Firms from Kanagawa eye Vietnam

A business forum and an opening ceremony of the Kanagawa Industrial Park took place on Friday in Hanoi. 6 Japanese firms from Kanagawa, Japan attended the business forum. Focused on machine manufacturing and electronic components, they both showed high interest to invest in Vietnam.

"We want to establish a representative office in Vietnam, maybe in Hanoi or Ho Chi Minh City. After conducting market research, we will build a factory here in the country next year. Hopefully, we will be able to produce goods for the Vietnamese market and also to export to others, like the US or the EU." - Hideaki Iwasaki, CEO, IDK Corporation, Kanagawa, Japan.

The business forum was followed by a ceremony to inaugurate the Kanagawa Industrial Park in the Northern Province of Hung Yen. The industrial park covers an area of 20 hectares and serves the investment demand of firms from Kanagawa province.

"The industrial park in Hung Yen Province covers a big area with quality infrastructure system and facilities. We decided to invest and build a base there. In the future, we hope to expand our activities in Vietnam, as well as promote more technology transfer for Vietnamese firms." - Junichi Suzuki, Director, Japanese firm operating in Kanagawa Industrial Park.

"A great amount of the 2-billion-USD Japanese investment focuses here in the industrial park. We are still inviting investors from Kanagawa in particular and from Japan in general to come and invest." - Doan The Cuong, Chairman, Hung Yen Provincial People’s Committee.

Kanagawa, located at the southern gateway of Tokyo, is the 2nd most populous province in Japan. Its capital, Yokohama, is one of the largest port cities in Japan. The province’s gross domestic product (GDP) sits in the top 4 of Japanese provinces. According to Mr Kuroiwa, the province’s prefecture, Kanagawa will boost cooperation with Vietnamese firms in all fields.