Japanese businesses continue regarding Vietnam as a good destination for their investment and production expansion, President of the Japan Management Association (JMA) Yoshio Tomisaka affirmed.

The JMA official cited Vietnam’s advantages of a young workforce, cheap labour, and political stability in his speech to open the 9th JMA Group Global Seminar in Hanoi on July 3.

He said he expects more Japanese investors will come to Vietnam following the seminar as it offered them a chance to share experiences and seek partners in the country.

President of the Vietnam Chamber of Commerce and Industry Vu Tien Loc highlighted the JMA’s choice of Vietnam to hold its seminar as an indication of Japanese businesses’ belief in the country’s prospects despite numerous difficulties facing its economy.

He expressed his hope that Japanese businesspeople’s experiences introduced to the seminar will help Vietnamese businesses to further improve their managerial skills and competitiveness for deeper international integration.

Two successful Japanese investors in Vietnam, Acecook Vietnam Director General Shoichi Namie and Canon Vietnam General Director Sachio Kageyama affirmed that they will expand their investment in Vietnam.

Acecook Vietnam, with eight plants and more than 4,000 workers, is a leading instant noodle producer in Vietnam, currently accounting for 70% of market share. Meanwhile, Canon Vietnam owns three plants and plans to make the country a link of its global supply chain.

At the seminar, Japanese businesses recommended Vietnam to pay more attention to building infrastructure and developing human resources because those are important elements to attract foreign investors.

Japan has poured US$9 billion in FDI in Vietnam, standing behind the Republic of Korea, Singapore and Taiwan. However, it tops others in terms of capital disbursement with close to US$5 billion. (VNA)