Japanese enterprises eye Hanoi market
Japanese enterprises eye Hanoi market
A number of Japanese companies will attend two exhibitions on machinery and technology for support industries, at the Cultural Friendship Palace in Hanoi on August 27-29.
The Vietnam Manufacturing Expo 2014 (VME) and “Industrial Components and Subcontracting (ICS) Vietnam 2014 are seen as the most important manufacturing industry events.
Masato Hayashi, Head of Business Office of Hitachi Cable Company Vietnam, said that the events provide an opportunity for the company to seek business opportunities in Vietnam, especially in the fields of industry and social infrastructure.
He added that the company has also spent time studying the Vietnamese government’s policy and even culture.
According to Seiji Masuda, general director of Sanko Fastem company, Japan considers Vietnam as one of the most attractive investment destinations.
“We are the largest anchor bolts manufacturer in Japan and Vietnam will need us to repair production lines,” he said. “This is the second time we have attended VME in Vietnam, after reaping healthy revenues at the previous event.”.
“The exhibition is an effective marketing tool for us. Moreover, it provides a golden opportunity for us to explain and offer guidance to Vietnamese customers using the product”, he added.
There are 520 Japanese invested projects operating in Hanoi with a total capitalisation of US$$4.6 billion, accounting for 22% of the city’s total foreign direct investment, generating 130,000 jobs and contributing US$109 million to the city’s budget every year.
However, Japanese investors say Hanoi needs to accelerate administrative reform and introduce more incentives to attract foreign investment.
vir
