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Japanese firms line-up to tap Vietnamese market

27
Apr '10
Vietnam witnesses the functioning of around 1,000 Japanese companies within the country. Business entrepreneurs in Japan see Vietnam as an extremely lucrative investment destination with a huge potential for industrial production, particularly in textiles and garments sector, stated the Japan External Trade Organization (JETRO).

Compared to just 1,000 companies in Vietnam, Thailand houses around 7,000-8,000 Japanese companies. However, Vietnam offers low labour costs and the consumer market is growing very fast as compared to Thailand.

JETRO has to perform bigger and pivotal role in providing assistance to Japanese investors to access business opportunities in the country, if Vietnam looks forward to elevate its economy by 6.5 percent or higher.

The organization intends to take part in the METALEX fair in Ho Chi Minh City, which is scheduled to be organized in early October, as the event will enable Japanese investors to swell their operations in the country.

Vietnam looks forward to attract new foreign direct investments and additional capital up to US$22-25 billion this year, which would prove to be a remarkable increase from last year's US$16 billion.

Fibre2fashion News Desk - India


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