Vietnam Remains Attractive to Japanese Investors: JETRO
Up to 58% of Japanese firms investing in Vietnam plan to expand their operation scale in the Southeast Asian country, a recent survey by the Japan External Trade Organization (JETRO) showed.
This is a positive figure compared to many ASEAN countries surveyed by JETRO, the report said, adding that many Japanese firms considered Vietnam a more attractive market than China.
The report also indicated that 64.5% of questioned Japanese companies select Vietnam for its political stability, while 47.8% and 37.7% of the interviewees choose the nation for business prospect and cheap labor costs.
However, JETRO said that up to 67.2% of Japanese investors complain about Vietnamese complicated administrative procedures, 66.4% are concerned about the country’s weak infrastructure and 49.6% mention its unclear policies.
Hirota Nakanishi, a JETRO official, suggest that Vietnam should focus on developing supporting industry and control commodity prices to attract more foreign investors.
As of end-November last year, Japanese companies invested in $17.8 billion in nearly 1,200 projects in Vietnam, ranking the fourth among foreign investors in the country. (www.sgtt.com.vn Mar 2)
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