Wednesday, February 21,2024 - 12:33 GMT+7  Việt Nam EngLish 

Southern localities a magnet for Japanese investors 

 Monday, October 2,2023

AsemconnectVietnam - Southern localities remain attractive destinations for Japanese investors thanks to the completion of infrastructure systems and an improved business environment.

Recently, many Japanese firms, including Nitto Denko Corporation, Yuwa Co. Ltd., SKM Vietnam Co. Ltd., and AEON Co., Ltd., have received licences to expand their factories in Binh Duong province with a total investment of 168 million USD.

At the same time, Matsuya R&D Vietnam Co., Ltd, which specialises in producing medical equipment, has also launched its sixth factory in Dong Nai.

Currently, Binh Duong, the southern industrial hub, is a favourite investment destination of Japanese investors who have invested nearly 6 billion USD in 350 projects in the locality, making Japan the province’s second biggest foreign investor.

Mai Hung Dung, Vice Chairman of the People’s Committee of Binh Duong said that the locality defines Japan as its strategic investor, therefore, it has rolled out various measures to attract more Japanese investors.

Meanwhile, Dong Nai is hosting 272 Japanese-invested projects with a combined capital of 5.59 billion USD. Japan ranks third among foreign investors in the province in terms of the projects number and capital.
Another favourite southern locality for Japanese investors is Long An, where 138 Japanese-invested projects worth 767 million USD are operating, making Long An the leading hub for Japanese projects in the Mekong Delta region.

Since the beginning of 2023, a series of inter-regional infrastructure projects have been launched in the southern region, which is the primary factor that turns the region into a magnet for foreign investors.

The Belt Road No.3 project with a length of 76.3km, crossing four localities of HCM City, Binh Duong, Dong Nai and Long An started in June. Construction of Bien Hoa-Vung Tau expressway project and Phuoc An bridge connecting Cai Mep-Thi Vai port has also been launched, along with the expansion and connections of many national highways.

Besides, many industrial parks in the southern key economic region have been expanded to create land funds for investors.

The reform of administrative procedures in many localities has also made foreign investors more confident in the southern localities.

Experts say that with the removal of bottlenecks in infrastructure and investment environment, southern provinces and cities will attract a strong wave of investment not only from Japan, but also from Western Europe and North America./.
 
Source: en.vietnamplus.vn/southern-localities-a-magnet-for-japanese-investors/268647.vnp

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