Japanese Investors Increasingly Interested in Vinh Phuc Province

With its strategic location, modern infrastructure, abundant workforce, attractive incentives and open investment climate, Vinh Phuc province has become a prime destination for foreign investors, especially those from Japan.

Signing ceremony of cooperation agreement between Vinh Phuc Provincial People’s Committee and Japan External Trade Organization (JETRO) 
 

The province has hosted 62 Japanese investment projects with a total registered capital of US$1.8 billion, mainly in the sectors of automobile and motorcycle manufacturing and assembly, industrial processing and manufacturing and supporting industries. Japan ranks second among 20 countries and territories that have invested in Vinh Phuc in terms of registered capital and number of projects. Japanese enterprises operating in Vinh Phuc have made significant contributions to the provincial budget revenue and generated more than 22,000 jobs. Many global corporations such as Honda, Toyota, Nissin, Exedy and Sumitomo have achieved remarkable success in their investments in the province.

One of the recent notable projects is the Vinabeef Tam Dao breeding and processing complex - the first project in the cooperation plan between Vietnamese and Japanese high-tech agriculture corporations Vinamilk, Vilico and Sojitz. The project is located in Trung My commune of Binh Xuyen district and Minh Quang commune of Tam Dao district, Vinh Phuc province. It covers an area of nearly 76 hectares and consists of two main subdivisions: a cattle farm with a capacity of 10,000 cattle and a beef processing factory with a capacity of 30,000 cattle/year. The total investment for the first phase of the project is VND3 trillion. Vinabeef Tam Dao aims to develop and operate a closed 4-in-1 model that integrates livestock, production, processing and distribution, with the vision of building a stable supply of high-quality beef for Vietnam and Southeast Asia and exporting to leading markets in Europe and America.

Mr. Yoichi Harumoto, General Director of Japan Vietnam Livestock Co., Ltd, praised Vinh Phuc as an ideal investment destination for its strategic location, close to Hanoi and Noi Bai International Airport. He also noted the high demand for beef in the northern market compared to the low supply, which motivated him to choose the region for his project. He expressed his gratitude for the timely support and clear guidance from the provincial government and relevant departments and branches, especially in completing the legal procedures for the project. The Vinabeef Tam Dao breeding and processing complex project is a testament to the growing interest of Japanese investors in Vinh Phuc, not only in the industrial sector but also in high-tech agriculture and other sectors.

By Thanh Loan, Vietnam Business Forum