HOMEPAGE
Hot Properties
ADB: Vietnam’s 2009 GDP growth to be highest in South East Asia
MGM Grand Ho Tram: Vietnam’s First ‘Las Vegas Style’ Integrated Resort
Nha Trang’s Twin Towers project licenced
Foreign investors still have good opportunities in Vietnam
Sierra Wireless gets a foot in Vietnam’s ICT market
INDOCHINA INTERNATIONAL CONSULTING CO., LTD
HO Add: 62L/36 Nguyên Hồng, Ward 11, Bình Thạnh District, HCMC - Vietnam
Biz Office Add: #48 Road No 11, Quarter 6, Hiệp Binh Chánh Ward, Thủ Đức, HCMC - Vietnam
®Source: http://viipip.com should be clearly quoted for any use of information extracted from our website.
Publication permit No: 60/GP-TTĐT , April 05, 2010.
Vietnam courts Japanese high-tech investment
Date: 1/18/2017 9:19:53 PM
Vietnam is courting high-tech Japanese investment and wants Tokyo to become its top investor, its premier said Tuesday during a visit by Prime Minister Shinzo Abe.
Japan is the second largest foreign investor in Vietnam, a manufacturing hub in southeast Asia seeking to expand exports from apparel and agriculture to high-value good like electronics and automobiles.
“Vietnam wants Japan to become the top investor in Vietnam,” Prime Minister
Nguyen Xuan Phuc said Tuesday at a business forum co-hosted by Abe and attended by company tycoons from both sides.
Vietnam has become a fierce competitor to regional neighbours like Thailand, Malaysia, China and Taiwan in tech manufacturing.
Electronic giants like Panasonic, Samsung, Foxconn and Intel have all made significant investments, taking advantage of Vietnam’s comparatively cheap but increasingly well-educated and youthful workforce.
Ties between Tokyo and Hanoi have warmed in recent years, and the world’s number three economy has invested heavily in Vietnam as growth back home has been dragged down by a greying and shrinking
population.
The Asian allies have also cosied up in the face of separate disputes with regional powerhouse China over disputed territory in regional contested waters.
Japanese firms are currently involved in more than 3,000 projects worth roughly $42 billion in Vietnam, mostly in the manufacturing sector. It is the leading investor in Vietnam after South Korea.
Tokyo is also looking for new markets to sell major construction projects to.
Abe called on Vietnam to “continue supporting Japanese enterprises (and) listening to experiences from Japanese companies in high-tech areas”.
He said earlier that investments would focus on “projects to upgrade high quality infrastructure”.
The leaders did not outline specific areas of investment, but officials said earlier that Japan was interested in high-speed railway projects and airport infrastructure.
Earlier during Abe’s two-day trip, officials said Japan’s Mitsubishi is investing in a thermal power plant in Vietnam’s central Ha Tinh province.
Members of Vietnam’s business community welcomed the push toward high-tech at the meeting, which was attended by several Japanese companies, including Mitsubishi, Canon and Fukuyama Transporting.
“(It) will surely contribute to improving the quality of life in Vietnam,” Nguyen Hoang, CEO of Vietnam’s N&G Investment.
Vietnam has become a hot spot for private investment in recent years, especially in manufacturing and
consumer sectors.
Foreign investment shot up nine percent last year compared to the year before, hitting a record $15.8 billion.
Though growth has remained relatively strong in recent years, its GDP rose 6.2 percent last year, down from 2015 and falling shy of its growth target of between 6.7 and 7.00 percent.
Abe’s visited Philippines, Australia and Indonesia on his six-day tour of Asia-Pacific before his final stop in Vietnam.
He said Monday that Japan would provide six new patrol vessels to Vietnam as he called for maritime security in Asia.
(Source:Tuổi Trẻ News)
Other news- Vietnam will become a destination for Chinese investors in the future (11/6/2023 1:03:19 PM)
- Thua Thien - Hue: Calling for investment (11/6/2023 1:00:42 PM)
- Hai Phong Planning to establish a series of industrial parks and economic zones (11/6/2023 12:58:13 PM)
- The Fastest Growing Economies In 2024 (11/6/2023 12:56:34 PM)
- Hai Phong reached the target of attracting FDI capital (10/17/2023 5:18:21 PM)
- Long An has 1,215 FDI projects with capital of 10,519 million USD (10/17/2023 8:40:41 AM)
- What do FDI enterprises recommend to the Vietnamese Government? (10/17/2023 8:38:33 AM)
- Vietnams 3 commitments to foreign businesses and investors (10/17/2023 8:35:45 AM)
- Up to now (2023), how much money have Asian tigers invested in Vietnam? (10/17/2023 8:31:59 AM)
- Another semiconductor manufacturer expands in Vietnam (10/17/2023 8:30:44 AM)
- Billions of dollars poured into Vietnamese semiconductor projects (10/17/2023 8:26:09 AM)
- Revealing the reason why Central region continuously invested by giants Foxconn, Goertek... (10/17/2023 8:24:49 AM)
- VIFTA: Vietnam-Israel Boulevard opened (8/28/2023 9:29:44 AM)
- Wistron announced to pour another 24.5 million USD into Vietnam to build a new factory. (8/28/2023 9:28:33 AM)
- Formulate policies to develop the logistics industry (8/28/2023 8:50:54 AM)
NEWS CATALOGUE
- Vietnam will become a destination for Chinese investors in the future
- What do FDI enterprises recommend to the Vietnamese Government?
- Up to now (2023), how much money have Asian tigers invested in Vietnam?
- Another semiconductor manufacturer expands in Vietnam
- Billions of dollars poured into Vietnamese semiconductor projects
