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Việt Nam hopes to draw more high-quality investment from Japan

Update: July, 01/2019 - 14:50


Prime Minister Nguyễn Xuân Phúc at the talks with Japanese businesses in Tokyo on July 1. — VNA/VNS Photo Thống Nhất

TOKYO – Việt Nam welcomes high-quality investment projects from Japan, especially in infrastructure, Prime Minister Nguyễn Xuân Phúc said in a round-table talk with some of Japan’s leading corporations in Tokyo on Monday.

PM Phúc said the Government would strive to hold frequent dialogues to tackle difficulties for Japanese investors.

He told participants about several free trade deals Việt Nam has engaged in such as the freshly signed EU-Việt Nam Free Trade Agreement (EVFTA), saying Việt Nam would strive to accelerate the signing of the Regional Comprehensive Economic Partnership (RCEP) in 2019.

Investing in Việt Nam would allow Japanese firms to expand their market not only in the ASEAN region but also in the EU, he said.

Japanese investors, including Toyota, Canon, TEPCON, Yusen Logistics, Sojitz, and JXTG, showed their interest in developing support industries for automobile manufacturing in Việt Nam, expecting to help boost local content in the field.

They spoke highly of Vietnamese Government’s efforts to remove bottlenecks for enterprises, suggesting more attention be paid to the training of design and maintenance engineers for FDI companies.

The Japanese sides said the Vietnamese Government should focus on developing infrastructure, particularly a comprehensive transport system which is well connected to ports in big cities.

PM Phúc said he hopes Japanese companies will continue their official development assistance (ODA) in infrastructure development, one of Việt Nam’s prioritised fields.

According to Minister of Planning and Investment Nguyễn Chí Dũng, Việt Nam has huge demand for infrastructure construction, a major breakthrough in the country’s development strategy. Việt Nam is mobilising capital for infrastructure development from the State budget, public-private partnerships, and ODA. Therefore, the country wants to have regular dialogues with foreign investors who are interested in the sector.

Minister of Labour, Invalids and Social Affairs Đào Ngọc Dung recommended Japanese firms join in vocational training in Việt Nam so they can recruit suitable employees for their business. – VNS

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