Japan wants to expand investment in Dong Nai

​According to Mr Cao Tien Dung - Chairman of Provincial People's Committe, Japan had invested in Dong Nai 262 projects with a total registered capital of nearly USD 4.9 billion. Although over the past 1 year, the Covid-19 pandemic had occurred, Japanese enterprises (enterprises) had been constantly invested in new projects and added capital to projects that were operating to expand production and business in the province.

*Cooperation in many fields

Dong Nai and Kansai Region participated in online signing in 3 areas.​

Recently, Dong Nai has signed an online agreement with Kansai Region (Japan) to expand cooperation between the two sides in the field of supporting industry development, training to provide high-quality human resources for the industry and energy saving contributing to environmental protection. The above signing is valid for 3 years. In addition, both sides pledged that besides the issues signed for cooperation, they will continue to expand relatons in other areas to support each other's development.

Mr Takeshi Yonemura, Director General of the Kansai Regional Economic, Trade and Industry Department, said: "The Japanese government was re-establishing the supply chain, Vietnam was the country with the most prospects for Japanese enterprises invest in. Therefore, in recent years, the number of projects of Japanese enterprises investing in Vietnam had increased. Dong Nai was the destination chosen by many Japanese enterprises, because the province established Kansai table to support enterprises with procedures, reduce travel time and costs, so invest more effectively".

Dong Nai has become one of the major centers of the country in supplying input materials for the industry, contributes significantly from Japanese enterprises. Because most of the projects of Japanese enterprises invest in the province in the field of supporting industries for the computer and electronics industry; machinery, equipment, tools and spare parts; Vehicles and spare parts...

*Advantages of expanding trade

Vietnam and Japan are also jointed in 4 trade agreements (FTA), facilitate investment and export of both sides. These included ASEAN-Japan Comprehensive Economic Partnership Agreement; Vietnam-Japan Economic Partnership Agreement (VJEPA); Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); The Regional Comprehensive Economic Partnership (RCEP) signed on November 15, 2020.

The above agreements have helped Japanese enterprises to invest in Vietnam as well as Dong Nai to receive more incentives, increase competitiveness.

Mr Masahiro Ariga, Head of Business Connection Department of Japan Business Association in Ho Chi Minh City said that FTAs have opened great opportunities for Vietnam and Japan in economic development cooperation. Dong Nai was an area that Japanese enterprises extremely focused on because there was a lot of potential for industrial and logistics development. The province was a major industrial center of Vietnam, near seaports, bordering with Ho Chi Minh City so businesses invest in will have high probability of success.

Currently, there are many domestic-invested enterprises that become products suppliers to Japanese enterprises in Dong Nai as well as other provinces in the country. At the same time, Vietnamese enterprises expand their exports to Japan with many items such as: footwear, textiles, wood products, machinery and equipment, electronics, agricultural products, food. Dong Nai is the first province in the country to export chicken to Japan and production is constantly increasing.

Chairman of Provincial People's Committee – Mr. Cao Tien Dung identified: "Japanese projects invested in the province had modern technology and they were in the field of priority. In the coming time, the province will go through Kansai Desk to promote trade cooperation to match the potential and advantages between the two sides. The provincial government committed to create favorable conditions for Japanese enterprises that have been investing in Dong Nai to operate well".​​