The administration of Dong Thap Province in southern Vietnam held a trade and investment matchmaking conference in Ho Chi Minh City on Wednesday as part of a scheme to promote partnerships between local businesses and Japanese enterprises.
Representatives from more than 50 businesses from Dong Thap and localities across Japan spent the event discussing the province’s investment potential, business strengths, and corporate climate.
At the event, Le Quoc Phong, chief of the provincial Party Committee, said that Dong Thap - Japan import-export turnover reached US$18 million last year and $20.5 million during the first eight months of this year, primarly due to heavy trade in footwear, fruits, fishery, rice, and collagen products.
Phong also pledged to support Japanese businesses who invest in the province.
Over the past several years, Dong Thap has made great efforts to improve its traffic infrastructure system to facilitate the transport of goods, including the development of the Cao Lanh - An Huu Expressway and two ports in the Tien River.
This 27.43km expressway, whose work began in late June this year, will start from an intersection linking with the My An - Cao Lanh Expressway in Dong Thap’s Cao Lanh District to another intersection connected to the Trung Luong - My Thuan Expressway section in southern Tien Giang Province’s Cai Be District, at an estimated cost of VND5.886 trillion ($242.8 million) backed by the state budget.
Once completed, the route is expected to reduce the time needed to travel between Dong Thap and Ho Chi Minh City by two hours.
Dong Thap has set multiple goals for the years ahead, including an annual growth target of 7-7.5 percent, and is expected by the Vietnamese prime minister to serve as a role model in modern rural development, sustainable agriculture, and smart farming, Phong elaborated.
|Le Quoc Phong (R), chief of the Dong Thap Province Party Committee; Pham Thien Nghia (L), chairman of the Dong Thap Province administration, chat with Japanese Consul General in Ho Chi Minh City Masuo Ono on the sidelines of the conference. Photo: Dang Tuyet / Tuoi Tre
According to Japanese Consul General in Ho Chi Minh City Masuo Ono, Japanese businesses consider Vietnam the second-most attractive investment destination, just after the U.S..
The Japanese diplomat suggested that Dong Thap consider launching a Japan Desk at the headquarters of the provincial administration to serve as a bridge between Vietnamese and Japanese businesses.
He also predicted that Dong Thap would attract increased investment in various sectors, such as farm produce processing, logistics, and tourism once its traffic infrastructure system is improved.
|Huynh Van Son (L), vice-chairman of the administration of Long An Province in southern Vietnam, presents a gift to Singaporean Consul General in Ho Chi Minh City Roy Kho for connecting Singaporean businesses with those in Long An. Photo: Son Lam / Tuoi Tre
In related news, Long An Province, near Dong Thap, on Wednesay held a seminar to promote cooperation between the province and Singaporean businesses.
The event was attended by Singaporean Consul General in Ho Chi Minh City Roy Kho, Vietnamese Trade Counselor in Singapore Cao Xuan Thang, and over 100 representatives of local and Singaporean enterprises.
According to the Singaporean diplomat, Long An is an important partner for Singaporean companies. He suggested both sides should focus on expanding business cooperation.
Several Singaporean firms at the event expressed interest in partnering with Long An businesses with expertise in logistics and digital transformation.
Huynh Van Son, vice-chairman of the provincial administration, said Singapore ranks first by foreign direct investment (FDI) in Long An with more than $4 billion invested, accounting for 37 percent of the total FDI from 40 countries and territories with investments in the locality.
The province pledged to create favorable conditions for Singaporean firms to expand their businesses in technology innovation, digital transformation, green energy transition, industrial infrastructure development, urban infrastructure development, healthcare, processing industries, and finance.