HA NOI — Viet Nam will focus on implementing infrastructure upgrades, administrative reforms and human resources improvement to attract more Japanese investors, including those of Aichi Prefecture, said Do Nhat Hoang, head of the Foreign Investment Agency, at a business conference on Thursday.
Organised by the Ministry of Planning and Investment, the forum aimed to update investors from Aichi in particular and Japan in general to Viet Nam's current investment climate, as well as to find solutions to difficulties facing the Japanese business community.
According to Yugo Nagata from a law firm in HCM City, Japanese businesses prefer to penetrate the Vietnamese market via mergers and acquisitions (M&A), however, insufficient regulations and unsynchronised business policies are confusing Japanese firms and investors.
Japan currently is Viet Nam's largest source of foreign investment with 1,729 projects worth a total of US$28.2 billion. Aichi Prefecture accounts for 96 projects, mainly in the fields of production and support industries.
In the first eight months alone, Japanese businesses registered to invest $3.6 billion into 174 projects in Viet Nam, accounting for 20 per cent of all projects and 66 per cent of all foreign investment registered to the country. — VNS