Vietnam simplifying procedures to lure foreign investment
Hung made the statement while receiving Hiroshi Shinozuma, president of the Kansai Economic Federation, who is leading a delegation of more than 80 Japanese representatives from small- and medium-sized enterprises to explore opportunities in Vietnam.
Hung emphasized how the two countries have worked well together in the past to solve problems, particularly Japan’s recent decision to resume its official development assistance (ODA) to Vietnam.
The two-way trade revenue from enterprises in Vietnam and Japan’s Kansai region has reached nearly US$10 billion, Hung said, adding that the figure, however, does not match the two countries’ potential.
For his part, Shinozuma said that although both Japan and Vietnam are facing difficulties in the global economic turmoil, the Japanese government and businesses appreciate the Vietnamese government’s removing obstacles in investment and administrative procedures, and regard Vietnam as an attractive investment destination.
Japanese enterprises are very interested in auxiliary industries, because it is believed they will recover quickly as the world economy improves, said Shinozuma.
Today, the Vietnam Chamber of Commerce and Industry, the Kansai Economic Federation and the Japan External Trade Organization will join forces to hold the third Vietnam-Japan Economic Forum in Hanoi.
