(MPI) - An investment promotion forum to introduce the investment climate of Japan’s Kanagawa prefecture to Vietnamese enterprises was held on November 18.

At the forum. Photo: MPI

Addressing at the event, Do Nhat Hoang, Director General of Foreign Investment Agency (FIA), under the Ministry of Planning and Investment said the relationship of Vietnam and Japan is at its best ever, and the two countries have substantial potential to boost cooperation in all fields that on par with the bilateral extensive strategic partnership for peace and prosperity in Asia, towards the 50th anniversary of Vietnam-Japan diplomatic ties in 2023.

Vietnam highly appreciates the determination of Japanese enterprises to implement planned projects in Vietnam. These projects and their social responsibilities have made great efforts to the national socio-economic development, he stressed.

As of October 20, 2022, Japan ranked third among 141 countries and territories investing in Vietnam with approximately 5,000 valid projects worth 68,4 billion USD, focusing on processing and manufacturing industry (accounts for 62,3% of total investment capital). In which, Kanagawa prefecture poured about 815 million USD in 112 projects in 16 provinces and cities of Vietnam, and 49 of those are in processing and manufacturing industry with a total registered capital of 713 million USD.

Vietnam has invested 18,9 million USD in 101 projects in Japan as of October 20, 2022, focusing on such fields as information and communication, wholesale and retail, repair of motor vehicles and motorcycles, accommodation and catering services, education-training and other industries. Japan ranked the 36th among 79 countries and territories receiving Vietnam’s overseas investment.

FIA director general expressed his hope that Kanagawa prefecture create favorable conditions for Vietnamese enterprises to expand business cooperation and collaborate in technology transfer; developing cooperation programs and training courses to improve the quality of human resources as well as providing digital transformation for Vietnamese businesses. He added, the MPI will continue working closely with Kanagawa prefecture to support and encourage businesses of the two countries to do business.

Governor of Kanagawa prefecture Kuroiwa Yuji introduced briefly about the prefecture and said, located to the south of Tokyo, Kanagawa is in the Keihin economic corridor and is famous for its high-tech industries, R&D centers and port industry.

Kanagawa had signed a Memorandum of Understanding with the MPI since 2014 with many cooperation activities. The prefecture also cooperated with Hung Yen, Ha Nam and Long An to build Kanagawa Industrial Park, aiming to encourage their businesses to explore potential and invest in these localities.

The Governor pledged that, Japan in general and the prefecture in particular, will step up coordination with Vietnam. Vietnam is a safe investment destination for Kanagawa enterprises, and Kanagawa - a potential investment destination will support the development of Vietnamese businesses.

Bao Linh

Ministry of Planning and Investment