Sunday, August 19, 2007

Vietnam emerges as destination for Japanese investment

The Nihon Keizai news daily of Japan on August 17 ran an article praising Viet Nam as an ever-more atractive destination for Japanese investors.

According to the paper, Vietnam is emerging as a new investment base for Japanese businesses in terms of both scale and capital, thanks to low-cost labour and the government’s foreign investment policy.

A lot of world-renowned electronics producers of Japan such as Canon and Brother Industries have built their manufacturing factories in Vietnam. Electric parts producing companies like Nitto Electrical Industry and Nidec Corporation have also sketched out plans to pour more money into the Vietnamese market.

Japanese foreign direct investment in Vietnam reached 1.3 billion USD in 2006, doubling the 2005’s figure, the paper noted.