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Vietnam attracting Japanese investments to new areas

HANOI, twentieth March, 2023 (WAM) – Vietnam is attracting extra Japanese investments to digital transformation and inexperienced progress, as beneficial within the Vietnam-Japan Joint Initiative (VJI), the state news company (VNA) reported.

Phase VIII of the initiative, launched in 2003, concluded in March 2023, underneath which 497 out of the 597 objects have been accomplished.

To promote its position, the Vietnamese Ministry of Planning and Investment proposed constructing a cooperation programme between small and medium-sized enterprises (SMEs) of the 2 nations, specializing in digital transformation, help business and personnel coaching.

Japanese SMEs have capability, expertise and high-tech, and Vietnamese companies have plentiful human assets, which is reciprocal throughout their improvement cooperation.

According to a survey carried out by the Japan External Trade Organisation (JETRO) in 2022, 60% of Japanese companies mentioned they plan to develop operations in Vietnam, the best in Southeast Asia.

With the intention of becoming a member of the group of upper-middle-income nations by 2030, Vietnam has paid consideration to scientific-technological utility, innovation, digital transformation, inexperienced transition, inexperienced economic system, digital economic system, round economic system and knowledge-based economic system.

The nation, subsequently, is encouraging Japanese enterprises to step up funding in infrastructure, power, manufacturing, high-tech agriculture, IT, sensible city improvement, monetary companies, banking and innovation.

The Vietnamese Government has dedicated to supporting companies, contributing to advancing the Vietnam-Japan relationship to a brand new peak.

Currently, Japan is operating greater than 5,000 legitimate tasks in Vietnam with a complete funding capital of over US$69 billion, rating third among the many 141 nations and territories investing within the Southeast Asian nation.

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