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Japan invests $20.8 bln in Vietnam
Japan’s investment in Vietnam in the 18 years since the two countries established bilateral relations tops US$20.8, third behind only Taiwan and Korea, according to the Foreign Investment Agency of Vietnam.
The country is, however, in top position in terms of actual disbursement and number of operational projects.
Japanese firms have invested in more than 42 provinces and cities.
Hanoi, Ho Chi Minh City, Binh Duong, and Dong Nai have been the most popular destinations, together attracting 910 projects worth more than $7.9 billion.
Hanoi tops with $3 billion.
Japan investors have focused on manufacturing, investing $18 in the industry.
The Japan External Trade Organization has said future investments are likely to be focused on heavy industry and retail.
Cheap labor and low production costs are the most important factors in attracting Japanese investors to the country.
Last Tuesday 100 Japanese firms and nearly an equal number from HCMC held a meeting to discuss business opportunities.
Many of the former are looking for local partners to set up business here, and so the meeting helped them understand more about Vietnamese culture and business practices.
Last year Japanese investment was worth more than $1.5 billion.
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