The meeting between the Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and leaders of Japanese companies along with the Japan External Trade Organization (JETRO) touched upon a host of topics such as the legislative and regulatory processes and attitudes toward pending trade agreements.

  

The Japanese business executives reiterated their support for the Trans-Pacific Partnership Agreement (TPP), which would facilitate trade and promote investment between the countries that are party to it, if ultimately ratified.

The TPP contains 30 chapters of trade, labour, intellectual property, and environmental regulations.

Approval of the TPP is currently stalled in the US Congress, principally held up by the US presidential election process underway, but there remains a fading glimmer of hope that the agreement will be approved by the US.

Also discussed at the luncheon was the cost of doing business in Vietnam.

On July 21, JETRO is scheduled to send a delegation of over 20 businesses from Tsubame-Sanjo to HCM City to participate in trade negotiations with a large number of Vietnamese businesses.

Tsubame-Sanjo, which lies in the centre of Niigata prefecture, is a thriving area that produces some of the world’s finest machined metal products.

Speakers at the luncheon introduced a survey conducted by JETRO summarizing factors that Japanese investors take into account along with the obvious advantages a large consumer market the size of Vietnam, in making investment decisions.

The JETRO survey of Japanese companies showed an uptick in respondents identifying labour costs the most striking positive element affecting their decision to invest and operate in Vietnam.

Recently, JETRO launched programs in HCM to supply goods to Japanese businesses operating in Vietnam. In early July, JETRO organized a Japan Pavilion program at the MTA Vietnam (the International Precision Engineering, Machine Tools and Metalworking Exhibition) to support businesses seeking new markets.

Over the years, the program has helped strengthen trade links between the two nation’s businesses. According to statistics from JETRO, there were up to 1,224 business transactions in 2013, 1,471 in 2014 and 1,661 in 2015. The figure is expected to increase this year.

In 2017, the Japanese leading retail group Takashimaya is expected to put the Saigon Centre into operation, its first retail centre in the Southeast Asian region.

Another popular brand in Ho Chi Minh City is AEON. With large-scale points of sales and a diversified entertainment section, AEON has met with consumers increasing demands.

AEON recently inaugurated its fourth shopping mall in Binh Tan district, HCM City and is scheduled to establish another retail centre in district 8. 

In the coming time, AEON plans to open 20 shopping malls throughout Vietnam. 

Source: vov.vn