Gate opens to industrial park development

Both parties agreed upon future meetings in Vietnam and Tokyo for interested small- and medium-sized (SMEs), industrial park managers and the authorities to deepen information exchange in 2012.  

As a leading consulting firm in overseas business expansion, Forval Corporation hopes to introduce more Japanese investors to Vietnam.

“Vietnamese supporting industries will be fostered while Japanese SMEs will be developed,” Forval Corporation chairman Hideo Okubo said.

Due to the aging society, slow domestic consumption and stagnant production activities since the major earthquake, an increasing number of Japanese SMEs are seeking outside opportunities to sustain and develop their businesses.

“Japanese’s enterprises are seeking more opportunities to go aboard, however, they lack preliminary knowledge which is detrimental their expansion,” Okubo said.

In order to attract Japanese firms, Forval stressed factory, supporting facilities, simplification of procedures, human resources, IT and network development support.

“In order to attract more enterprises, Vietnam’s industrial zones are starting to let customers choose the size of each unit in accordance with their needs. It can range from 500 to more than 1000 square metres,” said Foreign Investment Agency deputy director Nguyen Noi.

Supporting facilities such as houses, restaurants and  schools should also be set up for investors. Forval suggested industrial parks to set up common meeting facilities for investors to use.

Long and complex application procedures made SMEs difficult to get access to Vietnam’s market. In order to save time and ease the language difficulties, Forval suggested establishment of a completed service packet in Japanese.  

In education support, Vietnam needs to set up vocational training schools which will provide necessary training and help employees adjust to Japanese culture.

Another important issue is IT, which should be fully supported by an independent professional party to guarantee the accuracy and stability in a timely manner.

Developing network connections through holding exchange meetings where potential buyers meet sellers, is also necessary.