Investment promotion conference opens in Japan

PM Nguyen Xuan Phuc addresses at the Viet Nam investment promotion conference, Tokyo, June 5, 2017 - Photo: VGP/Quang Hieu

PM Nguyen Xuan Phuc addresses the Viet Nam investment promotion conference, June 5, 2017, Japan

The event was jointly hosted by the Japan External Trade Organization (JETRO), the Vietnamese Ministry of Planning and Investment, the Bank Of Tokyo Mitsubishi UFJ (BTMU), and the Viet Nam Joint Stock Commercial Bank for Industry and Trade.

New era of Viet Nam-Japan close, reliable relations

Addressing the event, PM Phuc quoted a JETRO’s report on the Vietnamese investment environment in which 90% of Japanese enterprises had plans to expand their business in Viet Nam. The report also showed that Viet Nam’s business risk index was dropping, showing signs of improved investment.

These encouraging data helped the Vietnamese Government continue to perfect the investment policies and environment towards a new era in the economic ties between Viet Nam and Japan, said PM Phuc.

The trade ties dated back over 400 years when Japanese traders founded “Japanese towns” in Hoi An, Quang Nam province, Viet Nam. In the early 17th century, Japan was the most important export market of north Viet Nam.

Over the past time, the bilateral ties have been unceasingly developed. Japan emerged as the comprehensive strategic partner of Viet Nam in all fields especially economics, trade and investment. Japan was the largest ODA provider for Viet Nam, the second foreign investor, the third partner in tourism, and the fourth largest trade partner of Viet Nam. By late 2016, over 3,200 Japanese invested projects were valid in Viet Nam with a total registered capital of US$ 42 billion, making up 15% of total FDI inflows in Viet Nam.

PM Phuc quoted a statement of his Japanese counterpart Shinzo Abe when he visited Viet Nam in early 2017 as saying that “The mighty Red River runs through Ha Noi to the East Sea, the China Sea, Tokyo Bay. Nothing can prevent the freedom of navigation in the stream flow. Viet Nam and Japan are neighboring countries which are connected by the water areas of freedom.”

PM Phuc was convinced that nothing can prevent a new era of attachment, close, and trust in the bilateral ties while delivering a speech at 1,600 delegates, enterprises, including 200 Vietnamese ones.

The speaker took the occasion to brief socio-economic development in Viet Nam.

According to PM Phuc, Viet Nam also boasts  political and socio-economic stability, unceasingly improved transparent legal system, in accordance with international commitments and standards. The country also provides favorable ways for investors and enterprises to do long term business.

Viet Nam has continuously transformed with strong leaps forwards. The economy is open. Viet Nam has already signed 12 FTAs and is negotiating four others. Hence, the country has become an important link of economic networks with 55 countries including those in G20 and G7.

The PM committed to building and nurturing factors which generate competitiveness for the economy (including infrastructure, financial development, educational reform, and improvement of manpower training); stepping up open mechanism reform; facilitating the private sector in economic growth.

“We also pledge to perfect the legal system and policies on investment in a persistent, transparent, and predicted manner in favor of investors,” affirmed PM Phuc.

Sharing investment opportunities

The PM took the occasion to share business and investment opportunities in Viet Nam for Japanese players.

He invited Japanese investors to engage in M&A activities in combination with the equitization of SOEs in such areas as transport, infrastructure, food, foodstuff, agriculture, telecom, trade, service, tourism, and construction. These great opportunities would help Japanese investors become strategic partners of Vietnamese enterprises.

Viet Nam is also accomplishing the legal system and facilitating PPP model in infrastructure development; and stands ready to welcome foreign and domestic investors to join the project with flexible capital contribution and open mechanism.  

In addition, the country is promoting business start-up and connecting with global business start-up ecosystem.

Viet Nam also hails Japanese enterprises to do long-term businesses here; support technology  transfer; boost value of brand names; develop financial capability and administration competence; join in production chains and provision of raw materials; and develop consumption markets.

Viet Nam, said the PM, enables Japanese investors to join via hedge funds in such areas as infrastructure development, logistics, aviation service, healthcare, education, science and technology, environment, high-tech and auxiliary industry; share information and experience; and connect Vietnamese enterprises with the global market./.

By Kim Anh