In the early days of 2018, the survey team of 22 companies in the field of processing and manufacturing from Japan has visited Vietnam to find out information and steps to invest in Vietnam.
On January 22nd, Minister of Planning and Investment Nguyen Chi Dung had a meeting with business delegations from Japan. The meeting was the first in the series of Vietnam investment environment investigation by Japanese enterprises.
At the meeting, Minister of Planning and Investment Nguyen Chi Dung highly appreciated Japan’s contributions in supporting the socio-economic development of Vietnam during the past years and acknowledged the relationship between the two countries has been raised to a new height.
According to the Minister, ODA from Japan ranks first among aid donors in Vietnam, fourth in trade, second in FDI among countries and territories investing in Vietnam. Moreover, there are cooperation in other fields such as people’s diplomacy, tourism, culture, national defense and security… This clearly reflects a deep and comprehensive cooperative relationship and has been raised to new heights.
The Minister also affirmed that the investment environment of Vietnam is in a favorable condition, highly appreciated by many countries and regarded as an attractive investment destination. The two countries’ relationship are also in enjoyable time. Therefore, it is hoped that Japanese investors will soon find out their investment opportunities here.
We can show a number of advantages when investing in Vietnam such as a strategic location in the center of Southeast Asia, the area which is considered to be the most dynamic in the region, the gateway to penetrate the market of 600 million people; political stability, abundant human resources, large workforce; the scale of the economy is relatively large, about 220 billion USD; high speed growth for many years; The middle class is emerging and growing at a rapid pace, showing a large and potential consumer market; The infrastructure has been improved significantly recently.
In addition, the institutional and legal system of Vietnam on investment has been developed and finalized. The open economy with 10 signed FTAs shows a large import-export market; Reform of administrative procedures, improvement of investment environment, favorable and attractive business environment with more incentives; The policy of reducing input costs of production has been paid much attention by the Government of Vietnam. This is recognized by the international community as Vietnam’s ranking indicators have continually improved.
In particular, Vietnam’s economy in 2017 has achieved many important achievements, the growth rate of 6.81% of Vietnam is considered the highest compared to other economies in the region. Not only that, the macro economy is operating stably, inflation is controlled, the development and growth are reflected in all aspects, reflecting a stable economy with good development.
In 2018, the Government of Vietnam will continue to focus on three core issues: macroeconomic stability; To restructure the economy along the direction of raising the productivity, quality, efficiency and competitiveness of the economy; and focus on three strategic breakthroughs: institutional improvement, infrastructure improvement, and human resource development.
In order to ensure sustainable development associated with environmental and social issues, the Government of Vietnam continues to encourage foreign businesses to invest in Vietnam, but in a more selective way. It is to attract investment in manufacturing, processing, low-energy industries and high-value, high-tech industries. Particularly want investors to study the industry field of preference in the three special zones to form to find their opportunities.