Prospects for attracting investment from Japan

(Baonghean) - From October 15 to 21, 2013, the delegation of Nghe An province led by Mr. Nguyen Xuan Duong - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee went to Japan to promote diplomatic relations and organize investment promotion seminars. The trip with a tight schedule brought with it hopes and beliefs about growth in attracting investment from Japan to Nghe An.

Comrade Nguyen Xuan Duong met and worked with Japanese enterprises in Shizuoka province. Photo: Van Truong (Provincial People's Committee)

Although Japan and Nghe An are geographically far apart, 100 years ago, Phan Boi Chau - a revolutionary from Nghe An, with his belief in the land of the rising sun, also came to Shizuoka province to develop the Dong Du movement to save the country. Over time, that historical mark has further enhanced the affection and relationship between the two provinces of Nghe An (Vietnam) - Shizuoka (Japan) as both wished for comprehensive cooperation and a close friendship.

Japan - a country admired by the world for its will, bushido spirit, and efforts to overcome difficulties, challenges, and natural disasters. After 40 years of establishing diplomatic relations between Japan and Vietnam, Japan has emerged as the country with the most effective investment in Vietnam with high-tech projects and advanced science and technology. Currently, many large Japanese corporations and groups are doing business in Vietnam such as: Fujitsu computer company, electronics and refrigeration: Canon, Sony, Sanyo, Matsushita, Sumitomo; automobiles and motorbikes: Honda, Toyota, Suzuki, Mitshubishi... Joint ventures or doing business with Japan, Vietnam also receives training and development of its workforce, learns management experience, and projects, works, and factories invested by Japanese corporations in Vietnam always exist sustainably, with few problems to worry about or solve.

Therefore, for Vietnam: attracting investment from Japan is a strategic and top priority direction. For Nghe An, after the projects attracting investment in the province, the white stone processing project in Quy Hop, the garment project in Yen Thanh, the infrastructure investment project of Hoang Mai Industrial Park, especially important ODA capital projects such as the renovation of the Northern irrigation system, calling for the Dong Hoi Port Breakwater project...

Comrade Huynh Thanh Dien - Vice Chairman of the Provincial People's Committee, Deputy Head of the Provincial Working Group to Japan, has just returned and excitedly said: This time our province's visit to Japan has a focus and key points. The delegation has worked with investors, investment organizations, and units that "have intentions" for us. Our province has introduced its potential and strengths to Japanese enterprises. The province has organized a seminar to promote investment in Nghe An in Tokyo. On the afternoon of October 21, the delegation visited and worked with the Mayor of Mishima City (Shizuoka Prefecture) and continued to meet and discuss with investors in Mishima City.

Attending the meeting were representatives of nearly 40 enterprises in the fields of manufacturing, processing high-tech agricultural products, electronics, industry... The delegation introduced in detail the investment environment in Nghe An, mechanisms and preferential policies for investment in Nghe An, the Southeast Economic Zone, industrial parks in general and Hoang Mai and Dong Hoi Industrial Parks in particular, and respectfully invited enterprises to Nghe An to survey the investment environment as soon as possible. The trip also strengthened relations and cooperation with Japanese officials so that they can later solve problems in attracting investment and allocating ODA capital. The Japanese side is very enthusiastic, open and supportive of Nghe An. When researching investment, the Japanese do thorough research so there are no immediate results, but once they come in, it is certain and effective."

After accompanying the Chairman of Nghe An Provincial People's Committee to meet and promote investment with Japanese partners, Mr. Tran Dang Doanh - Chairman of the Board of Directors and General Director of VIP Vietnam Co., Ltd. happily confided: “The trip to Japan was very successful. In particular, I was most impressed by the call for investment in the seminar in Tokyo, which was planned to have only 50 companies attend, but in fact, 85 Japanese companies came. Our company also acted as a bridge to help the provincial leadership delegation meet with the Japanese Foreign Minister and Japanese senators - those who have an important voice in ODA capital for the province. Our company also acted as a bridge to bring the delegation to Shizuoka province and establish a sisterhood with this province, where Phan Boi Chau used to come. The two provinces have promoted the opening of a Vinh - Shizuoka flight route and vice versa.

For Hoang Mai Industrial Park Investment Joint Stock Company, we have invested 30 million USD in Hoang Mai Industrial Park, so we must attract projects here, especially from Japan. We, together with the provincial leaders, went to work with Japan International Paper Company to call for investment and production of paper products in Hoang Mai Industrial Park, Dong Hoi. Chairman of the Board of Directors, General Director of Japan International Paper Company - Mr. Madoka Tanabe received us. He expressed his confidence when the provincial leaders visited and made initial commitments on investment in Nghe An. Through VIP Vietnam Company, Japan International Paper Company affirmed that it will study the potential and strengths of Nghe An related to paper to make decisions that benefit both sides. The delegation also worked with Aozora Bank - one of the largest banks in Japan, sponsoring overseas investors in 21 countries around the world.

In Vietnam, Azora Bank has established Vietnam International Financial Leasing Company Limited in Ho Chi Minh City. Mr. Seiji Furuga - General Director of the bank was also very happy to meet the delegation, expressing more confidence in researching and consulting on investment for businesses going abroad. The delegation also worked with many other businesses such as FBT Company, DAC Group of Japan to enhance understanding of Nghe An. Our VIP Vietnam Company Limited is a subsidiary of Japan and is also promoting the Japanese Kobelco steel project. Therefore, the trip is very meaningful".

According to Mr. Nguyen Van Truong - Deputy Head of the Investment and Construction Department of the Provincial People's Committee - a member of the delegation, the most successful day was on October 18, when the delegation had a meeting with Senator Yoshikawa Takeru, who is also the ODA project manager. At the meeting, the Senator promised to pay attention to Nghe An's proposals on ODA projects, especially enthusiastically supporting the twinning between Nghe An and Shizuoka provinces. On the same day, October 18, the delegation met with Japanese Foreign Minister Fumio Kishida. At this meeting, Chairman of the Provincial People's Committee Nguyen Xuan Duong expressed his wish that the Japanese Foreign Minister would pay special attention to President Ho Chi Minh's homeland, have a voice in the Government when prioritizing support for Nghe An on ODA projects such as the Dong Hoi Port breakwater, and introduce Japanese enterprises to Nghe An.

During the 1 week in Japan, with nearly 20 meetings and working sessions, including very important and unexpectedly successful meetings, the Nghe An provincial leadership delegation has had more friendly, friendly, open relationships and received meaningful messages in attracting Japanese investment to the homeland of President Ho Chi Minh. The proactive approach to partners in attracting investment, choosing the focus and key points, along with making the most of the relationships that have been built in the history of the two countries, along with careful preparation are conditions that promise success in attracting investment from Japan to Nghe An in the coming time.

Chau Lan