31st Sea Games - Vietnam 2021 Covid-19 Pandemic
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.

RELATED NEWS
TAG: Vietnam Japan JETRO MPI FIA investment procedures FDI MUFG Bank Vietinbank TEPCO JERA China trade war
Other news
16:26, 2023/26/02
FDI to Vietnam’s real estate rises by over 70% in 2022
Vietnam's real estate market continues to show strong appeal to foreign investors despite global economic difficulties.
21:36, 2023/36/12
Laos vows to facilitate Vietnam's investors
The Government of Laos pledged to amend the law to facilitate the investment of Vietnamese companies that have poured more than US$5.34 billion in the neighboring country so far.
17:49, 2023/49/02
Hanoi lures nearly $1.7 billion in foreign investment in 2022
The capital city ranks among the top localities in foreign direct investment attraction.
17:33, 2022/33/11
European Investment Bank will provide Vietnam climate finance
Vietnam's Minister of Finance will visit Luxembourg soon to discuss the update of mutual agreements and address issues in regard to EIB-funded projects in the Southeast Asian country.
16:56, 2022/56/09
Vietnam stands as credible partner for foreign investors
The Vietnamese Government has made efforts to create favorable conditions for local and foreign businesses to ensure their long-term operation.
12:47, 2022/47/01
Vietnamese Gov’t to divest state capital at 141 businesses until 2025
The Government is determined to accelerate the divestment and privatization process at state firms that have stagnated due to the impacts of the Covid-19 pandemic.