Conference seeks to promote Japanese investment flows into Vietnam

At the conference (Photo: VNA)

Hanoi - An online conference was jointly organised in Hanoi on July 9 by the Ministry of Planning and Investment (MoPI), the Japanese Embassy in Vietnam, the Japan External Trade Organisation (JETRO) and the Japan Bank for International Cooperation (JBIC) to promote Japanese investment flows into Vietnam.

The conference saw the participation of more than 1,000 Japanese enterprises in Japan and around the world.

Addressing the event, Vietnamese Deputy Minister of Planning and Investment Vu Dai Thang said the conference provided the latest information on Vietnam's business and investment environment in the context that Vietnam has successfully controlled the COVID-19 pandemic and issued new policies, including the Law on Investment (revised), the Law on Enterprises (revised), and the Public-Private Partnership (PPP) Law.

The Vietnamese National Assembly recently has approved the European Union -Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA), he noted.

Director of the MoPI’s Foreign Investment Agency Do Nhat Hoang said Vietnam has a stable political situation, high economic growth, abundant human resources, potential market, and increasing per capital income.

Vietnam has also expanded international integration and cooperation with other economies worldwide, he stressed, adding that the Southeast Asian country has a strategic position as it takes only 3-5 hours to fly from Vietnam to Japan, Thailand, India and China – the key investment hubs in Asia.

Vietnam also has preferential policies to attract foreign investment, with priority given to new technology, environmentally-friendly and high value projects, Hoang said.

Aguin Toru, Chief Representative of JBIC’s Hanoi Office, said the bank considers Vietnam as a key area, and an important partner of Japan in many fields such as infrastructure, production and resources.

Meanwhile, Envoy Okabe Daisuke from the Japanese Embassy in Vietnam said Japanese investors are now very interested in Vietnam.

According to a survey on Japanese enterprises in Asia and Oceania conducted by JETRO in February 2020, 63.9 percent of asked Japanese businesses that are doing business in Vietnam said they will continue to expand business activities in the Southeast Asian nation, he noted.

Okabe said in order to attract more investment, Vietnam needs to speed up the disbursement of capital for public investment projects, ensure transparency, fairness, and effectiveness in implementing policies, and further foster international integration.