A seminar was held in Tokyo on Tuesday to attract investment to the northern province of Vinh Phuc, which witnessed the participation of more than 120 large firms.

Speaking at the event, secretary of the provincial Party Committee Hoang Thi Thuy Lan said with annual average growth of over 15 per cent and top ranking in the country’s provincial competitiveness, Vinh Phuc has become a destination for major investors from several countries.

As of late February 2016, the province attracted as many as 234 foreign-invested projects worth US$3.6 billion from 15 countries. Japan ranked third in the number of projects and total investment in Viet Nam but was placed first in terms of capital disbursement.

Vinh Phuc calls on Japanese investors to get involved in industry, urban development, services, agriculture and infrastructure, she said.

Vietnamese Ambassador to Japan Nguyen Quoc Cuong highlighted stability, young population and investment incentives as a magnet for foreign investment into Viet Nam.

He also mentioned Vinh Phuc as a major economic zone in the north and a gateway to the capital city of Ha Noi.

According to director of the Asia-Pacific Division under the Japanese Ministry of Economy, Trade and Industry Yasushi Iwata, Viet Nam in general and Vinh Phuc in particular are promising destinations for Japanese investors.

He expressed thanks to Vinh Phuc authorities for offering business incentives to Japanese enterprises, thus boosting bilateral ties over the past years.

In an interview granted to Vietnam News Agency, deputy director of the provincial Department of Planning and Investment Nguyen Duc Tai said the event provides a platform for investors and provincial authorities to discuss and answer questions, laying the groundwork for their investment decisions. — VNS