Hanoi and Japan stage conference for investment-tourism co-operation

Hanoi and Japan increased co-operation in investment and tourism

On March 23, the Hanoi Investment, Trade, and Tourism Promotion Centre organised the Hanoi Conference Promoting Investment and Tourism Co-Operation between Japan and Hanoi with the participation of 200 representatives from agencies and companies from the two countries.

Being an activity on the side-lines of the Japanese Cultural Exchange Festival to be held on the occasion of Vietnam and Japan celebrating 45 years of diplomatic relations, the conference is an opportunity to tighten diplomatic relations, which matches the statements of “The elevation of ties to an extensive strategic partnership for peace and prosperity in Asia” in March 2014 and “Joint Vision Statement on Vietnam-Japan Relations" made in September 2015.

The event also provides a platform for the capitol to court capable and experienced investors to take part in Hanoi-based projects, gearing toward the perfection of urban infrastructure and propelling Hanoi’s socioeconomic development.

Speaking at the conference, chairman of the Hanoi People’s Committee Nguyen Duc Chung said, “Japan is the second largest foreign investor and the leading ODA contributor of Hanoi, with the accumulated ODA capital of $3 billion for 32 projects.”

This was the third edition of the annual event. Since organising the first conference two years ago, Hanoi has lured in 226 newly-registered projects with the total registered capital of $981 million.

Besides, numerous investment commitments were realised, including the AEON MALL Hadong project invested by Japanese giant shopping mall developer AEON MALL Co., Ltd. The project broke ground after only nine months of receiving the investment certificate. The construction will begin in earnest soon so that it can be opened in 2019.

Besides, the BRG-Sumitomo joint venture and Hanoi intensified efforts to kick-off the construction of a mega smart city project in this December.

The capital has been consistently ranking first in FDI attraction, especially after expanding its administrative boundaries. Foreign capital mainly comes from the most developed countries, such as Japan, Singapore, South Korea, and goes into real estate, processing and manufacturing, information technology, finance, and banking.

2017 was a bumper year for tourism in Hanoi, as five million international visitors came to the city, including 290,000 Japanese visitors, a 22 per cent jump. This year, Hanoi is set to welcome more than 25.4 million local and foreign visitors, including 5.5 million foreign visitors, generating VND75.7 trillion ($3.44 billion) in tourism revenue.