Japanese investors’ confidence in Vietnam increasing: JETRO Vice President

Japanese investors’ confidence in Vietnam has still been increasing despite adverse impacts of the COVID-19 pandemic, Shigetoshi Aoyama, Executive Vice President of the Japan External Trade Organisation (JETRO), has said.

Shigetoshi Aoyama, JETRO Executive Vice President, speaks at the forum. (Photo: VNA)
Shigetoshi Aoyama, JETRO Executive Vice President, speaks at the forum. (Photo: VNA)

Speaking at the Vietnam-Japan trade and investment forum in Tokyo on August 24, Aoyama said the free trade policy and efforts in attracting investors and improving the business environment by the Vietnamese Government have helped to raise the confidence of Japanese firms.

According to the Vice President, after Vietnam relaxed its entry restrictions last March, JETRO had received many requests regarding trading activities in Vietnam.

Aoyama cited a recent survey by JETRO showing that over 55% of Japanese companies want to expand their business in Vietnam in this and next year, the highest among Southeast Asian nations.

Trade between Vietnam and Japan has also grown amid the pandemic, he said, adding that the bilateral trade value last year doubled that recorded 10 years ago, and Japan’s investment in the Southeast Asian nation amounted to 3.65 billion USD, tripling the figure in 2020.

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An overview of the forum (Photo: VNA)

The forum was held by the Vietnamese Ministry of Industry and Trade (MoIT) and Embassy in Japan in coordination with JETRO and the ASEAN-Japan Centre (AJC), with the participation of more than 100 representatives from associations and businesses of the two countries, including Japanese companies operating in the areas in which Vietnam interested like energy, technology, logistics and real estate.

MoIT Minister Nguyen Hong Dien called on Japanese firms to increase their investments in Vietnam and expand operations to the Association of Southeast Asian Nations (ASEAN) and other markets that sign free trade agreements with Vietnam.

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Vietnamese Minister of Industry and Trade Nguyen Hong Dien speaks at the forum. (Photo: VNA)

The minister said he is ready to hear opinions from Japanese enterprises and investors to better improve the business environment in Vietnam.

The participating businesses explored cooperation and investment opportunities at the forum.

On the sidelines of the event, Vietnam’s T&T Group JSC and Marubeni Corporation of Japan exchanged a memorandum of understanding (MoU) on cooperation in energy.

VNA