Vinh Phuc welcomes Japanese investors

Vinh Phuc, with its dynamic and creative tradition and breakthrough directions in socio-economic development, with a young population pyramid, abundant labor resources and a high rate of trained workers, is becoming a potential destination, attracting domestic and foreign investors, including investors from Japan.

In 2023, Vietnam and Japan will celebrate the 50th anniversary of the official establishment of diplomatic relations. Along with the development of the Comprehensive Strategic Partnership, in recent years, the cooperative relationship between Vinh Phuc and Japanese localities, organizations and enterprises has also developed rapidly, contributing to fostering the Vietnam - Japan friendship.

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With advantages in geographical location and investment incentives, Vinh Phuc is truly becoming a land of great potential in the eyes of Japanese investors. As of the end of July 2023, the province has 62 projects from Japan operating with a registered capital of 1.8 billion USD, including many large enterprises and corporations in the world such as Honda, Toyota, Nissin, Exedy, Sumitomo...

Japan is currently the second largest investor in terms of registered capital and number of projects. Investment projects of Japanese enterprises mainly focus on the manufacturing industry, automobile assembly, mechanics, molds, electronic components, etc. Japanese projects are implemented on schedule as committed and operate effectively, contributing positively to the state budget and creating jobs for workers. Most of the projects invested by Japan in Vinh Phuc are successful and have made great contributions to the socio-economic development of the province.

Deputy Prime Minister Tran Luu Quang, Minister of Industry and Trade Nguyen Hong Dien, Secretary of the Provincial Party Committee Hoang Thi Thuy Lan, Chairman of the Provincial People's Committee Le Duy Thanh and representatives of the leaders of Sojitz Group (Japan), Vinamik, and Vilico pressed the button to perform the groundbreaking ceremony for the Beef Breeding and Processing Project in Tam Dao District, Vinh Phuc Province.

Vinh Phuc also focuses on promoting the mobilization of Japanese ODA programs and projects, typically the Vinh Phuc Investment Environment Improvement Project, which helps solve a number of current problems such as lack of electricity, lack of clean water, drainage and wastewater treatment systems, and improving the transportation system, contributing to improving the province's investment environment.

In addition, the Japanese partner has also helped Vinh Phuc province complete the general urban planning project until 2030 and vision to 2050; planning to build the Vinh Phuc University Urban Area with an area of ​​2,000 hectares.

To welcome investors to Vinh Phuc, the province has planned a total of 50 industrial parks and clusters with a total area of ​​nearly 6,000 hectares, located along national highways with convenient transportation, of which 18 industrial parks have an area of ​​over 5,200 hectares and 32 industrial clusters have an area of ​​over 600 hectares. The province also always strives to improve the investment and business environment, enhance provincial competitiveness to create attractiveness and attract investment.

Mr. Yamada Takio, Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam, spoke at the meeting with leaders of Vinh Phuc province.

The province regularly focuses on improving the investment environment. In 2022, Vinh Phuc province achieved 68.91 points, ranking 8th in the Provincial Competitiveness Index (PCI). In the PCI component indexes, Vinh Phuc stands out in 4th place nationwide with the business support policy index.

Legal institutions, time costs and the dynamism of local government are rated highest by the business community in the Capital Region. In addition, Vinh Phuc's business environment is also highly appreciated for its transparency, health and fairness.

Vinh Phuc province always welcomes Japanese enterprises and investors to invest in Vinh Phuc, especially in areas where Japan has strengths such as: processing and manufacturing industry; supporting industry; high-tech agriculture; industries developed on the basis of 4.0 technology; innovation.

Exciting areas of cooperation

In addition to economic and investment cooperation, Vinh Phuc province always pays attention to activities to strengthen and expand friendly cooperative relations with Japanese localities. Up to now, the province has established cooperative relations with two Japanese localities, Akita province (2015) and Tochigi province (2021), focusing on cooperation activities in the economic field, attracting investment and promoting trade between the two sides.

Representatives of Vinh Phuc Department of Planning and Investment, Tochigi Department of Industry, Labor and Tourism and Sumitomo Corporation - investor of Thang Long Vinh Phuc Industrial Park signed an investment promotion cooperation agreement witnessed by Vinh Phuc Provincial Leaders and Tochigi Provincial Leaders.

Regarding cooperation in the field of labor export, the province's specialized agencies have also cooperated with a number of Japanese partners such as the Japan Regional Investment Association, the Central Association of Small and Medium Enterprises, and the Okayama Provincial Business Union to send workers and youth of the province to practice labor skills and work in Japan...

Culture is also a highlight in the cooperative relationship between Vinh Phuc province and Japanese partners. In recent years, Vinh Phuc has organized many cultural exchange activities, welcoming Japanese art troupes to perform such as the Nagano art troupe; people-to-people cultural exchange to celebrate the anniversary of the establishment of diplomatic relations between Vietnam and Japan; cherry blossom exhibition at Ho Chi Minh City square; Vinh Yen city and organizing the annual Japanese Labor Thanksgiving Day...

Signing ceremony of memorandum of understanding on investment promotion cooperation between Vinh Phuc Provincial People's Committee and Japan External Trade Organization (JETRO).

The events not only bring fresh air to local people but also contribute to promoting Japanese culture and people and strengthening friendship between the two countries.

With the attention of the Government, the support of ministries, branches and localities, the response of the business community and people of the two countries, the development cooperation relationship between Vietnam and Japan in general, Vinh Phuc province and Japanese localities in particular will increasingly develop.

Source: https://baoquocte.vn/vinh-phuc-chao-don-nha-dau-tu-nhat-ban-245390.html