Vietnam to Complete Legal Framework for Japanese Investors

Chairman of the Vietnamese National Assembly Nguyen Phu Trong affirmed 150 leading Japanese firms Monday that Vietnam will create legal favorable conditions for them to invest in the open market economy.

 

Addressing the Vietnam-Japan Business Forum Trong noted that Japan is among Vietnam’s key strategic trade and investment partner and the two sides agreed to expand the bilateral trade to US$15 billion by 2010.

 

Japan is the biggest ODA provider for Vietnam, accounting for 30 per cent of total ODA loans. Japan has invested US$9 billion in 928 projects.

 

Chairman of JETRO, Yasuo Kayashi highly valued the government of Vietnam’s efforts to improve the investment environment via the Vietnam-Japan Initiative, and JETRO will support Japanese firms to seek opportunities in Vietnam and Ho Chi Minh City.

 

Chairman of Vietnam-Japan Economic Committee Keidanren Motoyuki Oka emphasized that the two sides will sign the Economic Partnership Agreement to boost the bilateral ties.

 

After the forum, the Vietnamese speaker witnessed the signing of a deal between Vietnam Investment and Development Group and Hitachi Cable and Hitachi Cable Fine Tech to carry out the first phase of optical fiber production plant in northern Hai Duong province, which will employ 800 local jobs. (VNA, Government’s Website)