Up to 70 percent of Japanese businesses investing in Vietnam plan to expand their operations in the country, considering it a key location for their investment.
A Japan External Trade Organisation (JETRO) survey announced in Ho Chi Minh City on February 24 revealed that 90 percent of respondents said their business expansion aims to raise turnover.
Up to 70 percent of Japanese businesses investing in Vietnam plan toexpand their operations in the country, considering it a key locationfor their investment.
A Japan External Trade Organisation(JETRO) survey announced in Ho Chi Minh City on February 24 revealedthat 90 percent of respondents said their business expansion aims toraise turnover.
Non-manufacturing businesses added that Vietnam has attracted them with its growth capacity and potential.
The country is ranked fourth among 15 countries which have anabundant labour source and stable political and social situation, otherof its advantages, according to the survey.
However, theJapanese businesses also expressed their concerns regarding policies,administrative procedures, tax and labour costs in the Southeast Asiancountry.
Yasuzumi Hirotaka, Managing Director of JETRO’s HoChi Minh City Office, suggested Vietnam accelerate policy andinstitutional reform, which is of great concern to Japanese businesses.
He also called on the country to provide more assistance todomestic and foreign firms operating in the support industry by offeringlow interest rates and personnel development.
The survey,which questioned nearly 1,000 Japanese firms in 20 countries andterritories in Asia and Oceania, aims to evaluate businesses’performance to improve the investment environment in the two regions.-VNA
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