Japan Tops FDI Disbursement in Vietnam
Japanese investors now ranked the first in Foreign Direct Investment (FDI) disbursement despite being the third largest foreign investor in Vietnam, said an official from the Ministry of Planning and Investment (MPI).
Japan has pledged to invest US$17.2 billion in 1,100 projects but disbursed over US$5 billion, said Phan Huu Thang, head of the Ministry’s Foreign Investment Agency, at a meeting with 20 Japanese business executives in Ho Chi Minh City on June 2.
Thang added that more Japanese investors are interested in Vietnam’s industrial manufacturing, automobiles, electronics and hi-tech sectors.
Nguyen The Hung, acting director of the Southern Foreign Investment Center, said many Japanese companies, such as Toyota, Fujitsu, Yamaha, Canon, Sojitz, Sanyo and several others, are doing well in Vietnam.
On June 3, a conference between Vietnam and Japan was held in Hanoi to discuss measures to eliminate obstacles in the infrastructure and tax policies to attract more investors from the Japanese prefecture of Aichi into Vietnamese industrial zones.
Currently, Japan is the second largest export market of Vietnam. Japan imports over US$12 billion of goods from Vietnam last year. (STD)
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