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Japan set to invest more multi-billion-USD projects in Vietnam

Japan, the second biggest investor in Vietnam, is continuing to pour billions of USD into new projects in the Southeast Asian nation, an investment partnership expected to grow stronger after a State visit to Japan by President Tran Dai Quang.
Japan set to invest more multi-billion-USD projects in Vietnam ảnh 1Prime Minister Nguyen Xuan Phuc (third, right) and other participants at the ceremony to start the construction of an AEON mall in Le Chan district, Hai Phong city (Photo: VNA)

Hanoi(VNA) – Japan, the second biggest investor in Vietnam, is continuing to pourbillions of USD into new projects in the Southeast Asian nation, an investmentpartnership expected to grow stronger after a State visit to Japan by PresidentTran Dai Quang.

New Japanese investment projects have appearedin Vietnam since the beginning of 2018.

Notably, Sumitomo and Mitsubishi have agreed tocooperate with Vietnam’s BRG Group to invest in the Nhat Tan – Noi Bai smartcity project. 

This is the biggest-ever Japanese project inVietnam with total investment of 4.2 billion USD and promises to gathertechnologies being used in the most modern urban areas in Japan.

In mid-May, the Japanese-invested AEON MallVietnam started the construction of a mall in Le Chan district of northern HaiPhong city. This is the second shopping centre this firm began to build in 2018after the one in Ha Dong district of Hanoi, raising the total number of AEONmalls in Vietnam to six.

The inflow of major projects has consolidatedJapan’s second position among 116 countries and territories investing in theASEAN country.

ܫ[President’s visit to Japan expected to lift two-way trade]

According to the Vietnamese Ministry of ForeignAffairs, as of the end of March 2018, Japan had 3,693 projects with totalcapital of 49.84 billion USD in Vietnam. In 2017, its direct investment hit arecord of 9.11 billion USD, ranking first among foreign investors.

Japan is expected to continue choosing Vietnamas the destination for its multi-billion-USD projects, particularly after a biginvestment conference is held in Tokyo during a State visit to Japan byVietnamese President Tran Dai Quang from May 29 to June 2. Many economiccooperation projects are expected to be revealed at this event.

In a recent interview given to Japanese media,President Quang said to better capitalise on each other’s strengths, the twosides should further promote economic links through enhancing ties in trade,investment and the implementation of the Vietnam-Japan Economic PartnershipAgreement.

He voiced his belief that with joint efforts,consensus and sound policies, the two countries will continue to developbilateral relations and lift their Extensive Strategic Partnership for Peaceand Prosperity in Asia to a new height.-VNA
VNA
#Japanese investment in Vietnam #State visit to Japan #Nhat Tan – Noi Bai smart city project #Japanese projects in Vietnam #AEON Mall #Vietnam-Japan Economic Partnership Agreement #Vietnam-Japan relations #updated Vietnam news #Vietnamplus #Vietnam News Agency Japan

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