Japanese businesses keen to expand operation in Vietnam
| |
A Japanese invested company manufactures air conditioners in Vietnam (Photo: Daikin) |
Kyodo News quotes the JETRO report, which was first released on July 30, as saying that an increasing number of enterprises from the Far East nation are making moves to expand their business operations in Southeast Asia. Indeed, many are scaling back their participation in markets such as China due to escalating tensions between Beijing and Washington.
"Since 2018, an intensified confrontation between the United States and China has ramped up investment by Japanese companies in the Association of Southeast Asian Nations," the report states.
Furthermore, the survey indicates that 36.3% of respondents provided a similar answer when questioned about expansion in Thailand, a rise of 1.5%, while 48.1% said they would look to boost their business operations in China, a decline of 7.3%.
“The gap between the amount of Japanese investment in ASEAN and China expanded to JPY20.4 billion, equivalent to US$191 million, in 2019 from JPY10.2 billion in 2017”, the report notes.
According to JETRO, a maker of steel and nonferrous metal in the Shikoku region in western Japan said it is planning to shift exports bound for Mexico from China to the country.
Related News
Bright spots at the beginning of the year
10:51 | 23/03/2024 Headlines
Unlock capital flows and create favorable conditions for investors
10:22 | 27/03/2024 Import-Export
Vietnam experiences a trade surplus of over US$11 billion in two months
13:47 | 15/03/2024 Import-Export
Businesses hunts for effective implementation of Resolution 02
16:07 | 14/03/2024 Headlines
Latest News
Import turnover of 19 commodity groups grows over 20%
15:34 | 29/03/2024 Import-Export
Vietnam owns significant advantages in attracting FDI
15:24 | 29/03/2024 Import-Export
Nearly 7,000 tariff lines of AKFTA product specific rules need to be transposed
15:20 | 29/03/2024 Import-Export
Vietnam needs to cook up stronger global rice brand
15:09 | 29/03/2024 Import-Export
More News
Vietnam advised to fully tap CPTPP to boost exports to Canada
15:08 | 29/03/2024 Import-Export
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export
Singapore is the largest foreign investor in VN in Q1
14:43 | 27/03/2024 Import-Export
Thai Binh boosts investment, trade cooperation with Germany
14:38 | 27/03/2024 Import-Export
Lifting obstacles to develop industrial parks
10:24 | 27/03/2024 Import-Export
Your care
Import turnover of 19 commodity groups grows over 20%
15:34 | 29/03/2024 Import-Export
Vietnam owns significant advantages in attracting FDI
15:24 | 29/03/2024 Import-Export
Nearly 7,000 tariff lines of AKFTA product specific rules need to be transposed
15:20 | 29/03/2024 Import-Export
Vietnam needs to cook up stronger global rice brand
15:09 | 29/03/2024 Import-Export
Vietnam advised to fully tap CPTPP to boost exports to Canada
15:08 | 29/03/2024 Import-Export