Vietnam Becomes 2nd Most Attractive Destination for Japan SMEs
Vietnam has become the second most attractive destination in Asia for Japanese small and medium enterprises (SMEs) next three years behind China, the Voice of Vietnam Radio reported, citing a survey by Japanese financial institution.
The survey covering 700 Japanese SMEs by Shoko Chukin Bank showed that 30% of total enterprises will select China to invest in the years to come and 21% of the figure also will boost investments in Vietnam soon.
Meanwhile, just 11% of the interviewees voted India and nine percent for Thailand, the survey indicated.
Shoko Chukin Bank also said that Japanese companies now choose Vietnam for its potentials for market development, instead of abundant labor force and low production costs in the past.
Japan External Trade Organization (JETRO) said Vietnam is among the most appealing places for the Japanese investors at least for the next two years, despite high office rentals.
As of April 20, the Japanese companies invested $19.34 billion into 1,211 projects in Vietnam, ranking the third among foreign investors in the Southeast Asian country. (VoV)
Vietnamese
