Vietnam remains attractive to Japanese investors amid COVID-19

ABO/NDO – Vietnamese ministries and agencies have paid attention to supporting foreign investors, including those from Japan, said Fujimoto Masayoshi, Chairman of the Japan-Vietnam Economic Committee.

Vietnam has helped foreign investors remove difficulties during the implementation of projects, Fujimoto cited by Cong Thuong (Industry&Trade) newspaper as saying.

In the first nine months of this year, Japan poured US$3.3 billion into Vietnam, accounting for 14.7% of the total FDI registered in the Southeast Asian nation.

Illustrative image (Photo:: congthuong.vn).

Notably, apart from 131 projects, Japanese firms adjusted capital for 91 projects and contributed capital and purchased shares of 155 projects in Vietnam.

A number of projects that have investment capital worth billions of US dollars include the US$1.31 billion O Mon II Thermal Power Plant project in the Mekong Delta city of Can Tho, and the US$611.4 million Kraft Vina Paper Factory project in the northern province of Vinh Phuc.

Fujimoto recommended that Vietnam continue to improve its business climate, develop infrastructure, and offer more incentives to further facilitate business and production activities of foreign investors.

The Governments of Vietnam and Japan have recently launched the Vietnam-Japan Joint Initiative, Phase VIII, with a primary focus on improving the investment climate and speeding up infrastructure investment in the form of public-private partnership (PPP). Phase VIII will also help reform State-owned enterprises (SOEs), accelerate the supporting industries, and resolve land-related issues.

In addition, Phase VIII will address a number of macro-economic issues, along with feasible policy recommendations aimed at improving the local investment environment, attracting more Japanese investments in Vietnam.

(Source: NDO)