Expectations for a new wave of investment from Japan.

Networking event

On September 19, 2018, Nghe An province, in collaboration with the ASEAN-Japan Center, organized a conference on "Investment Environment in Nghe An, a coastal province in North Central Vietnam" in Tokyo, Japan. This event marked the beginning of a working visit to Japan by a high-level delegation from Nghe An province, led by Mr. Nguyen Dac Vinh, Member of the Central Committee of the Communist Party of Vietnam, Secretary of the Provincial Party Committee, and Head of the Provincial National Assembly Delegation. The conference aimed to provide the latest information on the socio-economic situation, human resources, and infrastructure of Nghe An province; promote the investment and business environment and encourage Japanese businesses to invest in Nghe An; and answer questions of concern to the Japanese business community when investing and doing business in Nghe An province.

The conference was attended by Mr. Nguyen Quoc Cuong - Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam, Mr. Masataka Fujita, Secretary General of the ASEAN-Japan Centre (AJC), and more than 130 Japanese business representatives interested in the investment and business environment in Nghe An province. Among them, many investors are partners of infrastructure investors in Nghe An province, including VSIP Nghe An Co., Ltd., WHA Hemaraj Nghe An Joint Stock Company, and Hoang Thinh Dat Joint Stock Company.

In addition, the conference was attended by representatives from banks, non-governmental organizations that play an important role in providing financial advice to Japanese investors, international investment and trade promotion organizations, investors and businesses from both countries, and journalists from Vietnam and Japan...

Delegates attending the investment promotion conference for Nghe An province, held in Tokyo, Japan, on the afternoon of September 19th. Photo: Tran Min

At the conference, Japanese businesses raised nearly 20 questions regarding the investment and business environment in Nghe An, such as: Policies for investment in the textile and garment and shrimp farming sectors; the availability of transportation, electricity, and water services for investors; trade between Chinese and Lao businesses in Nghe An and vice versa; import taxes on machinery and equipment for initial fixed asset creation for Japanese investors in Nghe An; livestock industry planning in Nghe An province, orientation for attracting agricultural investment (livestock farming, stevia cultivation); and support for training Japanese workers in Nghe An... These questions demonstrate the interest of Japanese investors in the investment and business environment in Nghe An.

The conference was divided into three sessions: Session 1 provided an overview of the investment and business environment, the orientation for attracting Japanese investment to Nghe An province; the advantages of investing in industrial parks with already developed infrastructure in Nghe An province compared to other industrial parks nationwide; Session 2 was a Q&A session between Japanese businesses and leaders of Nghe An province; and Session 3 was an investment networking session.

Ambassador Nguyen Quoc Cuong stated that the event was significant and further strengthened the strategic partnership between Vietnam and Japan, contributing to connecting trade and investment between Vietnamese localities such as Nghe An province. Mr. Nguyen Dac Vinh, Member of the Central Committee of the Communist Party of Vietnam, Secretary of the Provincial Party Committee, and Head of the National Assembly Delegation of Nghe An province, also highly appreciated the quality and effectiveness of investments by Japanese investors. He further called on Japanese investors to consider investing in projects where Japan has strengths in Nghe An, contributing to consolidating the long-standing relationship between Nghe An province and Japan, established since the Dong Du movement.

Nghe An province organized seminars to promote investment, tourism, and trade in Japan. (Photo: Archival image)

On the part of businesses investing in and developing infrastructure, Ms. Keiko Fujita, Chief Representative of VSIP Group in Japan, Ms. Anchalee Prasertchand, Director of Customer Development for Industrial Plants and International Markets, Hemaraj Group, and Mr. Hoang Van Duong - Chairman and CEO of Hoang Thinh Dat Joint Stock Company, provided an overview of VSIP Nghe An, Hemaraj WHA Nghe An, and Hoang Mai 1 industrial parks; the competitiveness of these industrial parks in attracting investment compared to other industrial parks with already developed infrastructure in Vietnam, and the preferential policies and support for investment in industrial parks in Nghe An...

Positive signal

Through this conference, Nghe An province had the opportunity to connect with many Japanese businesses to introduce an overview of the province's potential and strengths in attracting investment, as well as its orientation for attracting Japanese investment. Nghe An province highly appreciates the quality of investment projects implemented by Japanese investors in the area; however, the number is still modest compared to the potential and needs of both sides.

The leaders of Nghe An province believe that this conference is the starting point for investment and business networking activities between Nghe An province and the Japanese business community. Nghe An province will continue to cooperate with the ASEAN-Japan Center to connect and attract Japanese businesses to participate in conferences, as well as encourage member businesses of the Center to research and explore the investment environment in Nghe An province.

Currently, Nghe An province has 8 Japanese FDI projects with a total investment of 94.15 million USD. Notable examples include several large factories such as: the Yabashi White Stone Processing Plant of Yabashi Vietnam Limestone Mining Company (a joint venture between Nghe An Mineral Corporation and YABASHI, MEIWA Company) located in Block 11, Quy Hop town, Quy Hop district, Nghe An province, with a total investment of 4.51 million USD; and the export garment factory of MLB Tenergy Co., Ltd. in Yen Thanh town industrial cluster, Yen Thanh district, with an investment of 20 million USD...

Production models based on Japanese technology (2 photos above). *Manufactured by MLB TENERGY Co., Ltd. Japan. *ISVRP organization donated the Hamakaze vessel to Nghe An province. (Photo: Archival image)

The ASEAN-Japan Centre for Trade, Investment and Tourism Promotion (ASEAN-Japan Centre - AJC) is an intergovernmental organization established in 1981 by ASEAN member countries and Japan. Comprising 10 ASEAN countries and Japan, its mission is to promote exports from ASEAN member countries to Japan, as well as to facilitate investment, tourism, and cultural exchange through conferences, working sessions, research programs, policy analysis, cultural exchange events, information services, and media publications.

In the field of investment promotion, AJC is a long-standing partner of VSIP Group in coordinating investment promotion conferences for Japanese businesses investing in VSIP Group's industrial parks in Vietnam and other countries. Currently, AJC has 13,000 member businesses investing in various sectors: automobile manufacturing and assembly, electronic components, high-tech agriculture, garment manufacturing, precision mechanics, etc.