Japanese firms wish to scale up business in Viet Nam

Last year, Japanese investors poured some US$2.89 billion into 655 projects in Viet Nam, up 1.9 per cent in the number of projects as compared to 2018.

Rice cookers are produced at the Japan-invested Tiger Vietnam Co in the southern province of Dong Nai. — VNA/VNS Photo Danh Lam

Tidy profits have motivated about 64 per cent of Japanese firms in Viet Nam to consider expanding their business in the Southeast Asian country, according to the Japan External Trade Organisation (JETRO).

Last year, Japanese investors poured some US$2.89 billion into 655 projects in Viet Nam, up 1.9 per cent in the number of projects as compared to 2018.

Sixty-six per cent of Japanese investors reported good profits from their Vietnamese operations in 2019, JETRO said.

Nakajima Takeo, Chief Representative of JETRO’s Hanoi Office, said along with the US-China trade war that has driven money into Viet Nam, the sound investment and business climate has encouraged Japanese firms to increase their presence in the country.

Viet Nam has become a destination of Japanese businesses’ interest as the Government and local administrations have worked to remove bottlenecks for them in a timely manner, he added. — VNS

 

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