21/05/2015 15:21 GMT+7 Email Print Like 0

Japanese investment in Vietnam tops 37.5 billion USD

Hanoi, May 21 (VNA) - Japanese investors have injected 37.5 billion USD into 2,619 valid projects in Vietnam as of the end of April.

Japanese funding accounted for 14.3 percent of the country's total foreign-invested projects, as well as 14.6 percent of the total foreign direct investment registered in the nation.

Latest statistics from the Ministry of Planning and Investment's Foreign Investment Agency (FIA) revealed that Japan ranked second among countries and territories investing in Vietnam during the reviewed period.

Further, up to 1,344 Japanese-invested projects, worth a combined 31.3 billion USD, were involved in the processing and manufacturing sector, making up 83.3 percent of all Japanese registered capital in this period.

In order to attract more Japanese investment capital, Vietnam should further assist Japanese businesses that are operating in the country, which is the most effective and practical investment promotion measure, FIA officials said.

Dang Xuan Quang, deputy head of FIA, said Vietnam remained an attractive destination for Japanese investors, as 60 percent of Japanese investors in the country remained profitable.

Additionally, Fuji Xerox President Tadahito Yamamoto said their factory in Vietnam remained one of the leading manufacturing facilities for Xerox throughout the world, reported vnexpress.net, a local online newspaper.

Investors were attracted to Vietnam because of low labour costs and the many government investment incentives for foreign investors, he said.
VNA/VNP