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HN to adopt policies to attract Japanese investment

VGP – Ha Noi will develop more result-orientated policies to improve the investment environment and attract further foreign investment, particularly from Japan.

March 28, 2014 4:39 PM GMT+7

Chairman Nguyen The Thao addresses the conference
Chairman of the Ha Noi Municipal People’s Committee Nguyen The Thao made the statement at a conference held in Ha Noi on March 27.

Under the theme ‘Promoting investment and dialogue with Japanese businesses’, the conference attracted over 120 delegates from Japanese organizations, associations and enterprises which are based in the capital.

It is aimed to address the businesses’ difficulties and obstacles in their business in Viet Nam, introduce investment opportunities and learn the suggestions and ideas in order to improve management capacity of the city’s authorities at all levels.

Chairman Thao said that the city has implemented a scheme on attracting Japanese investment in the 2013-2015 period.

Accordingly, Hanoi focuses on attracting large-scale projects, which bring high added value, use modern technology and be friendly to the environment, particularly those in IT, electronics, telecommunications, bio-technology for agricultural development, infrastructure development and high-quality human resource training.

He promised that the city would review its investment policies and the cooperation among administrative agencies and improve administrative reforms to provide an open and transparent investment environment in line with international integration process, create favorable conditions for investors to do their business and enhance the belief and cooperation among investors, businesses and state agencies.

Japanese enterprises have potential in industry, which Ha Noi is targeting to develop, said Do Viet Hoang, Vice Director of the Foreign Investment Agency of the Ministry of Planning and Investment (MPI).

He said that the MPI is studying and amending several regulations on support and hi-tech industry and working closely with Ha Noi’s agencies to develop policies which help lift businesses’ difficulties and create an open investment environment for foreign investors.

CEO of the Forval Corporation Okubo Hideo praised Ha Noi’s Japan desk at the Ha Noi Department of Planning and Investment, which manifests the city’s efforts to facilitate Japanese investors.

At the gathering, representatives from central and municipal agencies answered questions related to pros and cons in doing business in Ha Noi. Outstanding Japanese enterprises, which have made contributions to the city’s socio-economic development in 2013, were honored.

There are 520 investment projects of Japanese investors running in Ha Noi with a total capital of $4.6 billion, accounting for 22% of the city’s total foreign direct investment. Japanese enterprises have accounted for 74% of the turnover of the foreign investment sector and generated jobs for 130,000 workers.

                                                                                                                        By Ngoc Van