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Ha Noi aims to continue love affair with Japanese investment

Update: November, 13/2013 - 10:13

Ha Noi Planning and Investment Department deputy director, Nguyen Manh Quyen, told Ha Noi Moi (New Ha Noi) newspaper about plans for speeding up Japan's direct investment in the capital.

Can you evaluate the current situation of Japanese investment in the city?

Japan has been the biggest foreign investor in Ha Noi. To date, Japan has invested in a total of 480 projects with combined investment of around US$4.5 billion in many important fields, such as manufacturing mechanics, service, electronics, domestic goods production.

Most of Japanese investors have implemented projects following correct progress and legal regulations. They have made remarkable capital contributions for the city's economic growth, especially for export, job creation and sources of income for the city's budget.

Is that main reason for the city to implement the plan?

Due to impacts of the global economic depression in general and State investment restructuring following direction of slowly reducing budget investment and increasing effectiveness of capital use particularly, luring capital from foreign investment was seen as a pressing task in efforts to mobilise capital for the goal of the city's development.

Japan is a close and comprehensive partner to Viet Nam. Japan has demonstrated that it is an important partner to Viet Nam, especially to Ha Noi over the past years. The Japanese investment direction is suitable to our orientation for attracting foreign investment.

The two countries' enterprises have been implementing the contents of the two sides' partnership agreement, in which priorities were given to direct investment and bilateral trade.

What are main targets of the plan?

The plan aims to support Japanese enterprises that have been working in the Ha Noi area, creating a new investment wave in efforts to achieve the city's socio-economic development plans for the period 2011-15, towards 2030 and with vision to 2050.

The plan focuses on researching the real situation and investment trend of Japan in Viet Nam and in Ha Noi particularly. It also studies the prospects, opportunities and limits of Ha Noi in attracting investment from Japan.

Defining targets, orientation and key fields and proper projects would help in proposing measures for calling Japanese investment and improving the investment environment during the period 2013-15.

What measures would be carried out to implement the plan?

The city will implement a series of measures to boost Japanese investment. A group of measures would help in supporting and handling obstacles for Japanese enterprises with focus on setting up a collaboration mechanism on enterprise and project management and policies for encouraging and honouring good enterprises.

Groups of measures for investment promotion would highlight providing information for schemes, development plans, information and instruction of administrative procedures in mass media and e-newspapers (in English and Japanese).

Other measures would aim to increase land access, space for production and business with a focus on review sites that could attract foreign investment, especially schemes and situations of land use in industrial areas.

Measures would also include reforming administrative procedures in the investment field, including the review and public process of handling administrative procedures in English and Japanese.

The city's planning and investment department would set up a process for verification in specific fields in efforts to increase transparency and shorten the time of verification.

The city would collaborate with Japanese investors in establishing and operating two vocation training schools following the demands of Japanese enterprises - immediately the Phu Xuyen Job Training School. Through this, it would help in strengthening co-operation and technology transfer opportunities in foreign investment areas.

Japan is the biggest investor in Ha Noi. Thus, strengthening investment promotion and co-operation with Japan would bring about many benefits, such as the improvement of the foreign investment situation, human resources quality, strengthening local enterprises' competitiveness and specially contributing to the city's sustainable development strategy. — VNS



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