Japanese Enterprises to Seek Vietnamese Partners

Vietnamese and Japanese businesses will gather at a workshop to seek partners in Hanoi on Jan. 31, part of the two countries' 2007 business cooperation program, said the Vietnam Chamber of Commerce and Industry (VCCI).

 

Japanese businesses want to find Vietnamese partners for cooperation in the areas of producing industrial measurement equipment, medical facilities, contact-lenses, means of transport, filters for ships, rice huskers, toys and telecom equipment and others, the organizer of the event VCCI said.

 

Japan is the top foreign investor in Vietnam in January this year with a huge project in the Ho Xuong Rong urban center in northern Thai Nguyen province worth a combined capital of $100 million, accounting for 32.8 per cent of the country’s total registered capital.

 

Last year, Japan stood fourth among 76 countries investing in Viet Nam in terms of licensed projects, however, it led in terms of disbursed capital according to the Ministry of Planning and Investment.

 

Two-way trade between Vietnam and Japan reached $7.2 billion, up 23.5 per cent on year and is expected to reach $10 billion this year, up 19.7 per cent over last year. Japanese exports to Vietnam last year totaled $3.3 billion, while imports touched $4.2 billion, according to the Foreign Ministry.

 

Japan is Vietnam’s second largest importer after the United States, according to Japan Foreign Ministry data, and the fourth-largest exporter to Vietnam after China, Singapore and Taiwan. (VNA)