Japanese businesses look to invest in Ho Chi Minh City’s agriculture in the future, a Japanese minister told the city’s leaders on Tuesday.

The East Asian country will encourage its agro-forestry and fishing businesses to invest in the southern Vietnamese hub, particularly in its hi-tech agriculture sector, Koya Nishikawa, Japan’s Minister of Agriculture, Forestry, and Fisheries said after a cooperation document signing ceremony in Ho Chi Minh City.

Under the agreement, signed by the Japanese minister and Ho Chi Minh City chairman Le Hoang Quan, the East Asian country will seek to increase the production and quality of agricultural products, including the hi-tech and biotech produce, in the city.

Japanese investors will also help local businesses to improve their processing techniques, post-harvest preservation methods, as well as product safety.

Japanese food processors, meanwhile, will invest in the city’s livestock industry to produce quality products to meet the high demand of consumers in Japan.

The two sides will also work to turn Ho Chi Minh City into a hub of high quality livestock and plants for other localities countrywide.

Many Japanese businesses operating in hi-tech agriculture are seeking Vietnamese partners for technology transfer, according to the Japan External Trade Organization. The cooperation agreement will pave the way for these investors to grab a business opportunity in Ho Chi Minh City, the organization said.

Le Thanh Hai, Ho Chi Minh City Party Committee Secretary, said the city is committed to supporting Japanese investors and will assign relevant agencies to resolve issues pointed out by the Japanese side.

The southern metropolis has plans to extend its High-Tech Agricultural Park, located in the outlying district of Cu Chi, by nearly 400 hectares to lure more foreign investors, including those from Japan, according to The Saigon Times Online.

The park has so far attracted 14 projects, collectively worth VND190 billion (US$8.85 million), which produce high-quality seeds and transfer safe vegetable farming models.

Some 750 Japanese businesses currently operate and around 7,300 Japanese nationals work in Ho Chi Minh City, according to the Consulate General of Japan in the city.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!