Vietnam’s political and macroeconomic stability represents the major factor behind Japanese enterprises’ decision to expand their operations in the country, said Watanabe Nobuhiro, Japanese Consul General to Ho Chi Minh City.
Furusawa Yasuyuki, general director of Japanese retail giant AEON addresses the event (Photo: baodautu.vn)
Addressing a conference held on March 1, Nobuhiro singled out Vietnam for having recorded high economic growth of approximately 6% over the past three decades, noting the country secured positive growth last year despite the negative impact of the prolonged COVID-19 pandemic.
According to the diplomat, the southern region, including Ho Chi Minh City, has become the driving force for the country's overall economic development as it plays a crucial role in receiving FDI inflows for the entire country.
Both Vietnam and Japan have established an extensive strategic partnership and friendship over recent years, especially in the joint fight against the COVID-19 pandemic.
Since June last year, he said Japan has provided Vietnam with a total of 7.3 million doses of COVID-19 vaccines, while the latter has also supplied thousands of masks to Japanese people during the height of the pandemic.
The economic and trade ties are widely considered to be one of the main pillars of the mutual relationship, with Japan emerging as the second largest investor in Vietnam. Notably, both sides signed 45 cooperation documents worth US$1.2 billion during Prime Minister Pham Minh Chinh’s official visit to Japan last November.
These documents clearly demonstrate Japanese investors’ confidence in the Vietnamese market and the potential of its economic development in the future.
A recent survey conducted by the Japan External Trade Organization (JETRO) confirmed that roughly half of Japanese enterprises and corporations operating in Vietnam have devised plans to expand their operations in future.
2023 will mark the 50th anniversary since the establishment of diplomatic relations between both sides, which will provide fresh impetus to further strengthening economic ties between the two countries, the Japanese diplomat said.
At the event, Furusawa Yasuyuki, general director of Japanese retail giant AEON, revealed that the company has also identified Vietnam as the second key market after Japan, with plans to accelerate business development and diversify retail models in the Vietnamese market
The AEON executive revealed that it will open additional shopping malls and supermarkets and convenience stores in provinces across the country in the coming time.
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