Vietnamese and Japanese firms forge connectivity
More than 30 businesses from Vietnam and Japan were brought together at an event in the northern port city of Hai Phong on July 19 to seek stronger investment links.
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The event aimed to help enterprises increase production and management capacity while joining the global value chain.
Vice Chairman of the municipal People’s Committee Nguyen Van Thanh described Hai Phong as one of the most dynamic regions in Vietnam.
As a traffic hub of aviation, railways, expressways and inland waterways, Hai Phong has big advantages in connecting with other cities and provinces nationwide as well as international integration, he said.
The northern port city has consistently been listed among the top destinations for foreign direct investment in Vietnam, with 553 projects worth over US$15.7 billion so far, focusing on industry, infrastructure and real estate, trade and services, he cited.
Among 38 countries and territories investing in Hai Phong, Japan has the most projects with 137, and ranks second in terms of investment capital (US$4.6 billion) after the Republic of Korea.
Japanese firms mainly invest in industrial production, with 101 projects worth US$3.63 billion, making up 73.7% of Japan’s total projects and 79.08% of its total investment.
The Japanese government has helped the Vietnamese city develop physical infrastructure such as bridges, roads, Hai Phong port and rainwater drainage systems as well as improve sewage treatment and solid waste management by providing official development assistance.
More than 500 Japanese experts now live and work in Hai Phong.
