Vietnam’s improved investment climate attracts Japanese firms
Updated : Tuesday, February 13, 2018 8:48 AM (GMT+0700)

Vietnambecomes an attractive destination for Japanese investors as the country’sinvestment climate has been improved in recent years, said an economist fromWaseda University, Japan. 

 
A beverage factory invested by a Japanese in Binh Duong province - Source: VNA

Prof. Tran Van Tho, who isalso member of the Economic Advisory Group for Prime Minister Nguyen Xuan Phuc,said similarities in culture between the two countries also help promote theireconomic cooperation. 

The Vietnam-Japan JointInitiate, which is on the sixth phase, is focusing on how to increase labourproductivity, he said, adding that the initiative shows Japan’s perseverance inhelping Vietnam improve its business climate. 

Japan became the largestforeign investor in Vietnam in 2017 with over 2,500 Japanese companiesoperating in the Southeast Asian country. 

Japan’s increasinginvestment in Vietnam is a good signal for Vietnam’s economy in the contextthat investments from developed countries in Vietnam remain low, Thonoted. 

In the coming time, Japan’sinvestment in Vietnam is forecast to be maintained in the field ofmanufacturing, he added, adding that Vietnam should encourage Japanese firms topour money into food and support industries. 

According to the expert, thecountry also needs to make adjustments to policies related to foreigninvestment attraction and bidding.

Priority should be given toluring reliable investment sources and environmentally friendly projects usingmodern technologies, Tho stressed. 

Regarding investment form,Tho said Vietnam should encourage the formation of joint-ventures betweenforeign and domestic firms, thus improving domestic enterprises’ capacity andhelping them join production chains. 

Apart from Japan, China hasbeen also one of Asian countries increasing its investment in Vietnam. Thecountry became the fourth largest foreign investor in Vietnam in 2017. 

China’s strong developmentand increasing investment abroad will also impact greatly on Vietnam’s economyin 2018, Tho said.

Source:VNA 

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