JETRO: Japanese firms intend to expand business in Vietnam
Over 60 percent of Japanese firms in Vietnam have plans to expand their business, according to Atsusuke Kawada, head of the Hanoi office of the Japan External Trade Organisation (JETRO).
Vietnamese firms talk with Japanese firms (Source: VNA)
Hanoi (VNA) – Over60 percent of Japanese firms in Vietnam have plans to expand their business, accordingto Atsusuke Kawada, head of the Hanoi office of the Japan External TradeOrganisation (JETRO).
They also continueconsidering Vietnam an important investment destination, he said at a pressbriefing announcing the result of a survey on the operation of Japanesecompanies in Vietnam in Hanoi on February 14.
The survey examined business operationof Japanese companies in Asia and Oceania in 2016. It was carried out inVietnam in October and November 2016, involving 639 valid respondents.
Over 60 percent of theresponding firms said they earned profits from investment in Vietnam (up 4percentage point from 2015), while 25.1 percent reported loss (up 1.1percentage points).
Besides, 80 percent said theyexpanded their business prompted by revenue increases while 63 percent of firmsin non-manufacturing industries cited “high growth potential” as reasons fortheir expansion plans.
Vietnam’s investmentenvironment is being improved, according to many businesses.
However, 58.5 percent of themsaid the labour cost was increasing, while around 40 percent considered incompleteinfrastructure facilities and complicated taxation procedure risks.
Vietnam was ranked fourthamong 15 nations with underdeveloped support industry, according to 34.9percent of the surveyed firms.
Over 60 percent complainedabout increasing salary for local employees and difficulties in procurement ofraw materials and parts locally.
The rate of applying FreeTrade Agreement (FTA) and Economic Partnership Agreement (EPA) amongJapanese firms in Vietnam reaches 47.2 percent, up 2.2 percentage points fromthe previous year.-VNA
Authorities of Hanoi will create the most favourable conditions for foreign enterprises, including those from Japan, to expand investment, said Chairman of the municipal People’s Committee Nguyen Duc Chung.
Prime Minister Nguyen Xuan Phuc has lauded the Japan External Trade Organisation’s (JETRO) coordination with Vietnamese agencies to prepare for a programme to call for Japanese investment in Vietnam in the first half of 2017.
Laos has become more attractive to Japanese investors as they are moving manufacturing facilities to the country to take advantage of its political stability.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Vietnamese firms talk with Japanese firms (Source: VNA) 
