The HCM City government said there is a lot of scope for Japanese investors to set up shop in supporting and hi-tech industries in the city in the coming years.
The HCM City government painted a rosy picture for Japanese investment in the sectors after the city’s chair Nguyen Thanh Phong led a delegation to Japan from March 28 to April 2.
During the trip, Phong met the governors of Hyogo, Shiga, Osaka and Kanagawa prefectures and the mayors of Sakai, Osaka and Yokohama cities to discuss strengthening ties, heard a press briefing on the outcome of the trip on April 4.
Vo Van Hoan, head of the HCM City government’s office, said the city learned that there is a new wave of Japanese investment and that Japanese investors are shifting production to Southeast Asia.
According to Hoan, the Japanese prefectures that the delegation visited showed interest in the Vietnamese market, particularly HCM City. This is a chance for the city to lure more investment from Japanese firms.
The notable part of the HCM City delegation’s Japan visit was Yokohama, the capital of Kanagawa Prefecture, said Nguyen Vu Tu, director of the HCM City Department of External Relations.
Yokohama encourages companies based in the city in particular and Japanese companies in general to invest in seaports, and supporting and hi-tech industries in HCM City, and cooperate in human resource development.
Phong expected that Kansai companies would invest in supporting and hi-tech industries, the environment and wastewater treatment while meeting with the Kansai Economic Federation (Kankeiren) and the Kansai Bureau of Economy, Trade and Industry (METI Kansai). These two bureaus are cooperating with HCM City in consulting and assisting Japanese firms investing in or having investment plans in the city, Tu said.
The HCM City delegation dropped by a number of companies like Daiyu Kogyo, Kohnan Shoji, Nidec, Optex and Nipro during the Japan visit.
To attract more foreign investors, particularly Japanese ones, HCM City will further streamline administrative procedures, help investors, and improve the performance of trade and investment promotion centers and organisations.
In addition, the city will consider setting up a one-stop-shop investment promotion centre to provide potential investors with information and assist them to complete procedures, according to Hoan.
Hoan added Japan really cares about vocational training and wants Vietnam to provide young engineers.
The HCM City delegation expressed hopes the Japanese government would continue ODA for its key infrastructure projects such as sanitation and metro projects.
According to Su Ngoc Anh, director of the HCM City Department of Planning and Investment, Japanese companies are involved in 828 projects worth over $2.7 billion in the city.
Source: The Saigon Times
Keywords: HCM City, needs, Japan investment, supporting industries
