Stronger FDI likely into Vietnam: JETRO chief representative in Hanoi

19 Feb '23

2 min read

Pic: Shutterstock

Though foreign direct investment (FDI) inflow into Vietnam is reducing, chief representative of the Japan External Trade Organisation (JETRO) in Hanoi Nakajima Takeo is optimistic that it will become stronger in future. Apart from Japanese companies, those from Singapore, South Korea and Taiwan are also eyeing the Vietnamese market.

The results of a survey conducted on 3,100 Japanese businesses found Vietnam ranks fourth in the world in terms of export destinations for Japanese firms, second only behind the United States in attracting Japan’s foreign investment, and this shows the great interest of Japanese businesses in Vietnam, Takeo said.

In the JETRO survey on Japanese investment in Asia and Oceania in 2022 that received responses from 603 Japanese enterprises operating in Vietnam, three-fifths of the enterprises said they will expand their investment in Vietnam in the next one to two years—up by 4.7 points from the previous year.

It was the third highest among Southeast Asian countries after India (72.5 per cent) and Bangladesh (71.6 per cent).

Investment funds and investors from Singapore and Brunei too have confirmed their interest in investing in Vietnam, a news agency reported.

Red River Delta is the second largest FDI zone in the country, accounting for 31.4 per cent of the total FDI that Vietnam has attracted in the past 35 years. Hanoi, Bac Ninh, Vinh Phuc, Quang Ninh, Thai Binh and Hai Phong are the ‘magnets’ attracting investment in recent years in that region.

Fibre2Fashion News Desk (DS)

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