Vietnam, Japan enhance support industry cooperation

Japan’s Onaga company recently received an investment certificate for an aeronautical and automotive component manufacturing plant in the Hanoi Southern Support Industrial Park (HANSSIP). The plant is expected to be put into operation in 2023 and encourage Japanese enterprises to expand investment in Vietnam’s support industries.

Potential market

The International Digital Services Vietnam Co. Ltd (IDS) – a partner of Onaga, also received a business registration license in HANSSIP. Onaga, IDS, and a group of Vietnamese support enterprises signed an agreement on consultancy and technology transfer cooperation.

According to Onaga , the Vietnamese market has huge potential for support industry development. Vietnam annually imports about US$100 billion worth of automobile and motorcycle parts and components, and machinery of all kinds. With win-win cooperation, Onaga will share its know-how, experience and techniques with Vietnamese businesses, the company said.

Nguyen Thu Hong, CEO of Vietnam-Japan Industrial Development and Manufacturing Joint Stock Company (Indema), a signatory to the partnership agreement with Onaga, said her company seeks to approach foreign technology, improve workforce quality, make better products and join the global supply chain.

vietnam japan enhance support industry cooperation

Ceremony to present investment certificates to Japanese investors

Great expectations

According to Do Nhat Hoang, Director of the Ministry of Planning and Investment’s Foreign Investment Agency, foreign direct investment is growing in Vietnam’s high-tech industry, digital economy, digital transformation, and electronic component and semiconductor chip manufacturing. The government, ministries, sectors and localities are preparing to attract more investment in those fields, Hoang said. The capital Hanoi has necessary infrastructure and high-quality human resources to attract high-tech, innovation and digital transformation projects, he added.

vietnam japan enhance support industry cooperation

Foreign direct investment is growing in Vietnam’s high-tech industry

Large corporations will bring their supply chains to Vietnam while looking for investment locations with available supply chains and support industry ecosystems, Hoang said. The growing number of domestic and foreign investors in Vietnam’s support industries will make the country more attractive to leading foreign investors, he said.

Le Quang Long, Head of the Hanoi Industrial and Export Processing Zones Authority said that the city will create the best conditions for Japanese businesses in particular and foreign enterprises in general, as well as Vietnamese support industry companies, to cooperate in production development. Promoting administrative procedure simplification and helping businesses recruit and train high-quality workforces are among the authority’s efforts.

Hanoi will provide support for infrastructure investors to help HANSSIP become an efficient and exemplary support industry industrial park, Long said. Adequate infrastructure and the urban service area in the industrial park will be developed to serve production and trading in the zone, he said.

Matsumoto Izumi, First Secretary of the Japanese Embassy in Vietnam: Preferential investment attraction policies and simplified investment licensing procedures will pave the way for Japanese enterprises to invest in HANSSIP.

Nguyen Hanh

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