Localities in southern Vietnam remain attractive destinations for Japanese investors thanks to the completion of infrastructure systems and the improvement of the business environment.
Recently, many Japanese companies, such as Nitto Denko Corporation, Yuwa Co. Ltd., SKM Vietnam Co. Ltd., and AEON Co., Ltd., have received licenses to expand their factories in Binh Duong province with a total investment of 168 million USD.
At the same time, Matsuya R&D Vietnam Co., Ltd., specializing in the production of medical equipment, has also launched its sixth factory in Dong Nai.
Today, Binh Duong, the southern industrial hub, is one of the favorite destinations for Japanese investors, who have invested almost US$6 billion in 350 projects in the town, making Japan the second largest foreign investor in the province.
Mai Hung Dung, Vice Chairman of the Binh Duong People’s Committee, stated that the town defines Japan as its strategic investor, which is why it has implemented various measures to attract more Japanese investors.
Meanwhile, Dong Nai hosts 272 Japanese investment projects with a combined capital of $5.59 billion. Japan ranks third among foreign investors in the province in terms of number of projects and capital.
Another favorite southern location for Japanese investors is Long An, where 138 Japanese investment projects worth US$767 million operate, making Long An the main center for Japanese projects in the Mekong Delta region.
Today, Binh Duong, the southern industrial hub, is one of the favorite destinations for Japanese investors, who have invested almost US$6 billion in 350 projects in the town, making Japan the second largest foreign investor in the province
Since the beginning of 2023, a series of interregional infrastructure projects have been launched in the southern region, which is the main factor making the region a magnet for foreign investors.
The Belt Road No.3 project, with a length of 76.3 km, passing through four towns of Ho Chi Minh, Binh Duong, Dong Nai and Long An, began in June. Construction of the Bien Hoa-Vung Tau expressway project and the Phuoc An Bridge connecting Cai Mep-Thi Vai port have also been launched, along with the widening and connections of many national highways.
In addition, many industrial parks in the key southern economic region have been expanded to create land funds for investors.
The reform of administrative procedures in many localities has also made foreign investors more confident in southern localities.
Experts say that with the elimination of bottlenecks in infrastructure and the investment environment, southern provinces and cities will attract a strong wave of investment not only from Japan, but also from Western Europe and North America.
Article republished from the Vietnamese state media VNA within the framework of an agreement between both parties to share content. Link to the original article:https://en.vietnamplus.vn/southern-localities-a-magnet-for-japanese-investors/268647.vnp
Vietnam News Agency (VNA) is a state news organization that publishes, disseminates official information, and collects and provides news through various forms of multimedia content for domestic and foreign media agencies.
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Source: https://reporteasia.com/economia/industria/2023/10/01/localidades-sur-vietnam-iman-inversores-japoneses/
