Though meeting with an array of economic difficulties, Viet Nam has still attracted special attention from the Japanese business community and will introduce more policies to increase the number of Japanese investors in the country, asserted Minister of Planning and Investment Vo Hong Phuc.
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The Vietnamese Government would speed up the law amendment process in order to offer specific incentives to investors, says Minister of Planning and Investment Vo Hong Phuc, Tokyo, May 31, 2011
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Minister Phuc made the statement yesterday in Tokyo at the fourth joint Japan-Viet Nam Economic Conference, which was hosted by the International Friendship Exchange Council and the Vietnamese Embassy in Japan.
The event also drew the attendance of over 100 Japanese businesspeople who are extremely interested in the business environment in Viet Nam.
The Minister pointed to the fact that Viet Nam is coping with macroeconomic instability, price hikes, widening trade deficit and high budget overspending. However, it is exerting great efforts to rein in inflation and stabilize the macro-economy to bring the economy back on track by 2012.
Mr. Fukuda from the Shinkin Credit Fund said Japanese investors have regarded Viet Nam as one of important destinations in their “China plus 1” strategy in a bid to minimize investment risks they may have in China.
The former Japanese Ambassador to Viet Nam, Norio Hattori, underlined that bilateral trade ties are incommensurate with the two countries’ traditional ties, due to the lack of dissemination of information on investment environment in Viet Nam, especially in hi-tech and subsidiary industries.
Minister Vo Hong Phuc promised that the Vietnamese Government would speed up the law amendment process in order to offer specific incentives on tax and land to foreign investors, including those from Japan./.