Hanoi is ready to create the best conditions for Japanese businesses and investors.

Recently, in Tokyo, the Hanoi-Japan Investment and Trade Promotion Conference 2024 was held, organized by the Hanoi People’s Committee in coordination with the Vietnamese Embassy in Japan and the Japan External Trade Organization (JETRO).

The conference was attended by: Chairman of Hanoi People’s Committee Tran Sy Thanh; Vietnamese Ambassador to Japan Pham Quang Hieu; Vice President of Japan External Trade Organization (JETRO) Katsunori Nakazawa and nearly 200 Japanese and Hanoi enterprises and investors.

Important economic partner

Speaking at the conference, Chairman of the Hanoi People’s Committee Tran Sy Thanh said that Hanoi is very honored to organize this meaningful event in Japan, where Hanoi has had a strong friendship and cooperation relationship. The event is even more meaningful when it takes place in the first year of Vietnam and Japan implementing the “Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the world”, Japan has become an important economic partner of Vietnam and Vietnam has also become an important partner of Japan in Southeast Asia.

Hanoi is ready to create the best conditions for Japanese businesses and investors.

Over the years, the City has achieved many outstanding achievements in socio-economic development and attracting foreign investment, including the important contribution of Japan as a leading strategic partner, the largest ODA provider, and the largest foreign investor in the City.

Accumulated to the end of September 2024, Hanoi attracted about 14.058 billion USD of FDI capital from Japanese investors, of which: 1,706 new projects are still in effect with a total registered capital of 9.55 billion USD; 581 projects increased capital with an additional registered capital of about 2.96 billion USD; 794 capital contributions and share purchases with a contributed capital of about 1.55 billion USD. The main investment areas of Japanese investors include: real estate business; manufacturing and processing industry; education and training; wholesale and retail, automobile, motorcycle and motorbike repair.

In the first 9 months of 2024 alone, the City attracted about 332.12 million USD of FDI capital from Japan, including: 43 newly licensed projects with a total registered capital of 117.82 million USD; 33 projects increased capital with an additional registered capital of about 135.83 million USD; 24 capital contributions and share purchases with a capital contribution value of about 78.46 million USD.

Japanese investment projects have contributed significantly to socio-economic development, improving infrastructure and enhancing the quality of life of Hanoi people.

Japan is a leading strategic partner, the largest ODA provider, and the largest foreign investor in Hanoi.

In addition to investment cooperation, trade cooperation between Hanoi and Japan has also been increasingly flourishing on the basis of implementing free trade agreements between Vietnam and Japan such as: Vietnam-Japan Economic Partnership Agreement (VJEPA); Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)… Free trade agreements have created very favorable conditions for tariffs and two-way trade. Up to now, Hanoi-Japan import-export turnover accounts for about 10% of the total import-export turnover of Hanoi city.

In addition to the investment and trade fields, Hanoi and Japanese localities and organizations have also implemented many effective cooperation activities in culture, arts, tourism, education, environmental protection, healthcare, information technology, etc.

Promoting trade and investment cooperation

According to Mr. Tran Sy Thanh, Chairman of Hanoi People’s Committee, in the context of the Vietnam-Japan relationship in general and Hanoi-Japan relationship in particular continuing to be strengthened and developed, Hanoi considers this a good opportunity to further strengthen promotion activities and connections with Japanese organizations, businesses and investors.

With the commitment to continuously improve the investment environment, enhance the quality of infrastructure and promote administrative reform, Hanoi will continue to be an attractive destination for international investors. Hanoi always attaches importance to and is ready to create the best conditions for Japanese enterprises and investors interested in investing and doing business in the city.

Hanoi always attaches importance to and is ready to create the best conditions for Japanese enterprises and investors interested in investing and doing business in the city.
Chairman of Hanoi People’s Committee Tran Sy Thanh

Sharing the same view, Vietnamese Ambassador to Japan Pham Quang Hieu said that, based on the friendly relationship between the two countries, Japan is currently a major investment and trade partner of Vietnam, in which Hanoi is one of the localities attracting many investment and trade activities from Japan in many diverse fields and industries.

According to Ambassador Pham Quang Hieu, Hanoi has always strived to maintain macroeconomic stability, control inflation, promote growth, ensure major balances for the economy; constantly improve the investment and business environment towards harmonizing interests, strictly complying with international integration commitments and meeting good international practices in encouraging and protecting investors’ interests.

Ambassador Pham Quang Hieu hopes that, through the Conference, in addition to grasping and updating information about Hanoi city, this is also an opportunity for Japanese enterprises to directly contact and exchange with city leaders and businesses, together creating effective and practical cooperative relationships in the future.

On the side of Japanese business and investor representatives, JETRO Vice President Katsunori Nakazawa believes that this will be an opportunity for leaders of Hanoi and Japan to conduct practical exchanges, thereby further promoting trade and investment between the two sides.

Also within the framework of the Conference, Mr. Tran Dac Trung, Deputy Head of Lang-Hoa Lac High-Tech Park introduced the potential and advantages of Lang-Hoa Lac High-Tech Park. Accordingly, Lang-Hoa Lac High-Tech Park is one of the particularly important projects in the cooperative relationship between Vietnam and Japan.

Hanoi City has been paying special attention to the development of Lang-Hoa Lac High-Tech Park, expected to be a central area of the western urban area of Hanoi, a new development pole using science and technology and human resource training as the driving force for socio-economic development of the capital in particular and the whole country in general.

Currently, there are a number of large organizations and enterprises in Japan investing in this location such as: Nissan Group, Nidec Group, Vietnam-Japan University… Mr. Tran Dac Trung hopes that in the future, there will be more Japanese enterprises continuing to invest in Lang-Hoa Lac High-Tech Park.

nhandan.vn