Addressing a recent association meeting, Sato Motonobu voiced his high appreciation of Vietnam’s efforts in creating favourable conditions for foreign investors and stated Japan was its largest investor in 2013, funnelling US$5.7 billion into projects, accounting for 26.6% of the country’s total foreign direct investment.

He proposed Vietnam devise an incentive package, including tax incentives and simplified licensing procedures, for Japan’s small- and medium-sized enterprises (SMEs) to entice more inflow of capital into the country.

“The Vietnamese government and agencies need to organize more investment promotions seminars in Japan during the whole year,” he said.

“If Vietnam does that, the country has great potential to attract large numbers of Japanese businesses in the time to come”, he stressed.

For his part, Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), spoke highly of the contributions by the Japanese business community to promoting cooperation between the two countries.

He said that the strategic partnership between Vietnam and Japan is especially bearing fruit in the fields of economics, trade and investment, which brings mutual benefit and boosts the traditional friendship.

He affirmed that, in the future, Vietnam will continue down the path of creating favourable conditions for Japanese foreign investors and provide incentives and support Japanese businesses in investing in the country.