VN moves to attract more investment from Japan

Japan was the largest foreign direct investor in Viet Nam in 2012 and 2013, according to the Ministry of Planning and Investment.

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In the first half of 2014, Japan ranked third in terms of newly-registered and additional Foreign Direct Investment capital with US$800 million. It also led other foreign investors in Viet Nam with more than 2,300 invested projects, with a total registered capital of more than US$35 billion.

Viet Nam has advantages in attracting the FDI from Japan, said Chairman of the Japanese Business Association in Viet Nam Motonobu Sato.

Viet Nam's stable politics and security, together with a huge young labor force, have made Japanese investors feel secure, he added.

Chief Representative of the Japan International Trade Organization (JETRO) Atsusuke Kawada revealed that as much as 30% of the Japanese enterprises investing aboard are considering pumping money into Viet Nam.

Meanwhile, around 70% of the Japanese businesses operating in Viet Nam are making plans to expand their operation this year.

Viet Nam has overcome Indonesia, Thailand and the Philippines to turn out to be the top destination of Japanese investors.

The Vietnamese Government and localities are launching measures to attract and support investors in all fields, especially administrative procedures and tax.

Recently, the Bank of Tokyo has provided preferential interests for Japanese investors investing in agriculture in Viet Nam.

In addition, the Vietnamese Ministry of Planning and Investment and Kanagawa Prefecture signed a Memorandum of Understanding to accelerate investment activities of the Japanese enterprises in Viet Nam and the establishment of a Kanagawa Prefecture’s industrial park in Viet Nam.

(Source:VGP)