Updated  
February, 10 2014 08:51:00

President Sang attempts to entice increased Japanese investment

President Truong Tan Sang (L) meets with Chairman of the Japanese Business Association in Viet Nam Motonobu Sato and representatives of several Japanese firms in the country. — VNA/VNS Photo Nguyen Khang

HA NOI  (VNS)— President Truong Tan Sang said he hoped Japan would increase investment in Viet Nam in the coming years, focusing on the six prioritised areas listed in the country's industrialisation strategy.

These include electronics, farm machinery, agricultural and fisheries processing and shipbuilding.

Speaking at a Ha Noi meeting on Saturday with Chairman of the Japanese Business Association in Viet Nam Motonobu Sato and representatives of several Japanese firms in the country, the President said Viet Nam would place more importance on the development of industrial parks in the years ahead.

Hailing the significant contributions of the Japanese business community in promoting the two countries' cooperation, he pledged that the country would provide favourable conditions for foreign investors, including those from Japan.

There was much potential for bilateral co-operation, the president said, especially in economics, trade and investment.

The Japanese group reiterated their efforts to enhance co-operation and investment in Viet Nam in the years to come in order to raise the quality and value of their investment in the country.

They also praised Viet Nam's endeavours in creating favourable conditions for foreign investors, including the implementation of the Japan-Viet Nam joint initiative on improving the investment environment.

Japan is now Viet Nam's leading investor, with capital totalling US$5.7 billion in 2013, making up 26.6 per cent of foreign direct investment (FDI) in Viet Nam.

The meeting was also attended by Japanese Ambassador Hiroshi Fukada, representatives of the Japan International Cooperation Agency, the Japanese Business Association in HCM City and the Japan Trade Promotion Organisation, among others. — VNA/VNS

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