Corporate Vietnam looks to invest in Japan
Date: 7/6/2016 9:28:35 AM
Corporate Vietnam is becoming an important global investor as more domestic companies look for business opportunities abroad, said speakers from the Ministry of Planning and Investment (MoPI) at a conference on July 5 in Hanoi.
In a speech, Do Nhat Hoang, general director of MoPI, cited official statistics showing that currently domestic companies have registered investment of roughly US$9 billion in 1,000 overseas ventures.
The target areas are primarily in the agriculture, telecommunication and information technology segments of the economy, said Mr Hoang.
He said Vietnamese companies, large and small, private or state-owned, are embarking on a spree of overseas mergers and acquisitions, spurred by government policies that encourage such expansion.
All the signs indicate that M&A activity will break all records this year, said Mr Hoang.
Most importantly, the General Director said, the MoPI is committed to cooperating with the Japan External Trade Organization (JETRO) to promote collaboration between domestic and Japanese international companies.
Shigeki Maeda, vice president of JETRO, in turn spoke about current investment opportunities for domestic companies noting the information technology segment was particularly ripe.
This is a segment that will allow Vietnamese companies to get their foot in the door of the Japan economy— and from there they can then branch out into other fields, said Mr Maeda.
Mr Maeda explained in some detail efforts of the government with JETROs assistance to establish a consultancy centre to help Vietnamese companies navigate the administrative procedures of setting up shop in Japan.