Vietnam Rapid Economic Recovery Attract More Japanese Firms: JETRO
Vietnam’s economy on the fast recovery is attracting more Japanese firms, according to an official from the Japan External Trade Organization (JETRO).
Managing Director of the JETRO Office in Hanoi Yoshida Sakae said, since mid-2009, his office has received an increasing number of Japanese companies’ applications for consultancy for new projects in Vietnam.
Japanese businesses have always considered Vietnam “a firm manufacturing base and consumption market in the long run,” he added.
The official noted that, powered by Vietnam’s economic recovery, Japanese companies operating in the country have recovered over 80% of their production output and many of them are recruiting more laborers.
Sakae said the implementation of the Vietnam-Japan Joint Initiative would also help increase the number of Japanese projects in the Southeast Asian nation.
He, however, suggested that Vietnam should continue improving the quality of human resources and simplifying administrative reforms to lure more foreign investors.
As of mid-December last year, Japanese companies invested in 1,160 projects worth US$17.81 billion in Vietnam, ranking the fourth among biggest foreign investors in the country. (vietnamplus)
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