The meeting was held by the People’s committee of Vinh Phuc province, the Vietnam Chamber of Commerce and Industry and the Japanese Embassy in Vietnam. The event attracted representatives of the Japan International Cooperation Agency (JICA), the Japan External Trade Organisation (JETRO), the Japan Business Association in Vietnam and many Japanese enterprises operating in Vinh Phuc.
Chairman of the provincial People’s Committee Nguyen Van Tri promised continued efforts to improve local investment climate, develop infrastructure and skilled human resources, and timely deal with Japanese firms’ requests and administrative procedures. He appreciated the quality and effectiveness of investments from Japan which have substantially contributed to local socio-economic development.
Mr. Nguyen Van Tri also called for Japanese investment in projects using modern technologies such as mechanical engineering (including automobile and motorcycle manufacturing and assembly), electronics and their support industries, telecommunications, and hi-tech agriculture. The Japanses’s investors are also welcomed in tourism – entertainment, health care and education.
At the meeting, Japanese firms asked for more appropriate policies for importing used machinery with high quality and boosting auto manufacturing’s support industry. Vinh Phuc should also keep investment incentives transparent and stable, while improving infrastructure at industrial parks.
By the end of June 2016, 222 FDI projects form 16 countries and territories over the world has registed to invest in Vinh Phuc province with a total registered capital of 3.43 billion USD. Though Japan only ranks third in terms of the project number (26) and registered capital value (over 786 million USD), its companies have continually showed the best business performance and contributed most to local budget.
