HCM City’s Hai vows favorable conditions for Japanese investors

Visiting Party Secretary Le Thanh Hai of Ho Chi Minh City on Oct. 13 pledged to provide favorable conditions for Japanese companies to invest in the southern Vietnam economic hub.

He made the affirmation during his separate meetings in Japan with representatives of the Japan International Cooperation Agency (JICA), and Japan Business Federation (Keidanren).

Mr. Hai said he hoped the organizations to facilitate Japanese businesses in investing in HCM City, especially in the fields of human resource development, high-tech and support industries, infrastructure, transportation, and environment.

In infrastructure development, Mr. Hai said he expected Keidanren to support his city via official development assistance and public-private partnership.

Keidanren vice chairman Kawamura Takashi said he wanted to cooperate with HCM City in transportation, insurance and some other areas. He added his organization was willing to conduct long-term cooperation in support industries.

Meanwhile, JICA vice president Arai Izumi, during his meeting with the HCM City Party leader, pledged financing for a subway route, especially via ODA.

The JICA executive added the agency was considering raising ODA for Vietnam, including projects in HCM City, from 150 billion yen last year to 200 billion yen this year.

In the afternoon, Mr. Hai attended a Vietnam investment promotion workshop held in the Japanese capital of Tokyo. About 300 representatives from Japanese enterprises participated in the event.

Ho Chi Minh City’s Party Secretary Le Thanh Hai (standing, C) and other Japanese and Vietnamese officials witness the signing of a memorandum of understanding between the city’s Cooperative Alliance and the Kawasaki Business Association in Tokyo on Oct. 13, 2011 (Photo: Xuan Hanh)

Mr. Hai introduced to the participants HCM City’s geographical features, population, workforce, infrastructure and incentives for foreign investors.

The delegates witnessed the signing of a memorandum of understanding between the HCM City Cooperative Alliance and the Business Association in Kawasaki City, Japan.

Mr. Hai and HCM City vice chairman Le Manh Ha granted investment licences to five Japanese corporations namely Aeon, Marubeni Vietnam, N-Asset, Marubeni Machine Tools, and Hanwa.

The city Party chief also met with Honda Corporation executives on the same day. He said he expected Honda to help Vietnam develop its support industries.

The Japanese automaker and motorcycle manufacturer reportedly has plans to build a second plant in Vietnam, to be located in the northern province of Ha Nam.

By Xuan Hanh, translated by Khanh Van

Other news