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Task Force, a Japanese investment promotion group, on Dec 18 urged Ideal, authorities in the southern focal economic zone to provide prospective Japanese investors with a list of companies capable of supplying their needs for reference before taking th e decision to invest. 

Shigeo Naruse, managing director of the Japan External Trade Organization (Jetro) in HCMC and head of Task Force, said HCMC, Dong Nai, Binh Duong and Ba Ria-Vung Tau should compile a list of equipment and material suppliers to encourage more Japanese in vestment. 

According to a recent meeting of Japanese investors to discuss the investment climate, HCMC is losing out to China’s Shenzhen where materials are 10% cheaper, Naruse told a meeting with the HCMC Service of Planning and Investment, Service of Trade, and Industrial Park and Export Processing Zone Authority. 

Jetro consultant Kyoshiro Ichikawa said local authorities should create favorable conditions to promote trade exchanges between Japanese and Vietnamese companies for mutual benefit. 

“Japanese manufacturers of electronic and motorcycle components in the city’s industrial zones are required to export 80% of output while domestic assemblers have to import these components from other countries,” Ichikawa said, and he proposed that comp onents purchased from the Japanese companies be calculated as local content to promote trade. 

“Most Japanese companies plan to invest in high-tech industries in Vietnam, so good electricity supply and modern waste treatment facilities will count when they consider their investment destinations,” Ichikawa said. 

in the first eleven months of the year, 31 Japanese projects with combined registered capital of US$ 1 5 1 million were licensed in Vietnam, compared with 27 projects capitalized at US$8 1 million in all of 2000. 

The newcomers brought the aggregate number of Japanese projects in Vietnam to 3 27 worth US$4.06 billion, making that country the third largest investor in Vietnam after Singapore and Taiwan in terms of pledged capital. However, if realized capital coun ts, Japan is the largest investor with US$2.95 billion, according to Ichikawa. 

Task Force was established by the Japan Business Association and the services of planning and investment of HCMC, Dong Nai, Binh Duong and Ba Ria-Vung Tau.

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