Hanoi (VNA) – The Hanoi People’sCommittee organised a conference to promote investment and tourism cooperation withJapan in the capital city on March 29.
According to Vice Chairman of the HanoiPeople’s Committee Nguyen Doan Toan, Japan’s foreign direct investment (FDI) inthe city exceeds 10 billion USD, accounting for 25.5 percent of its total FDI value.
Japanese-funded projects, like Nhat Tan-Noi Bairoad, Nhat Tan Bridge, and the building of a smart-city area, have played animportant role in the capital’s growth. Meanwhile, as Hanoi’s third biggesttourism partner, Japan had 303,000 tourists visiting the city last year.
Director of the municipal Department of Planningand Investment Nguyen Manh Quyen said Japanese firms have been investing invarious projects with effective operations in the city.
Hironobu Kitagawa, a representative from the JapanExternal Trade Organisation (JETRO), informed the conference that the fund channelledinto the Hanoi smart city project was the biggest among the top-ten worksinvested in by Japan in Vietnam last year.
He said that the estimated proportion ofJapanese firms making profits in Vietnam reached 65.3 percent in 2018, praisingthe strengths of the local business climate such as high growth, stablepolitical-social conditions, and low labour costs.
A number of the Hanoi market’s shortcomingswere also mentioned at the conference, including the incomplete legal system,complex tax-related procedures, and difficulties in purchasing domesticmaterials and spare parts.
Toan stated that the capital city is committedto stepping up administrative reform with people and enterprises as the centre.
Local authorities are willing to listen to feedbackand proposals from the business communities in Vietnam and abroad to better theinvestment environment, he added.
As part of the conference, a discussion withJapanese firms operating in Hanoi and a signing ceremony of memoranda of understandingon trade, investment, and tourism cooperation were held between the city’spublic agencies and enterprises alongside their Japanese peers.–VNA
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At the event (Photo: kinhtedothi.vn) 
