"Invest with confidence in Nghe An."
(Baonghean)During the survey and investment promotion trip to Nghe An province (from June 24 to 26) by the Japan Trade and Investment Promotion Agency (JETRO), a reporter from Nghe An Newspaper interviewed Mr. Hirokaza-Yamaoka, Chief Representative of JETRO in Vietnam.
Reporter:Mr. Hirokaza-Yamaoka, after conducting field research on investment opportunities in Nghe An, what are your impressions of the province?
Mr. Hirokaza-Yamaoka:Until now, the Japanese in general, and Japanese businesses in particular, have only known Nghe An as the birthplace of President Ho Chi Minh and Phan Boi Chau, and for some aspects of its culture and people. Many businesses are unaware of the investment and economic development potential here.
This is my second visit to Nghe An. The first was in early 2012, when we only attended the province's investment promotion conference. This time, however, we focused on thoroughly understanding the investment opportunities and the factors that ensure long-term business investment. Through this trip, we gained a better understanding of the province's investment incentive mechanisms, as well as its potential advantages in human resources, natural resources, minerals, and the many development possibilities given Nghe An's location on the Trans-Asian Highway.
Mr. Yamaka (second from the right) giving an interview. Photo: Sy Minh
Reporter:In your assessment, what direction should Japanese businesses take when investing in Nghe An province?
Mr. Hirokaza-Yamaoka:With the Vietnamese government's major development plan for the South Thanh Hoa and North Nghe An regions, and the commencement of construction of the Nghi Son oil refinery, I believe Nghe An province has many advantages for investing in supporting industries near this area. Furthermore, if the province uses Vinh City as its center, expanding its sphere of influence within approximately one hour's travel to strongly develop processing industries, services, and tourism is a positive direction.
In recent years, Japan has been actively promoting its investment policy in China and Thailand + 1 (selecting additional countries near these two nations for investment). This is being realized in Vietnam, where the investment environment is favorable, the quality of human resources meets requirements, and labor costs are not yet high. To date, there are over 2000 projects by Japanese businesses operating in Vietnam, with 317 projects launched in 2012 alone.
Japanese businesses, when investing anywhere, are concerned with two basic criteria: firstly, the investment must be profitable; secondly, the business operations must ensure a decent standard of living in terms of both income and enjoyment. Through our research, we found that Nghe An is considered one of the attractive destinations for Japanese businesses. For a long time, Japanese businesses mainly focused their investments in Ho Chi Minh City, Hanoi, Hai Phong, and Da Nang. Currently, they are shifting their investments to the central provinces, especially Nghi Son, where the petrochemical refinery project is attracting a large workforce and creating a ripple effect in investment. Therefore, Japanese businesses can significantly increase investment in Nghe An in the fields of mechanical engineering, electronics assembly, automation, processing, and garment manufacturing.
Reporter:What message did he convey to Japanese businesses after this trip?
Mr. Hirokaza-Yamaoka:This time, information about investment opportunities in Nghe An has been thoroughly researched, the local government is very interested in this work, the opportunities are clear, and Nghe An has also appointed a permanent agency to regularly coordinate and exchange information on investment with us. Therefore, with its functions, JETRO will strengthen its efforts to encourage and support Japanese businesses to invest in Nghe An. The positive message we will convey to Japanese businesses is to feel confident investing in Nghe An. Examples include successful businesses such as the MLB export garment factory in Yen Thanh, the Yabashi white limestone quarry, the Hoang Mai Industrial Park infrastructure business, and the Kobelco sponge iron production project. Besides our efforts, such models have a significant impact on promoting investment – they are reliable ambassadors for investment promotion in Nghe An.
Reporter:Thank you very much, sir!
NGUYEN SON (Editor)
