Vietnamese market is big enough for foreign investors' ambitious business plans
22:00 | 07/09/2020
VGP – Prime Minister Nguyen Xuan Phuc on Monday held a dialogue with representatives of Japanese economic organizations, including JETRO and JICA, and 30 businesses which have planned to expand investment in Viet Nam.

Prime Minister Nguyen Xuan Phuc and representatives of Japanese economic organizations and 30 businesses pose for photo after a working session at the Government Office in Ha Noi on September 7, 2020. Photo: VGP

Present at the session included several Cabinet members and Japanese Ambassador to Viet Nam Yamada Takio.

Addressing the event, PM Phuc appreciated the great contributions of the Japanese Government and Mr. Abe Shinzo to the extensive strategic partnership between Viet Nam and Japan over the past time.

In the face of the adverse impacts of the COVID-19 pandemic, Phuc welcomed and spoke highly of the Japanese Government’s timely decision to support their businesses to diversify supply chains.

Phuc was pleased to learn that 15 out of 30 Japanese businesses that receive support from the Japanese Government to diversify value chains, expect to expand investment in Viet Nam, adding that this is an encouragement for the Southeast Asian country to go ahead with its efforts to improve the business environment.

Viet Nam has approved revised laws on investment and enterprises, and law on public-private partnership while implementing a range of free trade deals, including the Comprehensive and Progressive Trans-Pacific Partnership and Viet Nam-EU Free Trade Agreements, making the country an attractive investment destination, Phuc said.

In addition, Viet Nam, a country of 100 million population with rising per capita income, is a market big enough for ambitious business plans of foreign investors, including those from Japan, the Government chief added.

Phuc welcomed Japanese businesses to promote investment in such priority areas like infrastructure, energy, manufacturing, high-tech agriculture, information technology, smart urban development, finance-banking, and equitization of State-owned enterprises.

Japanese Ambassador Yamada highlighted that the Vietnamese economy has grown robustly over the last 20 years while the Viet Nam-Japan relationship is becoming increasingly deepened.

About 64% of Japanese enterprises plan to continue expansion of their business in Viet Nam due to its favorable investment environment, according to a recent survey of the JETRO./.

By Kim Loan

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