Japanese investors getting fond of Vietnam
(VOV) - Vietnam has become one of the more favoured investment destinations for Japanese small and medium sized business enterprises (SMEs) as they seek to diversify their investments throughout ASEAN member nations.
The latest official statistics show they have poured US$36 billion into 2,400 projects across the country.
A recent survey of Japanese business enterprises reflects that over 70% of them consider Vietnam as one of the top investment destinations in ASEAN and those that have invested are satisfied with the results.
The governments of Japan and Vietnam are now implementing stronger measures to boost the comprehensive partnership between the two nations and create yet more conducive conditions for their business communities to prosper.
To attract Japanese foreign investment there are several important factors for Vietnamese enterprises to consider. The first is that Japanese firms are quality oriented and they are only looking for a high caliber product.
The second is that negotiations take time and Japanese investors are meticulous and detailed in their deliberations. They don’t leave a lot to chance and work through all of the details upfront when they are hammering out the deal.
Tran Thi Minh Trang, general director of the Vietnam-Japan Consultancy Co Ltd and director of the Japan Circle project, recently said Vietnamese enterprises often complain they spend too much time, even years, working out a deal only to have it fall through.
Trang added, that some of this delay can be avoided if Vietnamese enterprises better prepare and recognize the importance of understanding Japanese culture and behaviors and, most importantly, have a member of their staff that can speak fluent Japanese.
She also underscored the point that out of the ASEAN member nations, Japan highly appreciates the investment potential in Vietnam, so domestic businesses should be cognizant of this fact and use it to their advantage.
Cooperation projects can be mutually beneficial and result in a win-win situation for both sides, if enterprises adequately prepare and are patient in the negotiating process, she concluded.