The Vietnam-Japan Friendship Industrial Park, inaugurated in Can Tho City, southern Vietnam in November 2018, has seen no enterprise developing factories although it has favorable traffic conditions and sufficient infrastructure facilities.
Located in Cai Rang District, the 30-hectare industrial park was designed to serve Japanese enterprises.
It is some five kilometers from the center of Can Tho City and eight kilometers from Can Tho International Airport and adjacent to an international port system along the Hau River.
However, no Japanese enterprise has built their factories in the industrial park.
They have made investments in the Tra Noc Industrial Park, also in Can Tho, said Pham Duy Tin, head of the Can Tho Export Processing and Industrial Zone Authority.
Can Tho is a centrally-managed city, so it is not entitled to preferential policies like other provinces, Tin added.
|The Vietnam-Japan Friendship Industrial Park in Can Tho City has no Japanese enterprise after nearly five years of inauguration. Photo: Le Dan / Tuoi Tre|
“Japanese enterprises are cautious. They study policies, traffic conditions, sectors, logistics costs, and land rentals before making investments.”
Tin added that many Japanese firms have expressed their keen interest in the VSIP (Vietnam-Singapore Industrial Park) Can Tho project, whose work will start soon in Vinh Thanh District, Can Tho City.
Can Tho City has attracted six Japanese-invested projects with a total registered capital of US$1.35 billion, accounting for nearly 60 percent of the total foreign direct investment in the city, according to the Can Tho Export Processing and Industrial Zone Authority.