Conference to boost investment in Vietnam (Photo: VNA)The move is expected to help Vietnam promote itsadvantages of a dynamic growing economy, a potential consumption market, astrategic manufacturing location, and an important link in the global valuechain, he said.
Implementing the policy of active internationaleconomic integration, Vietnam has signed 12 new-generation free tradeagreements (FTAs) and is undertaking negotiations to ink other important dealsin the time ahead, he added.
This creates favourable conditions for foreigninvestors, including those from Japan, to carry out major projects in Vietnam,especially in the fields of their strength such as high technology andinfrastructure.
Vietnam has continuously worked with Japan viaspecial dialogue channels to address difficulties and seek solutions to improvethe business environment and increase bilateral investment cooperation, hesaid.
Such dialogue mechanisms as Vietnam-Japan commoninitiative; policy dialogue of Keidanren (Japan Business Federation),Vietnam-Keidanren economic dialogue; and policy dialogue between Vietnam’sMinistry of Planning and Investment and the Japan Chamber of Commerce andIndustry (JCCI) are being effectively carried out and hailed by the Japanesebusiness community, he noted.
A number of margin activities have been held onthe occasion of Prime Minister Nguyen Xuan Phuc’s official visit to Japan toattend the 23rd International Conference on the Future of Asia from June 4-8 topromote trade and investment between the two countries, he said.
The PM talked with representatives from Japanesebig companies and had dialogues with Keidanren and entrepreneurs in Kansairegion, he added.
From which, it could be said that the PM’songoing visit to Japan has received special attention from Japanese businesses,he said, hoping that the flow of Japanese investment will strongly increase inthe coming time to live up to the expectations of the two countries’ leadersand people as well as their cooperation potential.
Vietnam and Japan established diplomatic ties in1973. Since then the bilateral cooperation has been incessantly increasedacross trade, investment and development cooperation.
Japan is currently the biggest supplier ofofficial development assistance (ODA) for Vietnam, making up about 30 percentof total ODA committed to the Southeast Asian country.
At present, Japan provides about 200 billion JPY(1.8 billion USD) of ODA for Vietnam annually, focusing on fields to promoteeconomic growth and increase global competitive edge; improve social affairs;protect the environment; and enhance administrative management capacity.
Japan is running over 3,400 investment projectsin Vietnam with a total registered capital of nearly 44 billion USD. In thefirst five months of 2017, Japanese businesses poured nearly 2 billion USD inVietnam. The figure is expected increase in the time to come.
Japan is the fourth biggest trade partner ofVietnam after the US, the EU, and China.
Two-way trade increased to 30 billion USD in2016 from 16.7 billion USD in 2010.
Japanese foreign direct investment (FDI) hascontributed to establishing some key industrial sectors in Vietnam such astelecommunication, oil and gas mining and processing, electronics, andinformation technology.
According to a survey conducted by the JapanExternal Trade Organization (JETRO) in 2016, up to 60 percent of Japanesebusinesses revealed their plan to expand investment in Vietnam.-VNA
VNA
