On July 4th 2017, in Hanoi, Haiphong Investment, Trade and Tourism Promotion Center had a meeting with the Japan Business Association in Vietnam (JBAV). Attending the meeting, the delegation of Haiphong Investment Promotion Center was led by Mr. Le Tri Vu – Director of the Center; together with Mr. Pham Hung Hung - Deputy Director and leaders of Administration - Organization and Investment, Trade, Tourism Promotion Division of the Center. From the JBAV side, there were representatives of more than 60 large Japanese enterprises operating mainly in the field of industrial production. The meeting was also attended by representatives of the Japan Business Support Office in Vietnam (Japanese Desk).
Picture of the meeting
The JBAV was formerly established with the name “The Japan Chamber of Commerce & Industry in Hanoi” under cooperation of Embassy of Japan in Vietnam with 26 member companies. After a period of effectively operating, until now, the Association has grown to have over 1,600 members operating in fields of commerce, construction, manufacturing, finance, insurance, services and transportation, of which the number of members in mechanical engineering, high technology accounts for the largest ratio and is constantly increasing. Major members of the Association carry out investment activities with high annual turnover and contribute significantly to socio-economic development results of Vietnam such as Bridgestone, Canon, Fuji Xerox, Honda, Toyota, Nissan, Idemitsu, Kokuyo, Kyocera, Nipro Pharma ...
Mr. Hiroshi Karashima - Chairman of JBAV said that the Japan Business Association in Vietnam was established with the purpose of exchanging between members and creating good relationships and cultural exchanges between Japan and Vietnam as well as promoting economic cooperation between the two countries. The Association periodically organizes seminars to provide and exchange latest information for members of the Association on issues related to investment promotion, tax, labor, mechanism, policy of Vietnam... The Association has also been actively researching and proposing suggestions to Vietnamese Government for improving investment and business environment.
Speaking at the Conference, Mr. Le Tri Vu - Director of the Center said that the Japan Business Association in Haiphong is operating effectively, attracting a large number of members including well-known Japanese corporations. Effective activities of the Association have contributed significantly to the results of production and business activities of Japanese enterprises in Haiphong. Currently, there are 501 valid FDI projects with total investment capital of 14.03 billion USD, of which 132 are Japanese FDI projects with total investment capital of 4.1 billion USD. As a result, Japan ranked first in the number of projects and second in capital among 36 countries and territories investing in Haiphong.
At the conference, Mr. Le Tri Vu directly introduced about investment environment of the city, activities of the Center as well as information on socio-economic highlights of the city in the first 6 months of 2017. In order to solve general sentiment of investors with difficulties in implementing investment procedures in Vietnam in general and Haiphong in particular, he shared that with political determination of the leaders of the city and the efforts of the city's cadres and civil servants, the provincial competitiveness index of Haiphong in 2016 exceeded the threshold of 60 general points, ranking 21/63 provinces, cities, increasing 7 levels compared to that of 2015; the city's administrative reform index for 4 consecutive years ranked 2nd out of 63 provinces. Haiphong is considered as one of the 10 most attractive locations for investors.
Mr. Le Tri Vu - Director of Investment, Trade and Tourism Promotion Center introduced
about investment environment of the city
At the end of the working program, the two sides expressed their desire to continue to cooperate more broadly and comprehensively in many fields, especially in investment promotion so that they can soon organize conferences, forums for economic exchanges between Japanese and Vietnamese enterprises, aiming to develop mutual benefits, attracting a great deal of Japanese FDI into Vietnam as well as Haiphong city in parallel with actively supporting investment, production and business activities of Association’s members in particular and Japanese investors in general./.