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Boosting investment attraction from Japan

Tuesday, 2018-09-18 21:39:16
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Workers at Sakai Amiori Co., Ltd in Phu Ha Industrial Zone check the garment’s quality before packing product.

PTO- So far, the province has attracted 7 investment projects from Japan with the total registered capital of nearly USD36 millions, mainly in the fields of wood processing, textiles and footwear, etc. Under the direction of selective investment attraction, especially quality projects, products with high added value and competitiveness, the investment capital attraction from Japan is one of the strategic priorities of the province, especially in the key fields such as high technology, supporting industries, high quality services, etc.
 
Since 2012, Phu Tho province and Nara province of Japan have established a friendly cooperation relationship and signed the Memorandum of Understanding on the fields of investment, culture, education and training, tourism, etc., in order to bring into play the potentials and strengths and promoting the socio-economic development of each side. On the basis of the friendship between Vietnam and Japan in general, Phu Tho and Nara in particular, Phu Tho has assigned many working delegations to the country of cherry blossom for investment promotion.

Recently, in April of 2018, in order to promote the investment attraction from Japan, by the support of Vietnam Foreign Affairs Ministry, Vietnam Embassy in Japan, Japan External Trade Organization (JETRO), a working delegation of Phu Tho province led by Mr. Bui Minh Chau, Deputy Secretary of the Provincial Party Committee cum Chairman of the Provincial People's Committee has successfully held an investment promotion conference in Tokyo. The conference is an important forum for investors, Japanese enterprises and specialized agencies of Phu Tho province to exchange and discuss issues of mutual interest, identifying the potentials and benefits as well as chances to succeed when investing in Phu Tho. It also helped the province to set up mechanisms and solutions to create the most favorable environment in accordance with the criteria of foreign investors, especially Japanese investors. On its side, Phu Tho is committed to creating the most favorable conditions for investors’s success and sustainable development in the future with the motto "Your success is ours”.

In order to create the best conditions for investors coming from “cherry blossom country”, Viglacera Corporation – JSC, the infrastructure investment unit of Phu Ha Industrial Zone in Phu Tho town established the Investment Support and Promotion Board to support Japanese investors. The provincial Department of Planning and Investment, Department of Foreign Affairs and Phu Tho Management Board of Industrial Zone also established departments to support Japanese investors in exploring the investment environment and opportunities; guiding investment procedures in Phu Tho; connecting to Japanese associations, organizations and individuals to carry out investment promotion activities as well as Phu Tho's image promotion to the Japanese business community; at the same time, receiving and supporting to overcome the difficulties and obstacles of Japanese investors operating in the province, seeking investment trends and potential investment enterprises to propose mechanisms and policies in attracting direct investment from Japan into Phu Tho in the most effective way.

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A corner of Phu Ha Industrial Zone.

On the investment environment in Phu Tho, Ms. Tran Thi Thu Huong, who spent more than 20 years to work and live in Japan, now holding the position of manager in Sakai Amiori Co., Ltd. said: Since Noi Bai - Lao Cai expressway has been opened, the infrastructure of industrial zones has been gradually completed, Phu Tho has become a potential province to attract the investors. Especially, with the initiative of provincial leaders and clearly orientation, Phu Tho has been a potential destination for investors such as Sakai Amiori as well as other Japanese companies.

With registered capital of USD2.4 millions; capacity of 500,000 products/ year, including 370,000 sportswear products/ year; 130,000 fashion products/ year, Sakai Amiori's garment factory has run into production since July of 2017 and in the process of expanding since 2019. According to the representative of Sakai Amiori, Phu Tho has made many great efforts, however, the investment attraction from Japan of the local has still met difficulties such as the lack of linking industrial parks, high-quality labor resource, Japanese speakers. In addition, the investment incentive mechanism of Phu Tho is not really outstanding compared to neighboring localities such as Vinh Phuc or Bac Ninh.

The investment resources from domestic and foreign enterprises is determined as an important role in successfully implementing the targets and orientations for development of the province. In the coming time, Phu Tho continues to partner with enterprises, creating the environment of investment and business towards international standards, improving business environment and competitiveness index to always be an attractive destination for investors, especially Japanese investors. from. Hopefully, by the efforts of the province, more and more investors, especially from Japan participate in projects in the area, thereby, contributing to the socio-economic development of the province and the whole country.

Dinh Vu

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