At the Tokyo – Việt Nam Business Partnership Seminar on Wednesday in Hà Nội. — Photo vietnamnet.vn

The Tokyo Metropolitan Government’s Small and Medium Support Centre held a seminar on Wednesday in Hà Nội aiming to promote Vietnamese investments in Tokyo.

Speaking at the Tokyo – Việt Nam Business Partnership Seminar, Yuji Ikeda from Deloitte Tohmatsu Venture Support, said that the city has the fourth highest GDP in the world and is a key destination for foreign investments.

Out of 41 Japanese firms in the FORTUNE Global 500, 29 are based in Tokyo, while 76 per cent of foreign companies have offices in the capital.

He also pointed out that Tokyo’s attractiveness comes from high income, large market, developed infrastructure of transport, energy, information and communication, and a good living environment.

There are barriers to business, however, including high commercial costs.

However, Maris Yamamoto, a representative from Deloitte Tohmatsu Venture Support, said that Tokyo is providing considerable support to investors coming into the city.

For example, there is a green finance subsidy programme for Tokyo market entry which provides up to 50 million yen (US$322,400) in the first year for projects in green transition such as energy, transportation and production, housing and office development, digital technology industry.

Other support programmes include the temporary office allocation for foreign financial companies or financial start-up support programme.

According to Mizuno Gia Cát from NTQ Japan, Vietnamese firms should carefully study the Japanese market, especially in terms of the culture, to make good preparations for entry.

The Ministry of Planning and Investment’s statistics showed that Việt Nam invested in more than 120 projects in Japan, with a total investment of around $20 million. — VNS