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Vietnamese agriculture sees investment increase from Japan

Shanghai Daily | 10 March 2015

Vietnamese agriculture sees investment increase from Japan

Hanoi, (Xinhua) -- Vietnamese agriculture has been attracting Japanese firms to invest in high-tech projects, local media reported on Tuesday.

More and more Japanese enterprises and investors begin to pay attention to Vietnam's agriculture and food sector, said Tomoyose, agricultural attach of Japanese Embassy in Vietnam, in an interview with local Bao Dau Tu (Vietnam Investment Review), online newspaper under the Ministry of Planning and Investment ( MPI).

Vietnamese agriculture is of great potential due to three reasons: suitable soil and climate conditions, convenient geographical location to large markets like China and ASEAN countries and increasing demand for high-tech agricultural products, said Tomoyose.

Le Van Tu, a Vietnamese businessman, said Tuesday that his company is helping a Japanese partner seek business opportunity with a high-tech vegetable plantation plan in Hanoi.

Over the past few years, Tu's company has worked with many Japanese investors in agricultural projects in Vietnam, especially those in cow growing and vegetable planting. "One of the major reasons for Japanese investors to become more interested in Vietnamese agriculture is their projects are suitable for Vietnam's soil and climate conditions,"said Tu.

In a recent meeting with leaders of Vietnam's MPI, representatives of Japan's Bank of Tokyo-Mitsubishi UFJ said Japanese enterprises hope to provide Vietnam with their agricultural development knowledge, which helps increase added value for Vietnamese agricultural products.
Earlier in mid-May 2014, two Japanese companies named Always and Veggy traveled to Vietnam's northern Vinh Phuc province for a clean vegetable project.

Information from Japanese Embassy in Vietnam showed the two countries are developing a project"Medium and Long-term Visions In Agricultural Cooperation"which is expected to be approved in mid- 2015, reported Bao Dau Tu.

In the first two months of 2015, Japan ranked third among foreign direct investment (FDI) contributors to Vietnam with 169. 83 million U.S. dollars, accounting for 14.2 percent of total Vietnam's FDI, according to MPI.

A survey released by Japan External Trade Organization (JETRO) in early February showed that 66 percent of Japanese companies hope to expand operation in Vietnam and considered Vietnam as an important investment destination.
 

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