Japan research reveals ASEAN market hotspots
More than 53 percent of the enterprises participating in the survey said that Vietnam was their ideal investment destination, with Thailand ranking first, with 59.7 percent.
The confidence rate in the Vietnamese market increased by 4.9 percent compared with last year’s survey.
The poll also found a reduction of 2.2 percent in the confidence rate for the Thai market compared to last year.
Nearly 49 percent of Japanese companies with registered capital of more than 10 million yen chose ASEAN as an overseas investment priority, the survey found.
Japanese investors said that Vietnam’s membership in the Trans-Pacific Partnership trade agreement was an incentive for them to invest in Vietnam.
Nearly 13 percent of the respondents said they would choose Vietnam first as an investment destination among the 12 member countries of ASEAN.
Of the 12 countries that have signed the Trans-Pacific Partnership, which includes Vietnam, Japan and the US, more than 10 percent said they would invest only in Japan, and 4.9 percent in the US.
Another survey of 1,027 Japanese enterprises conducted early this year by the Japan External Trade Organisation (JETRO) showed that more than 60 percent of Japanese enterprises investing in Vietnam had plans to expand their business in the country.
About 85 percent of the enterprises said they would expand to increase revenue, while 65 percent said they saw high potential for economic growth in Vietnam.
JETRO said that Japanese enterprises considered the ASEAN Economic Community, which simplifies customs procedures, reduces tariffs among members and offers employment mobility, to be an incentive to further invest overseas.
About 60 percent of the respondents said they were earning profits in Vietnam.
Japanese enterprises said they wanted to invest in Vietnam as it continues to enjoy strong growth, especially with the signing of more trade agreements.
