Many Japanese enterprises expressed interest in relocating their manufacturing to Vietnam at a meeting with Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi on Monday. The meeting was attended by PM Phuc, senior Vietnamese officials, Japanese business representatives, Japanese Ambassador to Vietnam Yamada Takio, and representatives of Japanese economic institutions. Responding to statements of interest in Vietnam’s investment milieu from Japanese firms, the Vietnamese PM guaranteed the country’s welcoming policies that correspond to global supply chain relocation plans of Japanese entities, among others. Adequate market for ambitious ventures Speaking highly of the Japanese government and the immense contribution of former Japanese Prime Minister Abe Shinzo in the recent development of the comprehensive strategic partnership between the two countries, Phuc also highlighted the timely initiative of supply chain diversification in times of the COVID-19 pandemic by the Japanese government. Among the 30 Japanese firms who benefitted from the first batch of a supply chain diversification support package from the Japanese government, there were at least 15 firms expressing interest in manufacturing expansion to Vietnam. From the perspective of the Vietnamese government, Japanese businesses are highly regarded as a community of committed and trustworthy investors who deliver significant efficiency in their business operations, notable… Read full this story
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