Home / Investment / News
Japan firms expect further streamlined investment procedures in Vietnam
Ngoc Thuy 11:34, 2020/08/21
The issue was raised at a conference held between Vietnamese government agencies and major Japanese enterprises in Vietnam to address their issues.

Japanese enterprises suggested the Vietnamese government further simplify investment procedures, specifically the process of obtaining investment, construction and hazardous waste treatment licenses, to facilitate investment from Japan.

 Overview of the meeting. Photo: MPI. 

The issue was raised at a conference held between Vietnam’s government agencies and major Japanese firms in Vietnam, including Hitachi Asia Vietnam, TEPCO Power Grid, JFE Engineering, MUFG Bank, JERA, among others, on August 20, with the aim of addressing issues that are directly related to Vietnam’s business environment and affect Japanese businesses’ decisions to expand operations in the country.

 Director of the Ministry of Planning and Investment’s Foreign Investment Agency Do Nhat Hoang. Photo: MPI. 

Director of the Ministry of Planning and Investment’s Foreign Investment Agency Do Nhat Hoang considered the conference an important channel to help the Japanese business community better understand Vietnam’s investment policies and business environment, and for the Vietnamese government to identify its shortcomings to continue attracting high quality foreign direct investment (FDI).

Takeshi Masuyama, country head of MUFG Bank in Vietnam, said the bank would continue to cooperate with Hanoi-based Vietinbank to promote Japanese investment into Vietnam.

 Country Head of MUFG Bank in Vietnam Takeshi Masuyama. Photo: MPI. 

MUFG Bank is currently Vietinbank’s second largest shareholder with a 19.7% stake, behind the Vietnamese central bank with a 64.46% stake.

Vietnam remains a safe and attractive investment destination in the eyes of foreign investors. Year to July 20, 1,620 new foreign-invested projects were approved with total registered capital of US$9.46 billion, up 14.4% in capital year-on-year, while 619 existing projects were injected an additional US$4.7 billion, up 37% in capital.  

The country is home to 33,000 foreign projects with registered capital of a combined US$380 billion from 137 countries and territories. In this regard, Japan is the second largest investor with over 4,500 projects worth US$60 billion.

A recent survey from the Japan External Trade Organization (JETRO) conducted at the end of 2019 on 3,500 Japanese firms revealed over 40% were considering expanding operations in Vietnam in the next three years, up 5.5 percentage points from a year earlier.

The JETRO in early July also released a list of 30 Japanese firms that are poised to receive subsidies from its government to move production facilities out of China, of them 15 eye Vietnam as a favorite destination.

TAG: Vietnam Japan JETRO MPI FIA investment procedures FDI MUFG Bank Vietinbank TEPCO JERA China trade war
Other news
15:49, 2020/49/20
Samsung heir to seek business opportunities in 3-day Vietnam trip
Samsung Vice Chairman is scheduled to meet Vietnam’s Prime Minister Nguyen Xuan Phuc during the visit to discuss business and investment opportunities.
12:05, 2020/05/19
Samsung heir to discuss investment plans in trip to Vietnam this week
Vice Chairman of Samsung Lee Jae-yong is set to meet Prime Minister Nguyen Xuan Phuc during his trip to Vietnam.
14:20, 2020/20/28
Urgent steps needed for Vietnam to attract high quality FDI
While global FDI is projected to decline by 40% year-on-year in 2020, FDI commitments to Vietnam in the first eight months dropped 13.7% year-on-year to US$19.54 billion.
14:27, 2020/27/26
Actual FDI in Vietnam down 3.2% to US$13.76 billion in Jan-Sept
FDI commitments in the January – September period totaled US$21.2 billion, down nearly 19% year-on-year.
13:08, 2020/08/22
Only 5% FDI projects in Vietnam use high technologies
Vietnam is home to 32,539 valid foreign direct investment (FDI) projects with registered capital of a combined US$381 billion, of which US$233 billion has been fully disbursed.
08:39, 2020/39/22
Hyundai starts building US$138-million automobile plant in Vietnam
The plant, considered one of the most important projects of Hyundai, is invested with an estimated VND3.2 trillion (US$137.44 million) and able to produce 100,000 vehicles per year.