The HCMC export processing and industrial zones authority (Hepza) in a recent year-end review meeting proposed the establishment of an industrial park for supporting industries to lure Japanese investors. The management authority wants to join hands with Japanese partners with strong financial capacity and experiences to carry out the plan.

Meanwhile, authorities of the southern province of Ba Ria -Vung Tau has already been in the process of setting up an industrial zone for the purpose in the locality. After receiving many Japanese economic organizations to the locality last year, Ba Ria -Vung Tau aims at developing an industrial park for supporting industries in line with the Government’s policies, targeting Japanese investors first.

The two nations have reached an agreement to develop bilateral strategic partnership, under which Vietnam asks for Japan’s support in establishing two industrial zones for the supporting industries, one in Ba Ria-Vung Tau Province and the other in Hai Phong City. Hence, Ba Ria-Vung Tau authorities have sent a mission to Japan to study Japanese supporting businesses and at the same time introduce its potentials and strengths to these investors.

Based on the strategic cooperation between the two governments, the northern province of Hai Phong will also develop an industrial zone for Japanese supporting companies only.

The new wave of investment from Japan into Vietnam has been, strongly expected by local authorities witnessing a series of visits and working trips to the nation by Japanese investors over the past year. In fact, several Japanese firms operating in Vietnam have grasped this great opportunity to invest in infrastructure development at industrial zones at home.

For instance, three Japanese enterprises Sojitz, Daiwa House and Kobelco Eco-Solutions will cooperate with Donafoods to build Long Due Industrial Park in Dong Nai Province. In addition, Jesco Group active in infrastructure in Japan plans to contribute capital to the construction of Long Hau 4 Industrial Park in Long An Province.