The Foreign Investment Agency expects cumulative Vietnam-Japan trade turnover to reach US$29 billion by the end of 2013.
More than 65.9% of Japanese businesses in Vietnam have confirmed intentions to expand their Vietnamese operations within the next two years.
The Japan External Trade Organisation (JETRO) said around 4,000 Japanese businesses are operating in the Asia-Pacific region, more than 250 of which are located in Vietnam. The majority work in the processing and manufacturing industries.
At a recent Japanese investment promotion seminar, economists said Japan’s formidable foreign direct investment flow has opened up new business opportunities in Vietnam. They were careful to note these opportunities must be met with a renewed focus on ensuring Vietnam’s business environment fulfills Japanese investor expectations.
