Vietnamese localities vie for Japanese investments in agricultural production. (Photo: congnghenhatban.com)
Vietnam’s Ministry of Foreign Affairs held the “Meet Japan” seminar late last week between the Japanese Embassy, business associations and leaders of eight localities in the country.
Truong Hoai Nam, vice chairman of Can Tho city’s People’s Committee, expressed pity that Japanese investors were slow in investing in many projects that the locality hoped for investment from the Northeast Asian country, the VietnamNet newspaper reported.
He tipped that Japanese firms have missed a project in the city which has been taken by a company from another country. “We vie for Japanese presence in the agriculture and tourism. However, Japan’s rivals are more determined to enter these markets,” he said.
Bui Nhat Quang, vice chairman of the central province of Ninh Thuan, said that Japanese investors were too cautious about investing in the Ninh Thuan nuclear power project.
The province plans to build two nuclear power plants. One of them is with Russian partners and is now at the resettlement phase. The Japanese investors, however, are still mulling over the second one, Mr. Quang added.
At the dialogue, almost Vietnamese localities expressed interest in building partnerships with a Japanese locality that has similar conditions to develop their strengths.
Katsuro Nagai from the Japanese Embassy in Vietnam said that the Southeast Asian nation is a favorable destination of Japanese businesses and the two countries have huge potential for cooperation.
Naoki Takeuchi from the Japan External Trade Organization (Jetro) in Vietnam said a large number of Japanese companies want to establish production facilities in Vietnam. He proposed the Vietnamese government work to further improve the investment climate.
Japan is the biggest provider of official development assistance for Vietnam over the past 20 years. The former is also the latter’s second-largest investor and number four trade partner.
Over 1,400 Japanese firms are operating in Vietnam. In 2015, nearly 100 Japanese officials and businesses have visited Vietnamese localities to explore business opportunities.