Attract Japanese investment capital

In 2023, Vietnam - Japan marks the 50th anniversary of establishing diplomatic relations (1973-2023). Following closely the Central directions, Quang Ninh province always identifies Japan as one of the key areas, partners, and comprehensive strategic investors in calling and attracting investment. To date, in Quang Ninh province there are 12 projects with direct investment from Japan, the total registered investment capital of the projects is approximately 2.4 billion USD.

 Mr. Chau Thanh Hung, Deputy Head of the Provincial Economic Zone Management Board, awarded the investment registration certificate to the Parts Seiko Vietnam project representative. Photo taken in July 2023, Duong Truong

Accordingly, in recent times, Quang Ninh province has maintained cooperative relations and exchange delegations with a number of Japanese provinces and cities such as Shizuoka, Tottori, Sakai (Osaka Prefecture), Hokkaido, Shiga ... At the time, many cultural exchange activities were organized such as: Yen Tu Cherry Blossom - Yellow Apricot Festival; sent delegations to visit, work and participate in many cultural exchange and trade promotion programs and activities in Japan organized by central agencies. Quang Ninh also regularly exchanges and cooperates with many Japanese partners such as: Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA), Japanese Cultural Center in Vietnam (Japan Foundation)...

In particular, with the determination to attract investment capital flows from Japan in a sustainable and mutually beneficial direction, since 2012, the province has proactively developed the Project "Promoting cooperation and attracting investment from Japan entered Quang Ninh province". In 2013, the People's Committee of Quang Ninh province and the Japan Trade Promotion Organization in Hanoi (JETRO Hanoi) signed a Japan - Quang Ninh cooperation program with a 30-year vision. With the help of JETRO, Quang Ninh province has established a separate Japanese Business Support Department (Japan Desk) under the Provincial Investment Promotion and Support Board (IPA Quang Ninh). Since its establishment, Japan Desk has contributed to helping the province's Japanese investment promotion activities prosper and progress well. This is also the province's official channel to Japanese investors; Coordinate with relevant units to provide information on socio-economic issues and investment projects from Japan in the province; Participated in receiving and working with more than 60 delegations of Japanese city and provincial governments and local businesses coming to Quang Ninh to seek cooperation opportunities.

Up to now, in Quang Ninh province, there are 12 projects with direct investment capital from Japan, the total registered investment capital of projects is approximately 2.4 billion USD, accounting for 20.52% of total investment capital. FDI in the whole province. Japanese direct investment focuses on the following fields: Electricity production, processing industry, manufacturing, agriculture, forestry, fishery and management consulting activities. In addition, in Quang Ninh province, there are 2 ODA projects being implemented, including the Ha Long City drainage and wastewater treatment project using preferential loans from the Japanese Government with a total investment investment of VND 3,293 billion.

Mr. Soichi Inoue, General Director of Marubeni Vietnam Company, one of the investors in the Quang Ninh LNG gas power project, highly appreciated Quang Ninh province's many completed infrastructures such as the highway connecting from the national airport. Van Don International Airport with Hanoi and Hai Phong. In particular, administrative procedure issues are something businesses are very concerned about, but Quang Ninh performs very well, quickly, and provides maximum support, making businesses feel more secure and confident. In the coming time, the unit hopes to have high-quality human resources, especially human resources who know Japanese to be able to recruit into the working unit.

In terms of trade, Japan is the second largest export market of enterprises in Quang Ninh province (after China), in which the main export products are: Garments, textiles, equipment components electronics (TV screens), metals, coal ... Main imported items from Japan are: Garment materials, textiles, electronic components, household goods... In the province currently There are 35 businesses that have regular trade and import-export exchanges with the Japanese market.

It can be seen that Japan has now been one of Vietnam's leading strategic partners, however, Japanese FDI capital in Quang Ninh has not yet reached expectations, not commensurate with its potential. The province's advantages as well as the strategic cooperation relationship between Quang Ninh and Japan have been clearly shaped over the past time. Therefore, to promote the cooperative relationship between Quang Ninh and Japan, the province is ready with solutions to open up new opportunities and a new future for friendly relationships, investment, and trade cooperation between businesses. Japanese industry and promotion organizations with Quang Ninh.

In the coming time, Quang Ninh commits to prioritize attracting investment and is ready to create the most favorable conditions for Japanese investors to invest in the province in industries, fields and areas where the province has outstanding competitive advantages. outstanding, distinctive potential, especially modern integrated services; processing industry, manufacturing, high technology, smart technology; marine economy, logistics, seaports and seaport services; ecological agriculture; Industry groups promoting green economy such as clean energy, renewable energy, gas power, and wind power. At the same time, we are ready to openly exchange all contents of interest to Japanese businesses; Committed to accompanying and creating the most favorable conditions for administrative procedures, land, site clearance, meeting human resource needs, and absolutely ensuring security and property safety; Providing convenient public services and an open, favorable, equitable and transparent investment and business environment for Japanese investors to invest successfully and sustainably in the long term in the province.

Hoang Quynh