Khanh Hoa (VNA)♔– The south central province of Khanh Hoa has so far attracted six Japanese projectsworth over 2.65 billion USD, or nearly 70% of the total foreign direct investmentin the locality, heard the Khanh Hoa – Japan investment promotion conferenceheld in Nha Trang city on October 7.

The event was part of activitiesto celebrate the 50th anniversary of Vietnam-Japan diplomatic tiesand materialise the local investment promotion scheme 2023. Speaking at the event,Deputy Foreign Minister Ha Kim Ngoc said amid complicated anduncertain developments in the world, Vietnam and Japan continue sharing manystrategic interests. He also described Japan as one of the topstrategic partners and the three largest foreign investors in Vietnam with over4,800 projects valued at more than 64 billion USD. Chairman of the provincial People’s CommitteeNguyen Tan Tuan said Khanh Hoa province will focus its investments on threemain pillars, which include high-quality services such astourism, finance, trade, logistics, education, and urban development; processingand manufacturing, energy, information technology and telecommunications; and large-scaleagriculture with the use of advanced and digital technology in tandem withprocessing and consumption via value chain in order to improve competitivenessand global integration. Cam Ranh Bay, Nha Trang city and Van PhongBay will be its major growth drivers, he said. The event introduced the developmentorientation of Khanh Hoa from now until 2030, with a vision to 2045, specificdevelopment policies, the approved planning and current operations of the Japanesecompanies in the province. The provincial authorities hoped that the Japaneseinvestors will show interest in local industrial parks, industrial clusters,sectors and projects in need of investment. They vowed to work more closely withthe Japanese firms to boost consumption and cultural exchanges between the twosides. They also committed to continuingadministrative reforms, improving business environment, and the ProvincialCompetitiveness Index (PCI) to provide the best possible conditions for Japaneseinvestors to do business successfully in the future. At the event, a memorandum of understandingon cooperation was signed between the Ministry of Planning and Investment’s ForeignInvestment Agency, the provincial Department of Planning and Investment, theJapan External Trade Organisation (JETRO), and the Japanese Chamber of Commerceand Industry in Ho Chi Minh City (JCCH), which is expected to supportinvestment promotion activities between Khanh Hoa and Japan./.