JCCI members are meeting with Vinh Phuc province officials. - Photo vinhphuc.gov.vn

Yoichi Kobayashi, chairman of the JCCI’s Japan-Mekong Economic Cooperation Committee who headed the delegation, said the businesses participating in the trip were mainly active in the support industry.

Hailing Vinh Phuc’s convenient geographical location and infrastructure, the official said he hoped there would be more Japanese investors operating in the locality after the visit.

Kobayashi said the JCCI had 514 branches across Japan with 1.3 million members, of which 99.7 per cent were small- and medium-sized enterprises (SMEs), making up one-third of the country’s total SMEs.

Established in 2013 with nearly 200 businesses, the Japan-Mekong Economic Co-operation Committee aimed to promote economic, investment and trade co-operation between Japan and nations in the Mekong sub-region, he said.

Nguyen Van Tri, chairman of the Vinh Phuc People’s Committee, said the province was preparing to become an auto and motorcycle manufacturing centre.

The province always welcomed investments in this field, particularly those from Japan, he said.

About 26 Japanese businesses are investing a total registered capital of US$800 million in Vinh Phuc.

On October 22, Vinh Phuc granted an investment licence to Japan’s Sumitomo Group to build Thang Long III Industrial Park in Thien Ke and Tam Hop communes in Binh Xuyen District.

Covering more than 213ha, the VND 1.5 trillion ($67.11 million) project is expected to help lure 79 smaller projects and create 40,000 jobs for the local people.