Japan businesses heavily invest in Da Nang

Vietnam and Japan enterprises are currently co-operating on more than 90 projects and have registered foreign investment that exceeds US$370 million, which is equivalent to 30% of the locality’s total foreign investment.

Da Nang leaders visit Japan-invested Tokai auto parts manufacturing factory in Hoa Cam industrial park
Da Nang leaders visit Japan-invested Tokai auto parts manufacturing factory in Hoa Cam industrial park

In the first nine months of this year, the city approved five Japanese investment projects with an estimated value of US$31.4 million.

Japanese firms in the city generate roughly 30,000 jobs and are on the whole operating effectively and contribute greatly to the local budget and the city’s annual average growth rate of 11%.

Currently, Japan enterprises, specialising in the fields of paper, seafood and agricultural product processing, the restaurant business, electronic components and software outsourcing, are moving their investments towards high technology and quality services.

The Japan firms are also encouraging other foreign firms to do business in the city.

Specifically, in addition to its US$40 million investment in the Da Nang High-Tech Park, the Tokyo Keiki Incorporation urged Niwachuzo Company to commit to a US$22 million project in the industrial park.

The aforesaid trend could signal the beginning of a strong wave of investment from Japan firms in the city, which would also help the locality attract investment from other foreign enterprises.

To accelerate foreign investment, the city now has four Japanese training centres and hundreds of university undergraduates studying the Japanese language, along with nine restaurants serving Japanese dishes.

In fact, Japan investment is concretised by the efforts and commitments of Japanese representative agencies and firms in Vietnam.

Japan business enterprises always chosen Da Nang as a crucial business partner as it meets the firms’ requirements for a favourable investment climate, socio-economic conditions and facilities, said former Japan Ambassador to Vietnam Yasuaki Tanizaki during his Da Nang visit in August.

In further improving its investment environment, the city has held several conferences in the Japan cities of Tokyo and Osaka, aiming to attract more investment from the country’s companies in its high-tech zone in the time to come.

Japan firms seeking investment opportunities in Da Nang are able to invest in the electricity industry, electronics, optical and communication technologies, manufacturing machinery, nanotechnology and medical equipment.