Japanese praise Vietnam's investment environment
Japanese businesses in Vietnam say the country is a safe and successful destination for investors.
Sagara Hirohide, CEO of Marubeni Vietnam, a Japanese investor, participated recently in the Vietnam-Japan online investment promotion conference held by the Ministry of Planning and Investment and Japanese Embassy in Vietnam.
“One day I accidentally forgot my wallet at a pho shop and I only realized that I could not find my mobile phone when I went out to buy power bank. Shortly after that, the owner of the shop ran after me and gave me back the wallet,” he said.
“In Vietnam, I am not afraid of losing things if I drop them,” he added.
Regarding business opportunities, Hirohide said since problems have arisen in China, Vietnam has proven to be a reliable investment destination.
He believes that Vietnam will offer attractive investment mechanisms that will help bring Vietnam to a new development turning point.
Miura Nobufumi, chair of the Japan Chamber of Commerce and Industry (JCCI), affirmed that Japanese businesses have serious interest in the Vietnamese market.
|Vietnam is the first country in the world showing the advantages of supply diversification. Japanese businesses have high interest in Vietnam, viewing it as an investment destination in the new normal status of today.|
Up to 2,800 people surveyed by JCCI said they want to come to Vietnam to seek investment opportunities.
However, JCCI pointed out that there are many problems Japanese businesses complain about, including poor infrastructure and complicated procedures.
Praising Vietnam’s achievements in fighting against Covid-19, Envoy Okabe Daisuke from the Japanese Embassy in Vietnam said with high risk management administration, Vietnam has begun to revive its economy.
Vietnam is the first country in the world showing the advantages of supply diversification. Japanese businesses have high interest in Vietnam, viewing it as an investment destination in the new normal status of today.
Okabe Daisuke made a 4-point proposal to the government of Vietnam.
First, relaunch travel between the two countries. In May and June, Vietnam allowed 500 Japanese specialists to enter Vietnam.
Second, improve the implementation of public investment projects. No economic stimulus measure can bring high efficiency as public investment can. The subway No 1 Ben Thanh – Suoi Tien, the Ben Luc – Long Thanh Highway and Nhon urban railway are effective measures to stimulate the economy.
Third, attract foreign direct investors, including Japanese. The Japanese Ministry of Economy, Trade and Industry is providing a $2.3 billion credit package to help businesses diversify their production chains. Meanwhile, Japan Bank for International Cooperation (JBIC) also has a finance support package to help businesses overcome the Covid-19 pandemic.
Fourth, it is necessary to upgrade Vietnam’s credit rating and improve the disbursement and decision-making process.
By fulfiling certain criteria, some foreign investors would receive special treatment, said Minister of Planning and Investment Nguyen Chi Dung.
As Vietnam is attracting high-quality foreign inflows, domestic firms now have an even greater opportunity to draw technology transfer to improve added value in its manufacturing industry.