Japanese firms highly value HCM City’s investment environment
Ho Chi Minh City is an attractive investment destination for Japanese businesses thanks to its both development potential and mechanism to accompany and support investors, according to a seminar held by the Investment & Trade Promotion Centre of HCM City (ITPC) and the Japanese Business Association of Ho Chi Minh City (JCCH) on November 30, 2022.
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| Japanese firms highly value HCM City’s investment environment: A seminar held by the Investment & Trade Promotion Centre of HCM City (ITPC) and the Japanese Business Association of Ho Chi Minh City (JCCH) on November 30, 2022. (Photo: VNA) |
Dao Minh Chanh, Vice Director of the municipal Department of Planning and Investment, said the JCCH and Japanese investors have made great contributions to HCM City’s socio-economic development, and joined hands with municipal authorities to overcome severe effects of the COVID-19 pandemic over the last two years.
Municipal authorities have taken measures to speed up administrative reform in order to create a more open and favourable investment environment for investors who choose the southern hub for their projects, Chanh said.
Japanese Consul General in HCM City Watanabe Nobuhiro said Vietnam is a destination that Japanese businesses are interested in thanks to its rapid development and efforts to diversify supply chain.
As an economic centre of Vietnam, HCM City has great potential to attract investment in the coming time, he said, adding that the Japanese business community highly values municipal authorities for efforts to promptly solve arising problems facing businesses and investors.
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| Japanese firms highly value HCM City’s investment environment: Japanese Consul General in Ho Chi Minh City Watanabe Nobuhiro spoke at the seminar. (Photo: VNA) |
Before the seminar, Japanese businesses proposed 23 issues related to the environmental and life, law and labour, tax and customs.
Vice Chairman of the municipal People’s Committee Vo Van Hoan said he hopes the Japanese business community will continue to share and contribute ideas on the areas that they are interested in the near future, and support local enterprises in seeking investment opportunities in Japan.
HCM City always leads localities nationwide in the number of foreign direct investment (FDI) projects, especially in areas of real estate business, processing and manufacturing industry, education and training.
As of November, the city was home to 1,568 projects invested by Japanese firms with a total capital of 5.5 billion VND. Japan is the third biggest foreign investor among the 117 countries and territories investing directly in the city, mainly in processing, manufacturing, wholesale and retail industries; automobile and motorbike repairing; science and technology, and construction.
(Source: VNA)
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