Business

Japan - largest investor in Ho Chi Minh City

SGGP
The Ho Chi Minh City Export Processing Zones and Industrial Parks Authority (Hepza) yesterday said that Japan is presently the largest investor in the city.

Vietnamese workers at a Japanese -invested company (Photo: SGGP)

Vietnamese workers at a Japanese -invested company (Photo: SGGP)

From the beginning of the year, Japanese investors poured registered capital of nearly US$9 million in the city accounting for 82,39 percent of the city’s total foreign capital.
Most foreign investors poured money into mechanics with $3.84 million, followed by electronics, services, chemicals, plastic, textiles and other fields.
In regard to the matter, the Japan External Trade Organization said that in June, 30 Japanese firms have expanded their production in the Southeast Asian country.
According to the latest survey of nearly 10,000 Japanese enterprises, 41 percent of them have been considering its operation expansion in Vietnam in the next three months.
They explained that because of escalating tensions between the US and China plus Covid-19 crisis, many supply chains for Japan’s supporting industry have been broken; therefore, Japanese government has assisted Japanese enterprises to move investment to other Asian countries as well as shrink its investment in China and Vietnam is a prominent country with good business environment and good pandemic control.

By Minh Xuan - Translated by Dan Thuy

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