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Vietnam - an attractive destination for Japanese investors
Vietnam continues to become an attractive destination for Japanese investors, said delegates at the Vietnam-Japan economic seminar in Tokyo on August 3.
On addressing the seminar, Saori Sugeno, a senior economic expert from the Daiwa Institute of Research said that Vietnam remains the next best destination for Asian investors after China.
Mr. Sugenco said that many investors have chosen Vietnam as there is less risk to their investment. Moreover, a series of major infrastructure projects have been implemented in Vietnam, which offers a good opportunity for foreign investors. However, to attract further foreign investment, the Vietnamese government should create a legal corridor for the Public-Private Partnership (PPP) model to attract capital from the private sector into infrastructure projects. In addition, the government should also improve investment environment, develop the capital market rapidly to attract indirect capital from overseas and set up investment funds.
Meanwhile, Yuichi Bamba, Deputy Director of the Asian and Ocean Division of the Japan External Trade Organisation (JETRO) confirmed that Vietnam’s investment environment remains attractive to Japanese investors. According to the latest research from JETRO, the labour costs in Vietnam are still the lowest amongst ASEAN countries. Japanese businesses operating in Vietnam said that their business activities have been improved this year, showing their belief in the country’s economic prospects in the wake of the global financial crisis. The number of Japanese businesses which plan to expand their business operations in Vietnam in the next two years will be higher than any ASEAN countries.
Mr Bamba underlined that Vietnam has many advantages in terms of political and social stability, a huge market with high growth potential, an abundant labour force and low labour costs.
The seminar was jointly organized by the International Friendship Exchange Council of Japan (FEC) and the Vietnamese embassy in Japan.
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