Japanese investment in Viet Nam tops $37.5 billion as of April's end

Thursday, May 21, 2015 08:00

Nissin Manufacturing Viet Nam's factory at Hoa Binh Province's Luong Son Industrial Park. Japan's firms have funded more than 2,600 projects in Viet Nam as the country provides low labour costs and and good incentives. — VNA/VNS Photo Danh Lam
HA NOI (Biz Hub) — Japanese investors have injected US$37.5 billion into 2,619 valid projects in Viet Nam, as of the end of April.

Japanese funding accounted for 14.3 per cent of the country's total foreign-invested projects, as well as 14.6 per cent of the total foreign direct investment registered in the nation.

Latest statistics from the Ministry of Planning and Investment's Foreign Investment Agency (FIA) revealed that Japan ranked second among countries and territories investing in Viet Nam during the reviewed period.

Further, up to 1,344 Japanese-invested projects, worth a combined $31.3 billion, were involved in the processing and manufacturing sector, making up 83.3 per cent of all Japanese registered capital in this period.

In order to attract more Japanese investment capital, Viet Nam should further assist Japanese businesses that are operating in the country, which is the most effective and practical investment promotion measure, FIA officials said.

Dang Xuan Quang, deputy head of FIA, said Viet Nam remained an attractive destination for Japanese investors, as 60 per cent of Japanese investors in the country remained profitable.

Additionally, Fuji Xerox President Tadahito Yamamoto said their factory in Viet Nam remained one of the leading manufacturing facilities for Xerox throughout the world, reported vnexpress.net, a local online newspaper.

Investors were attracted to Viet Nam because of low labour costs and the many government investment incentives for foreign investors, he said. — VNS

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