Japanese Investment in Vietnam Increases

Honda Vietnam - One of leading joint venture between Japan and Vietnam

According to the Ministry of Planning and Investment, Japanese companies in Vietnam are leading the investment table with additional capital of over US$379 million, one third that of total FDI. Nidec, Honda and Canon make up more than half of the increased amount.

 

After 10 years investing in Vietnam, Nidec built three factories in Vietnam with a total investment of US$100 million. Honda, after its success story in motorbikes, has invested US$58 million in an automobile factory with a capacity of 10,000 cars a year. For its part, Canon built a Laser printer factory in Que Vo (Bac Ninh) industrial zone with a total investment of US$50 million and capacity of nearly 8.5 million products a year. Mr Sacho Kageyama, Director General of Canon Vietnam said, “ Canon, like other Japanese investors, consider Vietnam as an attractive investment destination in ASEAN and our investment capital will continue to increase”.

 

In addition to the increased capital and new investment in the past seven months of US$176 million in 45 existing projects, there are also several projects waiting for licenses valued to over US$1 billion such as Dan Kia-Suoi Vang resort invested by Mitsui, Mitsubishi, Sumitomo and Limtec.

 

Mr Nguyen Trung Dung, Commercial Counsellor in Japan said that Vietnam is regarded as the first choice for Japanese small and medium enterprises investing abroad. Meanwhile, Mr Nguyen Huu Thang, Head of Foreign Investment Department, MPI, believed that to promote foreign investment, Vietnam should improve its investment environment and remove constraints for investors. Regarding Japanese investors, Vietnam will accelerate the implementation of the Vietnam-Japan Joint Initiative.