Japanese companies have pledged USD1 billion into Hanoi during Prime Minister Nguyen Xuan Phuc’s on-going visit to Japan. Hanoi People’s Committee Chairman Nguyen Duc Chung had a meeting with representatives from major Japanese firms. The signing ceremony for investment memoranda of understanding between Hanoi and Japanese companies At the investment promotion into Vietnam forum held in Tokyo during the PM’s trip, Chung signed three memoranda of understanding worth USD1 billion. Meiko Electronics will pour an additional USD200 million to expand its project at Thach Thach-Quoc Oai Industrial Park. Meiko will also consider spending USD300 million on carrying out its new high-tech projects in the city. Meanwhile, Aeon Mall Vietnam Ltd. Co. has planned to build shopping centres in Hoang Mai and Bac Tu Liem districts. Taisei Rotec wants to build a plant in Hanoi to provide road surface maintenance and repair services. At the event, Chung also … [Read more...] about Japanese investors pledge USD1-billion investments into Hanoi
Japanese road signs
Nam Long corporates with Japanese Nishi Nippon Railroad in $306.5 million project
Nam Long Group on July 14 signed the strategic agreement with Japanese investors joining in phase 1 development of Waterpoint Township in the southern province of Long An, a 45-minute drive from Ho Chi Minh City downtown. According to the agreement, Nam Long, Japanese investors - Nishi Nippon Railroad, TBS Group and Tan Hiep Investment Co Ltd will contribute to the total investment capital of VND6.9 trillion ($306.5 million) to implement phase 1 of Waterpoint Township with the estimated stake holdings of 50 per cent, 35 per cent, 10 per cent and 5 per cent respectively. This project will secure the sustainable development of Nam Long in the next 5-10 years. Nam Long corporates with Japanese Nishi Nippon Railroad in $306.5 million project According to Steven Chu Chee Kwang, general director of Nam Long, this was one of the most significant milestones of the corporation, proving internal strength, the ability to develop the real estate ecosystem, the ability to unlock the land … [Read more...] about Nam Long corporates with Japanese Nishi Nippon Railroad in $306.5 million project
Japanese helicopter carrier to tour South China Sea, Indian Ocean
Japan will send a large helicopter carrier to the South China Sea and Indian Ocean for a second straight year as it looks to bolster its presence in the strategic maritime region with annual tours, two Japanese officials said. “This is part Japan’s efforts to promote a free and open Indo-Pacific,” said one of the officials, who has direct knowledge of the plan for a two-month tour beginning in September. The 248 meter-long (814 ft) Kaga, which can operate several helicopters simultaneously, will make stops in Southeast Asian countries such as Indonesia and at ports in India and Sri Lanka, said the sources who asked not to be identified because they are not authorized to speak to the media. The Kaga, which will be accompanied by an escort ship, may also conduct ad hoc joint drills with warships from other counties in the region, they said. Japan last year sent its sister ship, the Izumo, on a similar tour of the contested South China Sea and the Indian Ocean. A … [Read more...] about Japanese helicopter carrier to tour South China Sea, Indian Ocean
Vietnam sees sluggish rise in Japanese tourist arrivals
Vietnam sees sluggish rise in Japanese tourist arrivalsBy Dao Loan Japanese tourists in HCMC - PHOTO: DAO LOAN HCMC – The number of tourists from Japan, despite being the third-largest source market for Vietnam’s tourism sector, has shown weak growth in recent years, lagging far behind arrivals from Vietnam’s two leading markets, China and Korea. Data from the Vietnam National Administration of Tourism indicate that while Chinese and Korean tourist arrivals have surged in the past four years, Vietnam has seen the number of Japanese tourists barely rise. The growth rate has slowed over the years. In 2014, over 647,000 Japanese visitors came to the country, up 7.3% year on year; then the tempo slowed down, rising by a mere 3.6% in 2015 to more than 671,000 arrivals; but the growth rate recovered somewhat, rising 10.3% in 2016 to over 740,000 tourists. Vietnam, in 2017, welcomed 789,000 Japanese travelers, up 7.8%, and saw a slight increase of a mere 6.6% over … [Read more...] about Vietnam sees sluggish rise in Japanese tourist arrivals
Potholes lie ahead for China’s Belt and Road Initiative in Vietnam
Vietnam, which is included in China’s Belt and Road Initiative’s (BRI) geographical scope and has a great need for infrastructure investments, stands to benefit from the initiative. According to the 2017 Global Infrastructure Outlook report published by the Global Infrastructure Hub, Vietnam’s need for infrastructure investment between 2016 and 2040 amounts to $605 billion. Notably, the gap between investment need and current trends of investment is a staggering $102 billion, meaning that Vietnam will have to actively seek different sources of funding to cover the gap. Vietnam has therefore endorsed the BRI as it may become an important source of funding that Hanoi may want to tap in the future. During President Xi Jinping’s visit to Hanoi in November 2017, the two countries signed a Memorandum of Understanding (MOU) on promoting connections between the “Two Corridors, One Belt” framework (TCOB) and the BRI. The signing of the MOU, however, … [Read more...] about Potholes lie ahead for China’s Belt and Road Initiative in Vietnam