By the end of August, Japanese firms had invested US$151 million in 20 projects in Bac Giang, ranking third among foreign investors in the province, provincial Department of Planning and Investment Director Trinh Huu Thang said.
Japanese investment is mainly funnelled into manufacturing and processing, services and trade, with rapid capital disbursement, Thang said, adding that of these projects, 18 are already operational, while the remaining two are still under construction.
He noted that projects with Japanese investors have made an effective contribution to the province's economic development and job creation goals, as they earned a combined revenue of more than VND6.31 trillion ($281 million), providing approximately 1,900 local jobs.
In the coming period, the province would continue to seek more Japanese investment in a wide range of sectors including industry, hi-tech agriculture—especially in animal breeding, meat processing and vegetable and medicinal plant cultivation—trade, service and tourism, Thang said.
During an investment promotion conference held in the province last week, Dang Xuan Quang, deputy head of the Foreign Investment Agency under the Ministry of Planning and Investment, expressed appreciation for the Japanese enterprises' contributions to socio-economic development in Viet Nam -, and Bac Giang, in particular.
He also highlighted infrastructure, support industries and agricultural and rural development as areas that require additional Japanese investment.
Toma Masaaki, second secretary at the Japanese Embassy in Viet Nam suggested local authorities should improve the investment climate by ensuring a stable electricity and water supply, building transport facilities and simplifying administrative procedures to attract new investors.
