Tra Vinh Opens Door Wide to Welcome Japanese Investors

1:46:01 PM | 19/11/2013

Introducing the Tra Vinh investment environment, understanding the needs of Japanese companies investing in Ho Chi Minh City and neighbouring provinces and publicising new investment plans to invite investors, especially investors from Japan, are the major contents of a conference on "Promoting Japanese investment into Tra Vinh province" held by the Japanese Consulate in Ho Chi Minh City in collaboration with Tra Vinh province.
The Mekong Delta province of Tra Vinh is changing rapidly and powerfully in the process of international integration, development and economic restructuring. The province is rich in potentials for industrial, agricultural and tourism development. Provincial leaders are striving with their highest will and determination to accelerate social and economic development, improve people's livelihoods and developing infrastructure by means of effective trade - investment - tourism cooperation with Japanese investors as well as other domestic and foreign investors.
Regarding the investment environment, the provincial competitiveness index (PCI) of Tra Vinh ranked eighth out of 63 provinces and cities nationwide in 2012 and was awarded the "Certificate for Best Improvement in Economic Governance Quality in 2012" by the President of the Vietnam Chamber of Commerce and Industry (VCCI). This success proved that, despite numerous difficulties, Tra Vinh province always strived to improve the quality of economic governance and business - investment climate.
Mr Dong Van Lam, Standing Vice Chairman of the Provincial People’s Committee of Tra Vinh, said Japan now has over 2,100 projects in Vietnam with a total registered capital of US$33.4 billion, ranking first amongst all countries and territories investing in Vietnam. But, Tra Vinh province only has one Japanese-invested project with a registered capital of US$48.64 million. He stressed: "I believe that more projects from Japanese companies will come to the province after this event and they will surely make a success."
Currently, Tra Vinh province is calling Japanese companies to invest in many important industrial parks (Dinh An, Cau Quan and Co Chien), export agricultural processing factories, fruit processing plants, rural town water supply facilities, and high-quality rice production and consumption. The province has many preferential policies for domestic and foreign investors, including those from Japanese, to invest in agriculture and seafood processing, bridge and port construction and operation.
Mr Lam said Tra Vinh always opens the door wide to welcome domestic and foreign enterprises, including Japanese, to invest in production and business with a lot of incentives. The province expects to have close cooperation with Japanese localities as many Japanese prefectures, cities and companies are keen to expand investment and presence in Vietnam.
To attract and encourage investors, Tra Vinh will continue to address its shortcomings like undeveloped supporting industries, unsynchronised infrastructure systems and insufficient qualified human resources; improve administrative reforms based on the "One-stop source" mechanism, openness and transparency. The province will create favourable conditions not only for large Japanese corporations but also for small and medium businesses because this is the main direction of investment province as they fit the development level of the provincial economy and help increase employment.
Mr Sawairi Makoto, CEO of Yazaki Eds Vietnam Ltd - Tra Vinh Branch, said, his company plans to expand investment scale in Tra Vinh province in the next three years after it considered labour supply and market. He said: "Investing is difficult regardless of locality, both objectively and subjectively. Fortunately, in the most difficult time, we received the timely and enthusiastic support of the Tra Vinh leadership. This backing has helped our factories operate very stably and efficiently." But, he also reminded Tra Vinh province about building better industrial parks for foreign investors as this will make them feel more secure. Foreign investors usually compare local advantages before choosing what they think best to their investment. For that reason, Tra Vinh province needs to highlight its competitive advantages to allure foreign investors in general and Japanese ones in particular.
Mr Hida Harumitsu, Consul General of Japan in Ho Chi Minh City, emphasised that, with its strategic location, diverse cultures, abundant marine resources and young labour force, Tra Vinh is indeed an ideal destination Japanese investors. Japanese companies are willing to build long-term cooperation ties with Tra Vinh province in particular and Vietnam in general.
My Chau