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Vietnam should speed up public investment disbursement to lure Japanese investments: official
The Saigon Times
Friday,  Jul 10, 2020,19:13 (GMT+7)

Vietnam should speed up public investment disbursement to lure Japanese investments: official

The Saigon Times

More than 1,000 Japanese businesses participated in the teleconference, which sought ways to attract Japanese investments into Vietnam, held on July 9, 2020 – PHOTO: MPI

HCMC – Vietnam should seek to fast-track disbursement for public investment projects and improve transparency in policy execution to attract Japanese investments, a Japanese official said at a teleconference on July 9 held by the Vietnamese Ministry of Planning and Investment, the Japanese Embassy in Vietnam, the Japan External Trade Organization and the Japan Bank for International Cooperation to boost Japanese investments in Vietnam.

More than 1,000 Japanese businesses in Japan and around the world took part in the event, reported the Vietnam News Agency.

Envoy Okabe Daisuke from the Japanese Embassy in Vietnam stated that Japanese investors have shown keen interest in Vietnam.

A survey on Japanese enterprises in Asia and Oceania conducted by JETRO in February 2020 revealed that 63.9% of Japanese businesses doing business in Vietnam said they would further step up activities in the Southeast Asian nation.

This rate was highest among the Association of South-East Asian Nations and third in Asia and Oceania, behind Bangladesh and India.

Daisuke urged Vietnam to speed up capital disbursement for public investment projects. He said Japan is ready to support the country in the execution of projects that would bolster economic growth.

The country also needs to ensure transparency, fairness and effectiveness in implementing policies and further foster international integration in order to lure investments, according to the envoy.

Aguin Toru, Chief Representative of JBIC’s Hanoi Office, said the bank considers Vietnam a key area and an important partner of Japan in many fields, such as infrastructure, manufacturing and natural resources.

The bank has offered support to 82 projects implemented by Japan’s small- and medium-sized enterprises in Vietnam, according to Aguin Toru.

Meanwhile, Deputy Minister of Planning and Investment Vu Dai Thang told the participants that Vietnam has successfully controlled the novel coronavirus pandemic, adding that the country has also adopted many policies, including the revised Law on Investment, the revised Law on Enterprises and the Public-Private Partnership Law.

He stressed that the Vietnamese National Assembly has approved the European Union-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement.

Do Nhat Hoang, director of the MPI’s Foreign Investment Agency, noted that Vietnam has political stability, high economic growth, abundant human resources, a potential market and an increasing per capita income.

Vietnam has also expanded international integration and cooperation with other economies worldwide, stated Hoang.

Vietnam occupies a strategic position as it takes some three to five hours to fly from the Southeast Asian country to Asia’s investment hubs, such as Thailand, China, Japan and India, according to the official.

He stated that Vietnam has also come up with preferential policies to attract foreign investment, with priority given to new technology, environmentally friendly and high-value projects.

“We have representatives in Japan’s cities and provinces to support Japanese businesses,” he said, adding that partners could get in touch with the Foreign Investment Agency and investment support centers in the Northeast Asian nation.

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