VN hopes to draw high-quality investment from Japan

Monday, Jul 01, 2019 14:50

Prime Minister Nguyen Xuan Phuc at the talks with Japanese businesses in Tokyo on July 1. — VNA/VNS Photo Thong Nhat

Viet Nam welcomes high-quality investment projects from Japan, especially in infrastructure, Prime Minister Nguyen Xuan Phuc said in a round-table talk with some of Japan’s leading corporations in Tokyo on Monday.

PM Phuc said the Government would strive to hold frequent dialogues to tackle difficulties for Japanese investors.

He told participants about several free trade deals Viet Nam has engaged in such as the freshly signed EU-Viet Nam Free Trade Agreement (EVFTA), saying Viet Nam would strive to accelerate the signing of the Regional Comprehensive Economic Partnership (RCEP) in 2019.

Investing in Viet Nam would allow Japanese firms to expand their market not only in the ASEAN region but also in the EU, he said.

Japanese investors, including Toyota, Canon, TEPCON, Yusen Logistics, Sojitz, and JXTG, showed their interest in developing support industries for automobile manufacturing in Viet Nam, expecting to help boost local content in the field.

They spoke highly of Vietnamese Government’s efforts to remove bottlenecks for enterprises, suggesting more attention be paid to the training of design and maintenance engineers for FDI companies.

The Japanese sides said the Vietnamese Government should focus on developing infrastructure, particularly a comprehensive transport system which is well connected to ports in big cities.

PM Phuc said he hopes Japanese companies will continue their official development assistance (ODA) in infrastructure development, one of Viet Nam’s prioritised fields.

According to Minister of Planning and Investment Nguyen Chi Dung, Viet Nam has huge demand for infrastructure construction, a major breakthrough in the country’s development strategy. Viet Nam is mobilising capital for infrastructure development from the State budget, public-private partnerships, and ODA. Therefore, the country wants to have regular dialogues with foreign investors who are interested in the sector.

Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung recommended Japanese firms join in vocational training in Viet Nam so they can recruit suitable employees for their business. – VNS

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