Vinh Phuc strengthens connection and cooperation with Japanese investors

In order to strengthen connectivity, promote friendly cooperation activities, and attract investment between Vinh Phuc province and Japanese localities and businesses, Vinh Phuc province coordinated with the Ministry of Foreign Affairs, the Japanese Embassy in Vietnam, and the Japan Trade Promotion Organization to organise the a conference on boosting Vietnam-Japan connection, cooperation, and development in Vinh Phuc province.

The conference will take place on June 23 at the Dic Star Hotel in Vinh Yen city under the chair of the Vietnamese Minister of Foreign Affairs of Vietnam, Japanese ambassador in Vietnam, agencies and committees, and hundreds of businesses from both countries.

During the conference, the participants will visit industrial zones that Japanese enterprises are investing and doing business in Vinh Phuc province; booths of oustanding products of the province, potential investment advantages, as well as achievements of cooperation between Vietnam and Japan.

The exchange, introduction, investment promotion, and signing of MoU and investment cooperation agreements will also take place at the conference.

Japan is currently the second-largest investor in Vinh Phuc (following South Korea) with nearly 60 projects with the total investment capital of over $1.4 billion. Japanese projects mainly invest in automobiles, motorcycles, and manufacturing.

Production and business activities of Japanese enterprises are growing well, contributing up to 70 per cent of the province's total annual budget revenue, creating jobs for nearly 24,000 workers.

By the end of May 2022, Japan has 59 projects (out of a total of 435 foreign direct investment projects in the province), with the registered capital of more than $1.62 billion.

Most of them are successful and have made great contributions to the province's socioeconomic development, especially such investors as Honda, Toyota, Sumitomo, and Sojitz Corporation.

Regarding the friendly cooperation, Vinh Phuc has established cooperative relations with two Japanese localities, Akita province (in 2015) and Tochigi province (in 2021).