Quang Ninh province eyes more Japanese investment

The northern province of Quang Ninh is willing to hold open discussions with Japanese enterprises and create all possible conditions for them in terms of administrative procedures, land clearance, and human resources, Secretary of the provincial Party Committee Nguyen Xuan Ky has affirmed.

Addressing a conference to promote Japanese investment in Quang Ninh, held in both online and in-person forms on December 17, Ky said that Quang Ninh prioritises attracting investment in the fields that it has outstanding competitive advantages and distinct potential such as modern general services, processing, manufacturing, high technology, marine economy, logistics, seaports and seaport services, ecological agriculture, and renewable energy.

Deputy Minister of Planning and Investment Tran Quoc Phuong stated that the relationship between Vietnam and Japan is in the best-ever stage of development and Japan has always had an extremely important position on the basis of the Vietnam-Japan Extensive Strategic Partnership for Peace and Prosperity in Asia.

The Ministry of Planning and Investment welcomes Japanese businesses to invest in Vietnam in general and Quang Ninh in particular, especially in the fields that the two sides have potential for cooperation such as healthcare, education and training, infrastructure, energy, oil and gas, digital transformation, environment, trade and hi-tech agriculture.

The ministry commits to joining other ministries, sectors and localities, including Quang Ninh province, to accompany Japanese investors, and cooperate with each other to overcome challenges, take advantage of new opportunities, promote investment, and develop a win-win sustainable economic cooperation, Phuong added.

Japanese Ambassador to Vietnam Yamada Taikio highly evaluated Quang Ninh province's completed infrastructures such as an expressway connecting Van Don international airport with Hanoi and Hai Phong.

Although the number of Japanese enterprises in Quang Ninh remains modest, many are interested in investing in the province, he said. Therefore, he expected Quang Ninh to devise a plan to train human resources who know Japanese and proposed establishing a Japanese language department at Ha Long University.

Takeo Nakajima, Chief Representative of the Japan External Trade Organization (JETRO) in Hanoi, cited a survey conducted by JETRO in August and September 2021 as saying that since 2015, Japanese enterprises have shown more interest in investing in Vietnam than in other countries.

Japanese businesses have pinned high hopes on Vietnam’s development and appreciated the qualifications of the Vietnamese workforce, he added.

At present, Japan is Vietnam’s second biggest investor with 4,792 projects and combined registered capital of 64.2 billion USD, and its fourth largest trade partner with two-way trade reaching 40 billion USD last year.

At the conference, Amata Ha Long Urban JSC signed two memoranda of understanding on cooperation with two Japanese partners, namely KDDI Vietnam Group and Marubeni Group.