An assembly line of Toyota in Vinh Phuc Province. — Photo bizlive.vn Viet Nam maintained its position as an important investment destination for Japanese companies, with some 70 per cent of operational Japanese-invested firms making plans for business expansion here. This information was revealed by Hironobu Kitagawa, chief representative of Japanese External Trade Organisation (JETRO), in Ha Noi, at a meeting with the Ministry of Industry and Trade on January 29. According to the latest survey conducted by JETRO on the operation of Japanese firms in Asia and Oceania, 65.1 per cent of Japanese businesses operating in Viet Nam reported profits, up 2.3 points over the 2016 survey. Some 70 per cent of Japanese firms have mulled over expansion schemes in Viet Nam given the country’s market size, growth, stable political and social state of affairs, and cheap labour cost. This was a high rate in comparison with other countries where JETRO conducted the annual survey, Kitagawa said. “Viet Nam continues to be an important investment destination for Japanese businesses.” However, the head of JETRO in Ha Noi also pointed out the risks in the investment climate, concerns and obstacles that Japanese enterprises are facing during the investment process in Viet Nam. The latest survey was conducted with nearly 12,000 Japanese enterprises in 20 countries and territories in Asia and Oceania from October 10 to November 10, 2017. In Viet Nam, 1,345 Japanese firms participated in the survey. The full report will be made available next week. According to Deputy… [Read full story]
Metro Cash & Carry last week celebrated the grand opening of its 12th cash and carry wholesale centre in Vietnam. Metro Cash & Carry Binh Duong is located in the south eastern Binh Duong province's Thu Dau Mot town. Hotels, restaurants, caterers, service companies and offices are the key targeted customer groups of the 20,000 square metre Metro Cash & Carry Binh Duong. The new centre's wholesale operations create 400 new jobs and will add further success to the province's economy. "Metro's opening of a new B2B (business to business) centre in the highly developed industrial Binh Duong province proves…... [read more]
Lending rates could rise by 1-2 percentage points this year, experts say. Photo: Dao Ngoc Thach Nguyen Tu Nhien has planned to borrow more from banks to set up another production line for his woodwork factory in Hanoi this year. However, possible interest rate hikes are giving him second thoughts. "Deposit rates have increased over the past few months, so there's no reason for borrowing costs to stay still," Nhien said. "Banks have not announced higher lending rates. But I believe they will do that soon." In anticipation of the central bank's possible move to further limit the use of…... [read more]
HA NOI (VNS)— Leading Japanese motor manufacturer NIDEC Corporation will expand its business in Viet Nam and increase its investment to over U$1 billion, from $600 million currently. According to NIDEC chairman Shigenobu Nagamori, the firm will set up five additional subsidiaries in Viet Nam, with the goal of not only turning the country into a manufacturing hub, but also a leading technology research centre in the region. Within its business strategy including a vision for the next 50 to 100 years, the firm will bring the latest technology to Viet Nam, while extending its operation beyond production, to research…... [read more]
Japanese firms want Circular 23 modified Tu Hoang HANOI - The Japan Business Association in Vietnam has written to the Ministry of Science and Technology and relevant agencies seeking further amendments to Circular 23 on the import of used machinery and equipment that has been controversial for years. In this letter, Chairman Hiroshi Karashi of the association says: “We hope machinery and equipment imported by manufacturers to serve their production activities will face no age limits.” When Japanese enterprises relocate their manufacturing facilities to other countries, the use of machinery at such facilities for production is popular, he explained. Moreover,…... [read more]
Around 70 per cent of Japanese businesses operating in Viet Nam would continue to expand their operations, according to a survey recently released by the Japan External Trade Organisation (JETRO). Viet Nam was the fourth most popular country for Japanese firms to conduct business in this year, after Cambodia, India and Bangladesh. The findings were part of the results of JETRO's latest survey on the business operations of Japanese-affiliated firms in 18 countries/regions in Asia and Oceania. The survey, conducted between August and September 2010, received valid responses from 3,486 companies, or 47.6 per cent of firms that were sent…... [read more]
