Minister seeks industrial parks for Japanese investors
Minister seeks industrial parks for Japanese investors
Vietnamese Minister of Planning and Investment Nguyen Chi Dung has called on Japanese infrastructure developers to build industrial parks for Japanese investors in Vietnam in an effort to welcome a new wave of investment.
Minister Dung was speaking at a high-level meeting of a joint committee to evaluate the final results of the seventh phase of the Vietnam-Japan Joint Initiative, held in Hanoi on December 12.
Investment in industrial parks with adequate infrastructure, which are dedicated to Japanese firms, will help lower their operational costs and make it easier for them to utilize high-quality human resources and input materials, he stated.
He advised Japanese firms not to invest in every field, which could lead to wasted time and increase their costs without producing satisfactory results.
The seventh phase of the Vietnam-Japan Joint Initiative started on August 2018 and finished this month. According to the joint committee, all 52 categories in the action plan for this phase have been well executed or are still in progress.
Among them, eight categories are behind schedule as they involve regulations affecting foreign investors, as stipulated in the Investment Law, the Enterprise Law, the Land Law and other laws on investment and business.
Also, the reforms of State-owned enterprises and of the stock market and the completion of regulations on the construction of gas pipelines in urban and suburban areas are creating delays.
One of the main reasons for delays is that Japanese officials need more time to provide documentation and collect enough information for Vietnamese agencies.
The two sides agreed in principle to start the eighth phase of the Vietnam-Japan Joint Initiative.
This phase targets macro issues associated with major feasible policy recommendations, helping improve Vietnam’s investment environment and attract more Japanese investors to the country.
