Japanese businesses regard VN as priority for operation expansion

Japanese businesses regard VN as priority for operation expansion

VGP – Viet Nam surpassed China to stand first among nations and territories destined for Japanese businesses’ overseas expansion.

Illustration photo

According to a survey from Teikoku Databank,a private company engaging in corporate credit research and market research, 10.9% of the Japanese businesses regards Viet Nam as the most crucial production location while only 6.9% select China.

The survey was conducted in September at 23,000 enterprises.

Interior decoration, garment and information technology were interested by Japanese businesses due to its low expenditure, young laborers and high competence in Viet Nam.

Viet Nam ranked fourth among the top markets of Japan, after China, the US and Thailand.

Recently, the Japan External Trade Organization (JETRO) revealed that 30% of the Japanese businesses with overseas investment intention consider Viet Nam as the prime destination.

In the JETRO’s report released in this year’s February, Viet Nam has become the priority for Japan’s investors, exceeding big competitors in attracting investment including Thailand, Indonesia and the Philippines.

As many as 70% of the Japanese enterprises has made plans to expand their operation in Viet Nam this year.

By Thuy Dung

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