According to a survey on Japanese enterprises’ overseas investment expansion plans conducted by JETRO, 48.1 percent of Japanese companies focused on expanding their businesses in China while 41 percent chose Vietnam.
24.1 percent of Japanese firms select Vietnam as a source of supply for their business, 13.5 percent higher than Thailand.
Besides Ha Noi and Ho Chi Minh City, other destinations attracting Japanese investors consist of Vinh Long, Dong Thap and others.
Japanese companies also stated that the production capacity of Vietnam's supporting industry enterprises have recently sharply increased since 2010. Vietnamese businesses have taken measures to improve the capacity of its supporting industries to make domestic enterprises effectively participate in global value chains.
In addition, local authorities have offered incentives of tax, laws, administrative procedures that attract investment. The remaining problem is that the Government should improve transport infrastructure to enhance the connection and supplying capacity among domestic businesses, and between local and Japanese enterprises.
Japanese Prime Minister Yoshihide Suga arrived in Hanoi on October 18, in his official four-day visit to Vietnam, aiming at boosting bilateral cooperation and bringing the relationship of the two countries to new height.
