Vietnam Becomes Third Attractive Destination for Japanese Investors

The Japan Bank for International Cooperation (JBIC) has recently announced its research on overseas business activities of Japanese companies in the fiscal year of 2005, in which Vietnam ranks third in the world in being attractive to Japanese investors.

 

The position has increased by one notch compared to the fourth ranking last year, proving the improvement of the long-term vision of Japanese investors.  

 

Also according to the survey, Japanese small and medium enterprises praised Vietnam as the second most promising country after China for medium-term business operations. 

 

The research focuses on defining current trends and future prospects for overseas business activities of Japanese companies via foreign direct investment.  

 

Japan is now the third largest foreign investor in Vietnam after Taiwan and Singapore, with 556 projects to date worth $5.98 billion. Vietnam now welcomes the second wave of Japanese investment since the early 1990s. The first wave was blocked by financial crisis in Asia in 1997.

 

Vietnam and Japan will shortly hold talks on a Free Trade Agreement (FTA) to speedily boost economic cooperation between the two economies. The two-way trade between the two nations is predicted to reach $10 billion in the 2006-2007 period.
Youth