modern, integrated and smart urban areas. The Vietnamese government is also developing policy frameworks on smart city development.

At the meeting, besides introducing the main purpose of the business trip to Vietnam, the representative of the Japanese side also  highly appreciated the investment environment and emphasized the special attention of many Japanese businesses to the  market Vietnamese schools.  Thereby, the two sides discussed and exchanged directions for cooperation in a number of key areas, mainly focusing on the real estate market, infrastructure development, urban areas, transportation, etc.

According to the proposal from the Japanese side, in order to create conditions for some Japanese businesses to collect more information in areas of interest. Deputy Director Vu Van Chung also introduced a number of related units in Vietnam, so that the Japanese delegation can contact and work, typically the Vietnam Real Estate Association.

In the coming time, the two sides hope that the investment cooperation between Vietnam and Japan will grow stronger, and  Japanese businesses will also continue to achieve more success when investing in Vietnam.

According to DTN/ BK