Japanese investment encouraged in Vietnam

10:40' 03/03/2009 (GMT+7)

VietNamNet Bridge - The Government will smooth the way to create fabourable conditions for Japanese investors to establish long-term partnerships with their Vietnamese businesses, said Deputy Prime Minister Nguyen Sinh Hung in Hanoi on March 2.

Mr Hung made the statement while receiving Hiroshi Shinozuma, president of the Kansai Economic Federation (Kankeiren), who is leading a delegation of Japanese investors and businesses to explore opportunities in Vietnam.

He spoke highly of the Kansai region’s potential for economic development and said in the context of the global economic recession, the Kankeiren delegation’s visit will help boost economic, trade and investment ties between the two countries.

For his part, President Shinozuma said that although Japan is facing difficulties from the global economic turmoil, its businesses still regard Vietnam as an attractive investment destination.

He said that his government’s recent decision to resume its official development assistance (ODA) shows its desire to cooperate with Vietnam.

Kankeiren encompasses 9 prefectures, including capital Tokyo, Hyogo, Osaka and Nara, which makes up 20 percent of the country’s GDP. It is the second largest economic federation in Japan after Keidanren. The federation hosts 780 member businesses, mostly big groups and companies specialising in finance, banking, electronics, mechanics and information technology.

Many Kankeiren businesses have entered into and operated efficiently within Vietnam. In addition to economic cooperation, Kankeiren has trained human resources in several Asian countries, including Vietnam.

VietNamNet/VOV