A view of Ho Chi Minh City from above (Photo: VNA)

HCMCity (VNA) - Ho Chi Minh City is an attractive investmentdestination for Japanese businesses thanks to its both development potential and mechanismto accompany and support investors, heard a seminar held by the Investment & Trade Promotion Centre of HCMCity (ITPC) and the Japanese Business Association of Ho Chi Minh City (JCCH) on November 30.

Dao Minh Chanh, Vice Director of the municipal Department ofPlanning and Investment, said the JCCH and Japanese investors have made greatcontributions to HCM City’s socio-economic development, and joined hands with municipal authorities to overcome severe effects of the COVID-19 pandemic over the last two years. 

👍 Municipal authorities have taken measures to speed up administrativereform in order to create a more open and favourable investment environment forinvestors who choose the southern hub for their projects, Chanh said. 

Japanese Consul General in HCM City Watanabe Nobuhiro speaks at the seminar (Photo: VNA) 

Japanese Consul General in HCM City Watanabe Nobuhiro said Vietnamis a destination that Japanese businesses are interested in thanks to its rapiddevelopment and efforts to diversify supply chain.

As an economic centre of Vietnam, HCM City boasts greatpotential to attract investment in the coming time, he said, adding that the Japanesebusiness community highly values municipal authorities for efforts to promptlysolve arising problems facing businesses and investors.

Before the seminar, Japanese businesses proposed 23 issuesrelated to the environmental and life, law and labour, tax and customs.

Vice Chairman of the municipal People’s Committee Vo Van Hoansaid he hopes the Japanese business community will continue to shareand contribute ideas on the areas that they are interested in the near future,and support local enterprises in seeking investment opportunities in Japan.

HCM City always leads localities nationwide in the number of foreigndirect investment (FDI) projects, especially in areas of real estate business,processing and manufacturing industry, education and training.

💮 As of November, the city was home to 1,568 projects invested byJapanese firms with a total capital of 5.5 billion VND. Japan is the thirdbiggest foreign investor among the 117 countries and territories investing directlyin the city, mainly in processing, manufacturing, wholesale and retail industries;automobile and motorbike repairing; science and technology, and construction./.