Japanese firms optimistic in Vietnam, says consular officer

TN News

Email Print

Japanese businesses are optimistic about Vietnam's economy and investment environment, said an officer from the Japanese Consulate General in Ho Chi Minh City.

Economic officer Tadashi Kikuchi said the global economic slowdown had not disrupted Japanese businesses in the country too much.

Kikuchi said Japanese business in southern provinces had not felt the brunt of the crisis because they mainly worked in consumer production, whereas those in the north were mainly in heavy industry or assembly line industries.

The economy was on its way to recovering and so was the trust of Japanese businesses, he added.

He said Japanese firms were enjoying Vietnam's retail market after the government opened it to 100-percent foreign-invested businesses in early 2009.

Vietnam is the second most attractive location in Asia for Japanese businesses and it lures about 900 Japanese businesses. This is second only after Thailand where there are 1,300 businesses from Japan, according to the officer.

Japan is improving its position on the list of Vietnam's foreign direct investment as its investors are ranked second in this year's fourth-month list after Holland. They were licensed to invest US$1.09 billion in 26 projects in the first four months.

The Japanese government has committed to providing $306 million in official development assistance to Vietnam this year for projects in infrastructure and environmental protection.

More Business News