Japanese Firms to Increase Investment in Danang

 

The forum, jointly held by the municipal People’s Committee and the Japan External Trade Organization (JETRO), was among important events within “Japanese Festival 2009" and the 7^th Japanese cultural exchange days in Vietnam (14-16/8/2009) taking place in Danang and Hoi An.

 

Over the past years, the two-sided trade and investment ties have developed well. In the first seven months of this year, Japan invested in 35 projects worth US$94 million in Vietnam. To date, Japan invested in 1,113 projects totaling more than US$17 billion in the Southeast Asian country, accounting for 10.7 % of Vietnam’s total registered FDI. Japanese companies have invested in 34 projects valued at US$178 million in Danang, making up nearly 7 % of the city’s total FDI capital. Most of Japanese firms have made a remarkable contribution to the city’s development.

 

On this occasion, a seminar on technology supply and demand was also organised in Danang. This was among activities within the framework of the technology transfer programme between the Technology Application and Development Department under the Ministry of Science and Technology and GLIN Company under the initiative of Senator Iwao Matsuda, Vice Chairman of the Vietnam-Japan Friendship Association.

 

The event attracted leaders from several ministries and agencies and nearly 30 departments and associations, 142 domestic businesses and 70 Japanese firms.

 

According to the organisers, Japan has selected 150 Japanese biggest producers in Vietnam to survey supply and demand for Vietnam’s supporting products and also worked with some Vietnamese outstanding firms in Hanoi, HCM City and Danang.

 

The Technology Application and Development Department and Japanese experts have selected 17 Vietnamese companies and 11 Japanese partners are willing to cooperate with Vietnamese businesses. Several technology transfer agreements between Vietnam and Japan were also reached at the event, including one technology application and development in Danang between the Technology Application and Development Department and the Danang Science and Technology Department. The agreement aims to define Danang city’s enterprises’ technology demand to seek supply sources from Japan and to build a regular cooperation programme with different partners. Under the agreement, Danang Vocational Training College and Japan’s KATAYANAGI Institute will coordinate human resource supply. The agreement will also train sci-tech human resource and develop technology transfer services to match Danang’s development.