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Ha Tinh appeals for Japanese investment

Update: September, 27/2013 - 08:34

The central province of Ha Tinh called for foreign investors, including those from Japan, to invest in support industries, machinery, engineering, transport and economic and industrial zone infrastructure.— Photo dpihatinh

TOKYO (VNS) — The central province of Ha Tinh called for foreign investors, including those from Japan, to invest in support industries, machinery, engineering, transport and economic and industrial zone infrastructure.

The provincial People's Committee chairman Vo Kim Cu delivered this message during a seminar in Tokyo yesterday, one of several activities marking the Viet Nam-Japan Friendship Year and the 40th anniversary of bilateral diplomatic ties between the two countries.

Representative from 150 Japanese economic and financial organisations and businesses came to the event to learn more about the province's strengths, especially iron ore, a resource that will enable the locality to develop steel production as well as a support industry.

Ha Tinh also boasted a convenient transport system, young personnel and attractive incentives for investors, Cu said, adding that the province currently ranks sixth in terms of foreign investment attraction.

He vowed that provincial authorities would continue to facilitate Japanese investors, especially in administrative procedures.

Vietnamese Ambassador to Japan Doan Xuan Hung said he believed that the province's determination to spur economic development and its breakthroughs in the steel and electricity industries would persuade Japanese investors to come.

Addressing the forum, Vietnamese Ambassador to Japan Doan Xuan Hung said he believed that the province's determination to spur economic development and its breakthroughs in the steel and electricity industries would persuade Japanese investors to come.

Hirokazu Yamaoka, a representative from the Japan External Trade Organisation, suggested localities like Ha Tinh draw more Japanese investors into their local development projects, especially in steel manufacturing.

The Ha Tinh Minerals and Trading Company (Mitraco) and Japan's IME Inc signed a deal at the event to distribute Zircon and quartz powder products in Japan.

Japanese businesses are currently operating in 36 Vietnamese localities, most of them in the seven biggest provinces and cities.

Japan is Viet Nam's leading source of foreign direct investment, with 2,029 projects capitalised at US$33.06 billion.

Japanese businesses invested more than $1 billion in 190 new projects in Viet Nam during the past eight months, while 80 Japanese-invested projects raised their levels of capital by $3.29 billion. — VNS

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