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Finding ways of attracting Japanese investors
The Japanese Business Association (JBA) has met with the Vietnam Chamber of Commerce and Industry (VCCI) to discuss measures to attract more Japanese investors to Vietnam.
Nobuhiko Murakami, head of the JBA Department for Supporting Industry and a general director of Toyota Motor Vietnam (TMV) said that not only Sony Group but many other foreign directed investment companies will stop operating in Vietnam if the domestic support industry does not make any progress.
Mr Murakami said that currently Vietnamese producers cannot supply most of the components that Toyota Vietnam needs while Thai and Indonesian producers can meet 80-90 percent of Toyota’s demands. By 2018 when Vietnam completely opens up its doors to the market if this rate has not risen to 60-70 percent it will be difficult for Toyota to stay long in Vietnam.
The JBA said that since early this year, due to the difficulties arising in Vietnam’s economy Japanese businesses have also fared no better.
Koichi Takano, deputy chief representative of the Japanese External Trade Promotion Organization (JETRO), said that many Japanese businesses are still keen to invest in Vietnam, however, the number of projects seem to have fallen.
At the meeting, VCCI chairman Vu Tien Loc said that it will support Vietnamese businesses to build development strategies for the support industry in line with strategic partnerships between Vietnamese and Japanese businesses.
VOV
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