As many as 50% of Japanese companies say they face difficulties related to investment procedures when doing business in Vietnam, said Atsusuke Kawada, the chief representative of Japan External Trade Organisation (JETRO) in Hanoi.
Speaking at a ceremony on November 21 for the launch of Japan Desk service, which aims to support Japanese firms operating in Vietnam, Mr. Kawada said that many Japanese companies still complain about complicated administrative and taxation procedures in Vietnam.
The ceremony to launch Japan Desk service.
He added that the number of views on JETRO’s website reflected the fact that Vietnam is ranked second among ASEAN countries, after Thailand, in terms interest in investment for Japanese companies. Nearly 70% of Japanese firms who are doing business in Vietnam plan to expand their operation scale in the next 1-2 years.
According to Kawada, Vietnam boasts advantages of cheap labour, about half that of China and Thailand. Meanwhile, Vietnam’s production costs are relatively low. However, Vietnam stands behind Thailand in terms of legal transparency, infrastructure and support industries.
Do Nhat Hoang, head of the Foreign Investment Agency under the Ministry of Planning and Investment, said Japan is the second largest foreign investor in Vietnam and the biggest ODA provider.
A number of Vietnamese agencies have been cooperating with Japanese partners to make procedures easier for Japanese companies in Vietnam, but progress remains slow.
Hoang hopes that the operation of Japan Desk will help to improve the situation.
According to the Foreign Investment Agency Japan currently has 2,434 projects in the country, accounting for a total of USD36.5 billion in investment
Đăng ký: VietNam News
