Japan Longs to Invest in Supporting Industries, Hi-tech in HCM City

Tuan Minh

15:48 05/04/2016

BizLIVE - Japanese enterprises have shown high interest in investing in supporting industries and hi-tech in Ho Chi Minh City.

Japan Longs to Invest in Supporting Industries, Hi-tech in HCM City

Ben Thanh-Suoi Tien urban railway, funded by Japanese ODA, is under construction. (Photo: saigonprop.com)

Vietnam’s southern hub of Ho Chi Minh City is about to receive rising investment from Japanese businesses, which are keen on putting money in supporting industries, seaports and high technology in the city, said Vo Van Hoan, chief of the municipal People’s Committee office.
Mr. Hoan made the statement after a delegation, led by Chairman of the committee Nguyen Thanh Phong, toured four prefectures namely Hyogo, Shiga, Osaka and Kanagawa, and three cities including Sakai, Osaka and Yokohama earlier this month.
Japanese businesses wanted Vietnam to boost vocational training to meet their demand for skilled labor force when investing in the Southeast Asian country.
To smooth the path for the future capital influx, the city needs to speed up the overhaul of administrative procedures, said Mr. Hoan. A trade promotion center will be established to aid investors based on the application of the one-stop-shop mechanism.
During their meetings with Japanese sides, HCM City’s leaders called for Japan to continue providing official development assistance (ODA) for environment and urban railway projects.
Japan has invested in 828 projects in the city, with the total registered capital reaching approximately $2.7 billion. The city has received $3 billion in Japanese official aids for eight projects, according to the Vietnam News Agency.