Japan, Secure Dominance in Vietnam by $56 Billion

Hanoi, October 29 (Engineering Daily) -- The government of Vietnam has shown that it is Japan which has invested in Vietnam prominently.

Japan has been involved in 3,900 valid investment projects in Vietnam and they are registered at $55.78 billion. Furthermore, in the first nine months of this year, Japan recorded the largest foreign investor of Vietnam. Of this, a record $5.84 billion was attached to 318 newly-registered projects.

Out of the top five projects with the largest investment in the country for construction of thermal power plants, Japanese businesses are involved in three. A survey conducted by JETRO(Japan External Trade Organization) last year it revealed that more than 70% of Japanese businesses which are being operated in Vietnam answered that it was planning to expand operations in the country. This a high percentage compared to other countries in ASEAN. For example, 70% of surveyed local firms expressed its expansion while 47.2% of Thai, 52.4% of Indonesian, and 63.4% of Philippine companies.