Japanese businesses survey investment climate in Vinh Phuc

The JCCI delegation works with Vinh Phuc authorities on Wednesday (Image credit: vinhphuc.gov.vn)

Yoichi Kobayashi, Chairman of the Japan-Mekong Economic Co-operation Committee under JCCI, who led the delegation, said that JCCI has 514 branches across Japan with 1.3 million members, of which 99.7% are small- and medium-sized enterprises (SMEs), making up one third of the country’s total SMEs.

The Japan-Mekong Economic Co-operation Committee, established in 2013 with nearly 200 businesses, aims to promote economic, investment and trade co-operation between Japan and nations in the Mekong Sub-region, he said.

The JCCI business members joining the trip are mainly operating in the support industry, purposing to survey the investment environment and infrastructure in some industrial zones in the province. Earlier, the delegation visited Ba Thien Industrial Zone II.

At the meeting with local authorities, Kobayashi hailed Vinh Phuc’s favourable geological location and infrastructure, voicing his hope that there will be more Japanese investors to operate in the locality following the visit.

Welcoming the visit by JCCI, Chairman of the provincial People’s Committee Nguyen Van Tri said that Vinh Phuc has been striving toward becoming an auto and motorcycle manufacturing centre.

The province always welcomes investments in supporting industry, services, tourism and trade, he said, affirming to create favourable conditions for enterprises in general, and companies from Japan in particular to invest in these fields.

With the motto, ‘Investors investing in Vinh Phuc are Vinh Phuc citizens, businesses’ success is the success of the province’, Tri said he hoped that the interest from JCCI, especially along with the Thang Long Industrial Park about to be built by the Japanese company Sumimoto, there will be more Japanese companies to invest in Vinh Phuc.

On October 22, Vinh Phuc granted an investment licence to Sumitomo to build the 213ha Thang Long Industrial Park in Thien Ke and Tam Hop communes, Binh Xuyen district. The US$1.5 billion project is expected to help lure 79 Japanese projects and bring in employment opportunities for 25,000 local workers, while creating a breakthrough for the local industry.

Currently, 26 Japanese businesses are investing in Vinh Phuc with a total registered capital of US$800 million./.

Source: NDO