VN proves attraction to Japanese businesses

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VietnamPlus English - 35 month(s) ago 5 readings

Vietnam proved is among a list of top investing destinations for Japanese businesses in 2011, receiving a total investment of 1.84 billion USD.



According to the Japan External Trade Organisation (JETRO), over the past year, the number of Japanese-funded projects receiving approval in Vietnam reached 208, up 82 percent over 2010.

The production and manufacturing sector attracted 54 percent of the total projects, mostly on manufacturing construction machines, automobile spare parts and electronic components. Trade and service businesses contributed 15 percent of the projects, with one of the highlights being Japanese top retailer Ministop.

JETRO said Vietnam was also attractive to regional businesses. Investors from the Republic of Korea - funded had 270 projects licensed in 2010, up five percent compared with 2010. Singapore businesses also showed their interest in the country with 105 projects, up 19 percent.

Low labour cost andstrategic location beside the huge market of China were among the most attractive points of Vietnam to international investors./.

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