09:54 | 11/01/2018 Investment
(VEN) - The Japan External Trade Organization (JETRO) is calling on Vietnamese enterprises to do business in Japan, noting that the country is an attractive destination for foreign investors.
At a recent news conference in Hanoi, JETRO Chief Representative Hironobu Kitagawa said Vietnamese enterprises have golden opportunities to invest in Japan, with its favorable location, sound business climate and large Vietnamese population. He also mentioned Japan’s strengths for all foreign investors, including its growing economy, large consumer market, innovation and safety.
Japan did not focus on luring foreign investment in the past, but has shifted course due to its development requirements, forming special economic zones and adopting preferential policies.
According to Nguyen Sy Hai, JETRO representative in Vietnam, Vietnam runs 1,253 projects worth US$21.4 billion in 74 countries and territories worldwide. However, Vietnamese businesses have made little inroads in Japan, operating 49 projects valued at only US$7.5 million.
JETRO offers a program to support Vietnamese businesses who wish to invest in Japan. After registration with JETRO, the companies will receive free consulting services from the Invest Japan Business Support Centers (IBSC).
Temporary office space will be provided for the firms, including internet, telephone, fax and photocopying services within 50 working days at the IBSC located in six cities in Japan, namely Tokyo, Yokohama, Nagoya, Osaka, Kobe and Fukuoka. In addition to private offices for one to six people, businesses can also use meeting rooms, conference rooms and reception rooms at the IBSCs.
Experts will also provide consultation for Vietnamese businesses on various matters, including tax-related procedures, employment and residency laws, local business conditions and more.
Some 16,000 foreign businesses have to date used this program. Several Vietnamese businesses have successfully opened firms in Japan such as Vietnam’s largest information technology service company FPT (opened in 2005 in Tokyo) and CMC Corporation (opened in October in Yokohama).
According to JETRO, many Vietnamese companies are interested in the Japanese market and with the support of the Japanese government, it hopes to receive additional Vietnamese investment in the near future.
JETRO is a non-profit, government-linked organization that works to promote mutual trade and investment between Japan and the rest of the world. JETRO currently has 74 offices in 54 nations, including representative offices in Ho Chi Minh City and Hanoi. In addition to assisting Japanese investors in Vietnam, JETRO supports Vietnamese businesses investing in Japan.