Japanese businesses have become an important part of Hai Phong’s economy, said municipal Party Committee Secretary Le Van Thanh at a conference in the northern port city on Saturday.

The conference was held to promote Japanese investment and tourism.

At the conference, Vietnamese and Japanese firms discussed cooperation opportunities and their potential in the sectors of tourism, auto support industry, logistics and human resources training. The Hai Phong Investment, Trade and Tourism Promotion Centre signed seven memoranda of understanding on cooperation with Japanese companies.

Speaking at the event, Japanese Ambassador to Viet Nam Umeda Kunio highlighted the growth of ties between Japan and Hai Phong as reflected in several Viet Nam-Japan trade pacts on major projects in the city, adding that the local Tan Vu bridge and port were built using Japanese technologies.

Vu Tien Loc, Chairman of the Viet Nam Chamber of Commerce and Industry, said Hai Phong had convenient infrastructure and was active in institutional reforms, which were plus points in attracting investors.

He expected 60 participating investors to promote Hai Phong’s favourable business climate among their Japanese peers.

He also said attracting Japanese investment was a goal set by the Vietnamese Government, Hai Phong authorities in particular.

As of February 2018, Japan had 134 FDI (foreign direct investment) projects in Hai Phong, capitalised at US$4.31 billion, ranking first in volume and second in value.

Hai Phong’s tourism-culture cooperation with Japanese localities also recorded positive outcomes, with frequent delegation and cultural exchanges, trade promotion events and joint educational programmes. – VNS