More than 1,000 Japanese businesses seek investment opportunities in Vietnam

Vietnam always prioritizes advanced, new, modern, high-value-added, FDI technology projects to form a global supply chain.

Mr. Vu Dai Thang, Deputy Minister of Planning and Investment (MPI), emphasized in front of more than 1,000 Japanese investors attending the Vietnam - Japan online investment promotion conference, July 9.

This is the first time MPI has organized a large-scale international investment promotion conference online.

According to MPI, the country has 32,000 FDI projects so far, with a total investment of about 380 billion USD. Japan is the second country in terms of FDI capital in Vietnam, with a total registered capital of over 60 billion USD

According to Mr. Thang, the business investment environment of Vietnam is improving drastically, ranking 70/190 countries in terms of investment ease according to the WB's business investment environment ranking in 2019- 2020.

JETRO's survey also shows that over 63% of Japanese businesses doing business in Vietnam have the desire to expand business investment in the near future, the highest in ASEAN.

Appreciating the success of the COVID epidemic in Vietnam, the Japanese Embassy in Vietnam - Okabe Daisuke - said that with high risk management capacity, Vietnam achieved success while other countries were miserable because of COVID. then the Vietnamese economy will recover quickly.

Vietnam also shows that it is the first country to see the advantage of diversifying supply. Japanese businesses are very interested in Vietnam, considered an investment destination in a new normal state.

For many years, Japan has always been a leading country in FDI investment in Vietnam - Photo: BN

But to seize the opportunity, to become a stronger, more prosperous country, Mr. Okabe Daisuke proposed to the Government 4 points.

One is to reopen travel between the two countries. In May and June, Vietnam allowed 500 Japanese experts to enter Vietnam. The governments of the two countries have also held a meeting to reopen travel and promote travel.

Secondly, improving the implementation of public investment projects because no economic stimulus is as effective as quickly implementing existing public investment projects. Early operation of Metro Line 1 of Ben Thanh - Suoi Tien, Ben Luc - Long Thanh Expressway, Nhon urban railway - is a very effective economic stimulation solution.

The third is attracting FDI, including Japanese investors. Currently, Japan's Ministry of Industrial Economy provides a 2.3 billion USD credit package to promote businesses to diversify production supply chains, JIBIC Bank also applies the COVID-19 epidemic financing package.

Fourth, it is necessary to increase Vietnam's credit rating and improve disbursement and decision-making delays.

Mr. Do Nhat Hoang, Director of the Foreign Investment Department, said that in terms of the scale of registered capital of FDI, Japan ranked second in many years but in terms of disbursement rate, Japanese investors. always on top.

And to support Japanese investors coming to Vietnam to invest, MPI has department to support investors such as trade counselor in Japan and investment promotion centers in Hanoi, Da Nang, and Ho Chi Minh City. .HCM.

Vietnam and Japan also signed agreements to avoid double taxation, investment protection, and many other agreements to ensure the interests of businesses in both countries in investment and trade.