Japanese investors seek business opportunities in Hanoi
Japanese investors seek business opportunities in Hanoi
A group of Japanese businesses joined the Hanoi-Japan investment promotion conference on March 29 to seek new business and investment opportunities in the city.
“Japan is a top foreign investor in Hanoi with an accumulated registered capital of over $10 billion, making up 25.5 per cent of the city’s total FDI. Japan is also a leading ODA donor for Hanoi with 32 projects totalling nearly $3 billion,” Nguyen Doan Toan, Deputy Chairman of the Hanoi People’s Committee.
Considered a key partner, the city is attracting Japanese investment in high-tech industries, urban railway lines, tourism, high-tech agriculture, high-tech healthcare, education, environment, and trade centres.
“The city is committed to continue its administrative reform, thus further improving the business climate to facilitate Japanese business and investment plans,” Toan noted.
At the conference, a number of Japanese firms operating in infrastructure development and logistics showed strong interest in the local market. As part of the event, four memoranda of understanding on co-operation in investment promotion, tourism, and trade were signed between Japanese and Vietnamese companies.
In 2018, Japan invested in 131 new projects in Hanoi with a total registered capital of $4.7 billion, accounting for 89 per cent of the city’s total newly-registered capital. Outstanding projects were the $4.14 billion smart city and Nidec’s $400 million project as well as the $90 million Xuan Son waste-to-power plant.
So far, Japanese investors has developed several important projects in Hanoi, thus contributing to the city’s development. These projects include the Nhat Tan-Noi Bai Expressway, Nhat Tan Bridge, Noi Bai International Airport, and several industrial parks.
Japan is also Hanoi’s third-largest tourism partner with over 300,000 Japanese tourists arriving to the city in 2018.
