Tuesday, September 27 2016

VietNamNews

South courts Japanese firms

Update: June, 11/2016 - 09:07
The administration of the southern Đồng Nai Province promised yesterday to remove obstacles facing Japanese companies.— VNA/VNS Photo

ĐỒNG NAI — The administration of the southern Đồng Nai Province promised yesterday to remove obstacles facing Japanese companies.

The meeting, of the provincial Customs Department and the Japanese Business Association in Đồng Nai, attracted representatives from more than 100 Japanese firms.

While some spoke highly of the local administration’s procedural reforms and favourable business conditions, others pointed out problems pertaining to import-export procedures, new taxation and customs regulations, the establishment of affiliates, and access to relevant agencies.

Lê Văn Danh, director of the provincial Customs Department, said measures would be devised to tackle obstacles facing business operations.

Maeno Kojil, chairman of the Japanese Business Association in nearby HCM City, said the dialogue helped both sides in attempting to address challenges and help enterprises operate profitably within the laws. He asked for similar dialogues to be held in the future.

At the dialogue, the provincial Customs Department and the Japanese Business Association signed a co-operation agreement to streamline their information connectivity, which will enhance the companies’ adherence to trade-related rules and the State’s customs management.

In the first five months of 2016, Đồng Nai continued to be a leading FDI destination in Việt Nam with nearly US$900 million pouring into the province, accounting for 15 per cent of the country’s total FDI and 90 per cent of the local target for the whole year.

Japan invested in 10 projects with a registered capital of $49.6 million in Đồng Nai between January and May. The province currently ranks fourth nationwide in terms of Japanese investments, with more than 205 projects worth over $3.7 billion. – VNS

 

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