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Japan invests in local processing industry
More than 86 per cent of Japanese foreign direct investment (FDI) in Viet Nam is focused on processing and manufacturing, affirmed Foreign Investment Agency head Do Nhat Hoang, addressing a two-day conference in Tokyo on Monday.
He stressed that FDI matched the Vietnamese Government’s development trend.
To date, Japanese companies have invested in 1,623 FDI projects throughout the country. Of the total number, around 1,000 projects are focused on the processing and manufacturing industries, with a total registered capital of US$22.4 billion.
“The total amount of capital poured into the processing and manufacturing industries accounts for 86 per cent of Japan’s contribution,” Hoang added.
During the conference, based on local investment, he stressed that Viet Nam, with a clean investment environment, had become increasingly attractive to foreign investors, especially those from Japan.
In agreement, Japanese Foreign Investment Promotion Agency consultant Yoshifumi Tsujio said that Viet Nam had many advantages such as socio-economic stability, well-trained and young human resources as well as good policies in attracting investments.
To attract further investment, he suggested the country develop its support industry while reducing complicated administrative procedures.
Vietnamese Investment Consul to Japan Le Huu Quang Huy said that the country would continue its endeavour of attracting large, medium and small companies, especially from Japan, to high technology and environmentally friendly projects.
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