Hai Phong seeks investment from Japan, Thailand

A corner of Hai Phong city. — Photo haiphong.gov.vn

BANGKOK (Biz Hub) — A conference entitled "Hai Phong city – North Vietnam's new manufacturing centre" took place in Bangkok, Thailand, on October 25 to seek to attract more investments from Thailand and Japan.

The event was co-organised by the Foreign Investment Agency (FIA) under Vietnam's Ministry of Industry and Trade, the Board of Investment of Thailand (BOI) and the Japan External Trade Organisation (Jetro).

According to Dang Xuan Quang, deputy head of the FIA, Vietnam's signing of a Free Trade Agreement with the European Union and its participation in the Trans-Pacific Partnership negotiations are reasons to draw more investments from foreign businesses, including those from Japan and Thailand.

Representatives of northern Hai Phong city called on Japanese and Thai enterprises to boost investment in the city and affirmed the city always creates favourable conditions for investors.

Hai Phong city has the biggest sea port in the north of Vietnam. It is well connected with Hanoi and is a pillar in the northern economic development triangle.

The city has attracted US$13.63 billion in foreign direct investment in 480 projects.
So far this year, it lured around $3 billion.

Deputy Chairman of Jetro Haruhiko Ozasa spoke highly of the dynamic, stable investment environment in Vietnam and said many Japanese enterprises expressed their interest in investing in Vietnam.

Representatives of ministries and localities from Vietnam, Japan and Thailand answered questions from enterprises on investment procedures and policies in Vietnam.

Vietnam has attracted $23.52 billion in FDI in 2015 and $16.43 billion in nine months of 2016, reported the Ministry of Planning and Investment.

Japan has 3,212 operating projects with a combined capital of $42.03 billion, being the second largest investor in Vietnam, while Thailand has invested $7.73 billion in 443 projects in Vietnam, making it the 10th biggest investor. — VNS