Japan has become the biggest foreign investor in Ho Chi Minh City with a total capital investment of more than US$2.7 billion in various projects.
Mitsuhiro Mori, Chairman of the Japanese Business Association in HCMC, said apart from 600 Japanese businesses operating in the City, many more are keen to invest here.
Japan also leads the flow of foreign capital in the southern province of Binh Duong, with 176 valid projects and capital investment of US$3.1 billion.
Japanese investors contributed 18 percent of the total Foreign Direct Investment (FDI) in Binh Duong Province, mostly in hi-tech and high value-added industries, such as car manufacturing, food and beverage processing.
Becamex IDC Co has invested US$1.2 billion in one project alone--the Binh Duong Tokyu urban area. The project will cover 71 hectares and will comprise of 7,500 apartments, villas, amusement parks, trade centers and offices for lease.
Meanwhile, Dai Nippon Printing has developed a $35-million factory that produces laminate film and printing and packaging material.
Japan’s Aeon, the biggest retailer in Asia, has injected a further $95 million into a project to build a big shopping centre that covers more than six hectares.
Another Japanese enterprise, Wonderful Saigon Electrics, channeled $150 million into its hi-tech factory to produce camera modules used in mobile phones.
The Saigon Stec Co--a Japanese funded corporation in HCMC has spent $175 million to hire land in Tan Uyen in Binh Duong Province for expanding its factory to produce electronic circuit boards for cameras.