Creating Favourable Conditions for Japanese Businesses Investing in Vietnam

According to Mr Yoichi Kobayashi, there are about 1,600 Japanese companies investing in Vietnam. The figure reflects increasing interest among Japanese companies in the Vietnamese market. This is because Vietnam has always maintained a high growth rate, political stability, high-quality human resources and good relations between the two peoples. Therefore, the wave of Japanese investment into Vietnam includes not just large enterprises, but also small and medium-sized enterprises (SMEs). Japanese companies feel confident when stepping up economic cooperation with Vietnam on the basis of the relationship of mutual trust between the two countries.

 

Mr Yoichi Kobayashi added that there were 50,000 Vietnamese students studying in Japan. The above figure also shows the increased mutual trust in the field of education and training. Japan has always been a "red address" for Vietnamese students seeking to enhance their knowledge in a professional working environment with advanced technology.

 

Mr Yoichi Kobayashi said that he just visited the Foreign Trade University (FTU) in Hanoi, and had come to know that each year the Vietnam-Japan Human Resources Cooperation Centre (VJCC) at the FTU trains 100 students. Along with Vietnamese students studying in Japan, these are well qualified human resources to work in Japan.

Addressing the meeting, Dr Vu Tien Loc was pleased to note that Japan is the largest ODA provider for Vietnam at US$2.5 billion in 2015, and the second largest investor in Vietnam with more than 3,000 projects valued at US$42 billion. Dr Vu Tien Loc said that under the direction of the Government, Vietnam is continuing to perfect the open door policy of the economy, participating in many new generation bilateral and multilateral agreements. Vietnam pays special attention to the Trans-Pacific Partnership (TPP), of which Japan is also a member.

 

In the future, Dr Vu Tien Loc hoped the Japanese side would continue to implement an action plan to promote priority industries in the Vietnam-Japan industrialisation strategy, implement Vietnam-Japan Joint Initiative Phase 6 and the next stages. Also, JCCI will continue to have policies to support Japanese SMEs investing in Vietnam, particularly in the priority industries of the industrialisation strategy, such as electricity, electronics, agricultural machinery, agricultural processing, fisheries, shipbuilding, environment and energy saving, automobile manufacturing and automotive parts.

 

In addition, Dr Vu Tien Loc also appreciated the petition of JCCI to the Government of Vietnam around the issues of improving the business and investment environment according to the aspirations of Japanese enterprises, including specific sections such as: boosting solutions for training and using human resources that can become a bridge for business activities between Japan and Vietnam. For example, Vietnam can extend the programme of sending trainees to Japan to study skills; apply internship at Japanese companies, or promote the recruitment of human resources who have been studying in Japan; promote the construction and upgrade public transport such as trains, buses to solve congestion in big cities such as Hanoi and Ho Chi Minh City; reduce import duties on goods imported for the purpose of research and development and shorten the procedures.

 

Dr Vu Tien Loc said that, as Vice Chairman of the Advisory Council for Administrative Procedures Reform of the Prime Minister, he would inform the Government and the National Assembly of the solutions, proposals and aspirations of Japanese enterprises in order to create a transparent business environment to further facilitate Japanese investors.