Vietnam offers opportunities for Japanese enterprises’ expansion plans
In fact, many Japanese enterprises have invested or expanded investment activities in Vietnam, focusing on the fields of food processing, agro-forestry-aquaculture, consumer goods, electronic components, industrial products, construction, transport and environmental protection.
Not only big firms, small and medium-sized enterprises are also increasing their investments in international markets.
JETRO has provided Japanese firms with advertisement costs and market information, and helped them to connect with Vietnamese investors, thus making it easier for them to operate in Vietnam.
Up to 70 percent of Japanese enterprises operating in Vietnam have committed to expanding their investment, production and business in the country in the coming time. This proved that Vietnam continues to be an important destination for Japanese firms.
JETRO Chief Representative in Ho Chi Minh City Takimoto Koji said the Vietnamese government and Japanese enterprises should pay attention to training high-quality human resources, who can control robots.
Priority should be also given to developing energy and infrastructure, especially transport infrastructure, he said.
Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry’s Branch in HCM City, said Vietnam is accelerating reformd to attract investment, and supporting investors in all fields, especially in handling administrative procedures and reducing taxes.
The Vietnamese government has devised many solutions to improve the country’s investment and business environment in a bird to lure more foreign investors, especially those from Japan, he said.
To cooperate sustainably with Japanese partners, Vietnamese firms need to invest more in science and technology to better the quality of their products and make their production more professional, Thanh suggested.
They should also boost linkages to meet the demand for materials from Japanese businesses, he stressed.
Economic and trade relations between Vietnam and Japan have recorded rapid development in recent years. Japan is now the fourth largest trade partner of Vietnam after China, the US and the Republic of Korea. The two countries strive to lift their trade turnover to 60 billion USD by 2020.
By the end of 2018, Japan topped the list of foreign investors in Vietnam with combined registered capital of 9.5 billion USD. Around 1,800 Japanese enterprises are operating in the Southeast Asian country, some 1,000 of which are in Ho Chi Minh City.
Related News
Major reforms in the management of state capital in enterprises
09:18 | 01/12/2024 Finance
Amending the Law on Corporate Income Tax, not giving preferential treatment to overlapping and spreading industries
08:53 | 26/11/2024 Finance
Over 300 Southern enterprises attend workshop to provide feedback to the General Department of Vietnam Customs
10:50 | 23/11/2024 Customs
Hanoi Customs resolves tax policy queries for enterprises
09:26 | 22/11/2024 Regulations
Latest News
Virtual booths open new doors for Vietnamese farm produce in China
19:08 | 01/12/2024 Import-Export
Vietnam’s exports to the Philippines surge nearly 24% over 10 months
09:19 | 01/12/2024 Import-Export
How will seafood exports to the US be affected after the US election?
09:17 | 01/12/2024 Import-Export
Vietnam’s auto industry solidifies its place in the global market
15:09 | 30/11/2024 Import-Export
More News
Top 10 reputable logistics companies in 2024 announced
15:07 | 30/11/2024 Import-Export
Exporting via e-commerce: Hesitation leads to missed opportunities
11:09 | 30/11/2024 Import-Export
The way for Vietnamese goods in the e-commerce race
11:08 | 30/11/2024 Import-Export
Coffee exports set to hit 5.6 billion USD in 2024
15:34 | 29/11/2024 Import-Export
Hai Duong exports grapefruit to EU
15:31 | 29/11/2024 Import-Export
Commodity group expects to hit import turnover of US$100 billion
11:07 | 29/11/2024 Import-Export
US businesses increase shrimp imports ahead of tax hike
11:05 | 29/11/2024 Import-Export
Ample room for Vietnam-Bulgaria economic, trade cooperation
14:04 | 28/11/2024 Import-Export
Peru’s mega-port to open opportunities for Vietnam's import-export, logistics
14:02 | 28/11/2024 Import-Export
Your care
Virtual booths open new doors for Vietnamese farm produce in China
19:08 | 01/12/2024 Import-Export
Vietnam’s exports to the Philippines surge nearly 24% over 10 months
09:19 | 01/12/2024 Import-Export
How will seafood exports to the US be affected after the US election?
09:17 | 01/12/2024 Import-Export
Vietnam’s auto industry solidifies its place in the global market
15:09 | 30/11/2024 Import-Export
Top 10 reputable logistics companies in 2024 announced
15:07 | 30/11/2024 Import-Export