Japan helps HCM City develop high-tech industry
The HCM City Investment and Trade Promotion Centre (ITPC) agreed to partner with Mitsui Vietnam Limited Company to develop high-tech industries and information technology at a ceremony on January 21.
Addressing the function, Vice Chairman of the municipal People’s Committee Le Manh Ha expressed his hope that the partnership will help increase Mitsui as well as Japanese investment in the city.
According to the official, Japan currently ranks third in terms of foreign investment to the city, despite of increasing capital in recent years. HCM City is taking measures to attract more investors, including those from Japan, such as developing industrial zones, exporting and processing zones and creating favourable conditions for foreign investors.
By the end of 2013, the city attracted nearly US$33 billion in foreign direct investment, US$11 billion of which was in the industrial sector.
Japan invested a total of US$3 billion in the city, with US$1.3 billion going to the industrial sector.