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About 64 percent of Japanese enterprises plan to continue expansion of their business in Vietnam

Vehicles in traffic jam in Hanoi on January 16, 2019. Photo by VnExpress/Ngoc Thanh. Sketched by the Pan Pacific Agency.

Pan Pacific Agency | COMMUICATION AGENCY FOR PACIFICA REGIONS

HANOI, Feb 8, 2020, VNA. About 64 percent of Japanese enterprises plan to continue expansion of their business in Vietnam due to its favourable investment environment, Vietnam News Agency reported.

Chief Representative of Jetro Hanoi Takeo Nakajima presented the figure as part of the Japan External Trade Organisation (Jetro)’s survey on Japanese investment in Asia and Oceania 2019 to Deputy Minister of Industry and Trade Do Thang Hai at their meeting in Hanoi on February 6.

The Japanese enterprises will continue to expand their businesses in Vietnam based on revenue growth, development ability, stable production and consumption network, low cost, labour resources, regulations and business procedures.

Takeo Nakajima was quoted by the Cong thuong (Industry and Trade) newspaper as saying: “The investment environment in Vietnam has many advantages for Japanese businesses, such as political and social stability, ideal living environment for foreigners and cheap labour costs.”

According to this survey, 65.8 percent of Japanese enterprises doing business in Vietnam have been profitable, especially the manufacturing sector, which accounts for 80 percent of profitable firms.

The number of newly established Japanese businesses has also increased in Vietnam.

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