HCMC – More than 60% of Japanese businesses in Vietnam reported profit in 2024, the highest percentage in five years, according to discussions at a seminar between Japanese businesses and Prime Minister Pham Minh Chinh on March 1.
Ozasa Haruhiko, chief representative of the Japan External Trade Organization (JETRO) in Hanoi, said a recent survey found that 56% of Japanese companies in Vietnam plan to expand operations within the next one to two years, the highest rate in ASEAN.
He emphasized Vietnam’s position as one of the most dynamic developing economies in the region.
At the seminar, Japanese businesses and organizations, including the Japan International Cooperation Agency (JICA), JBIC Bank, and corporations such as Moeco, Marubeni, Tokyo Gas, Shimizu, Sumitomo, Hitachi, Nippon Koei, Toyota, and Aeon, discussed cooperation opportunities and investment proposals across various sectors.
Key proposals included the development of Hanoi’s Metro Line 2, which will connect Nam Thang Long and Tran Hung Dao, and the Ben Luc-Long Thanh section of the North-South Expressway.
Discussions also covered plans to enhance transportation infrastructure in the Mekong Delta region and advance Vietnam’s energy sector.
Japanese investors also proposed developing the Vietnam-Japan University and implementing next-generation official development assistance (ODA) projects in the near future.
Japan remains Vietnam’s largest ODA provider and key labor cooperation partner, as well as the third-largest foreign investor and fourth-largest trade and tourism partner.
To date, Japan has provided Vietnam with over US$20 billion in loans, nearly US$750 million in non-refundable aid, and around US$1.34 billion in technical cooperation support.
Currently, Japan has more than 5,500 FDI projects in Vietnam, with total registered capital of US$78.3 billion.
