Japanese businesses in Vietnam signal plans to expand
Vietnam led ASEAN for the second consecutive year on the share of Japanese firms intending to expand, according to JETRO.
A Japan External Trade Organisation (JETRO) survey found expansion plans at 56.9% of Japanese companies operating in Vietnam, with those businesses looking to grow over the next one to two years. Respondents pointed to rising exports, stronger demand within Vietnam and plans to develop their sales functions.
Ozasa Haruhiko, JETRO Hanoi’s chief representative, said the share had increased slightly. Vietnam recorded the highest proportion across Asia and Oceania, as well as leading ASEAN for a second consecutive year, he said.
Figures from the Ministry of Finance’s Foreign Investment Agency put Japan’s investment portfolio in Vietnam at about 5,872 valid projects as of September 30, worth over US$81.2 billion. Japan ranked third among 154 countries and territories on that measure.
Tsuchibashi Akito, chairman of the Japan Chamber of Commerce and Industry in Vietnam, said Japanese investors approached the country as a partner for decades. He said businesses wanted further improvements to the legal framework, more predictable policy and simpler administrative procedures.
