Japanese group to help with new growth phase

Thursday, Oct 09, 2014 08:30

The forum carried the theme "Vietnam 2020 and Beyond: Modernisation for the Next Stage of Growth". — Photo thobaonganhang

HA NOI (Biz Hub) — The Foreign Investment Agency (FIA) and Japanese heavy industry group IHI Corporation held a forum yesterday afternoon to help enhance collaboration between the company and Vietnamese investors and partners.

The forum carried the theme "Vietnam 2020 and Beyond: Modernisation for the Next Stage of Growth". At the forum, Do Nhat Hoang, FIA director, said Japan has been the country's leading economic partner and investor.

Hoang cited the contribution of Japanese companies through direct investment, as well as official development assistance (ODA) loans from the Japanese Government and Japan International Cooperation Agency.

He said Japanese support was an important additional resource that would improve Viet Nam's infrastructure system and enhance the competitiveness of its economy.

Japanese investors recognise Viet Nam as a priority area for investments with favourable and attractive conditions. Japan has so far invested in 2,410 projects in Viet Nam worth US$36.3 billion.

Tamotsu Saito, IHI Corporation president and chief executive officer, said his group clearly understood Viet Nam's development targets and was willing to participate in the country's development process. IHI will actively co-operate with and support Viet Nam's partners in training and technology transfer, he added.

Representatives of the two countries' businesses also discussed the sharing of experiences in investment co-operation. They said the business investment environment in Viet Nam was not really perfect as Viet Nam was a developing country, so its legal system was gradually improved.

Hoang confirmed that Viet Nam was trying to improve its business and investment climate in a positive way and has been recognised by foreign investors as a result, with FDI projects further increasing in recent years.

Attracting FDI projects from Japanese and other foreign companies remains important, so Viet Nam has been exerting efforts to further improve its legal framework and raise the efficiency of FDI projects.

IHI manufactures a range of products, from plants, machinery and facilities that support industry and society to simpler facilities that are closer to people's daily lives.

In Viet Nam, IHI is currently involved in a number of important projects, including the Nhat Tan Bridge, Binh Bridge and Ha Noi- HCM City railway system rehabilitation. — VNS

Comments (0)