Creating favorable conditions for Japanese businesses to invest in Hanoi

17/03/2017

That is the confirmation by Chairman of Hanoi People’s Committee Nguyen Duc Chung at the meeting with Mr. Takebe Tsutomu- Special Advisor of the Japan-Vietnam Friendship Alliance on March 16th. At the meeting, there were senior leaders of NIDEC group, representative of the Japanese Embassy in Vietnam.

Having many years in the Cabinet of Japan and being in Vietnam for 25 years, at the meeting, Special Advisor Takebe Tsutomu expressed his pleasure towards the growing relationship between Japan and Vietnam. Simultaneously, he hoped to introduce big corporations of Japan to invest in Hanoi. "I would like to introduce a lot of Japanese businesses to invest in Hanoi, on the basis of trustworthy allies" said he.

Chairman cum CEO of NIDEC Group Nagamori Shigenobu said that, over 40 years of operation, NIDEC has achieved turnover of US $ ten billion ; many factories in 33 countries (mostly in Asia), about 160.000 employees, mainly supplying high-end essential products and accessories to large corporations such as Canon, Samsung. By 2030, tt is expected to invest in plants in 75 countries.

          In Vietnam, NIDEC currently has nine subsidiaries with a total investment of over US $ 500 million and an annual turnover of US $ 600 million. In Hanoi, NIDEC invested $ 6 million into one company with, turnover of $ 12 million per year, dealing with 400 employees. According to the Chairman of NIDEC, NIDEC's investment rate in Hanoi is too small. He wanted Hanoi to facilitate and support NIDEC when they invest here. "In the coming time, NIDEC will continue to invest US $ 100 million in Vietnam to implement some other projects," said NIDEC Chairman.

          Acclaiming the sentiments and aspirations of the Special Advisor Takebe Tsutomu and Chairman of NIDEC Group, Chairman of Hanoi People’s Committee Nguyen Duc Chung affirmed that Hanoi always respects investors from Japan who are present early and contribute to the development of Vietnam and Hanoi Capital.

Exchanging about related issues, Chairman of Hanoi People’s Committee Nguyen Duc Chung affirmed that Hanoi City has four advantages for Japanese investors. There are human resource, which are the most highly-trained across the country, preferential tax policy, including land tax, income tax, especially infrastructure, with three industrial parks: 70 ha ones ( Vo Nguyen Giap street- connect Noi Bai international Airport), an 450-ha industrial park is located next Noi Bai international Airport ; Dong Anh Industrial park…’’ Those industries zones are only about 3-5 km away from the airport, creating many advantages for investors. To NIDEC Group, the city ensured to provide the necessary information and complete necessary investment procedures within a week. Chairman of the Hanoi People’s Committee confirmed and assigned Director of Foreign Affairs Department to providing the corporation with the necessary investment information.

Special Advisor Takebe Tsutomu and Chairman of NIDEC Group believed that, given the commitments made by Chairman of Hanoi People’s Committee, it will open new opportunities for NIDEC Group anf Japanese businesses to invest in Hanoi.