Khanh Hoa continues attracting investment from Japan

Japanese enterprises are effective and potential investment partners for Khanh Hoa. Therefore, in the coming time, the People's Committee of Khanh Hoa Province will continue to have investment promoting activities to open up cooperation opportunities for businesses of both sides.

As strategic investor

Over the past time, Japan has been one of the traditional export markets with a large turnover of Khanh Hoa province. Japanese enterprises are also effective investment partners with large capital in the province. Among 119 FDI projects in Khanh Hoa, there are only 7 projects of Japan, but they accounts for more than 61% of the total registered investment capital (about 2.7 billion USD/4.39 billion USD). In which, Van Phong 1 BOT Thermal Power Plant, invested by Sumitomo Group with a capacity of 1,320MW and a total registered capital of 2.58 billion USD, has now put unit 1 into operation and is expected operate unit 2 in August. This is very significant as the processing and manufacturing industries are facing many market difficulties, Van Phong 1 BOT Thermal Power Plant goes into operation and trial run, which is expected to make the production index of the electricity industry increase by 54.65% over the same period last year, contributing to the growth of the industrial sector in the first 6 months of the year at 6.36%.

Van Phong 1 BOT Thermal Power Plant invested by Japanese enterprise

In previous years, provincial leaders have organized many times to promote investment activities with Japanese enterprises. Some Japanese businesses have asked Khanh Hoa to open a tour in Nha Trang; Khanh Hoa province signed a memorandum of understanding between the Japanese working group and the Blue Marine Human International Company Limited and H.Mlaboratory Co., Ltd. Nanotek International also proposed  researching in two projects of electric vehicle equipment factory with an investment of about 125 million USD and infrastructure in Ninh Tho Industrial Park with an investment of about 75 million USD. However, for the outbreak of the Covid-19 epidemic, these activities have been interrupted, previous agreements have not been implemented.

Investment promotion conference to be held in September

Identifying Japanese enterprises as important partners, recently, the People's Committee of Khanh Hoa Province has resumed investment promotion activities. The main areas calling for investment are industry, high-tech agriculture, infrastructure development, tourism linking, such as manufacturing household appliances, energy equipment, precision mechanics, automobile assembly, agro-forestry-fishery processing, shipbuilding, seaports, logistics...; attracting investment in Van Phong Economic Zone, promoting investment, cooperating in developing services and tourism, opening direct flights to Japan. At the same time, the province supplies more information for the business community in Japan to understand the potentials, strengths, needs and desires of Khanh Hoa for investment cooperation.

Van Phong Economic Zone calling for investment

Chau Ngo Anh Nhan - Deputy Director in charge of the provincial Department of Planning and Investment said that the Khanh Hoa - Japan investment promotion conference is expected to be held in Nha Trang, in direct and online form on the Provincial Investment Promotion Portal, with the participation of about 300 delegates from ministries, central branches, provincial leaders and businesses in the area. On the Japanese side, there were the participation of embassies, consulates, trade promotion organizations, associations and Japanese enterprises. The program will focus on introducing an overview of Khanh Hoa province, Van Phong Economic Zone and orientation to calling for investment, production and business activities of Japanese enterprises in Khanh Hoa; sign a memorandum of understanding on investment promotion activities in the coming time... In addition to the main activities, there will be also side activities, such as visiting relics, scenic spots and tourist attractions, playing golf, surveying a number of production facilities producing typical products, potentials and strengths of Khanh Hoa...

Le Huu Hoang - Standing Vice Chairman of the Provincial People's Committee affirmed that Japan is an important and strategic partner in investment of the province. Over the years, the Provincial People's Committee has organized many promotional activities with Japanese enterprises and has obtained certain results. The investment promotion conference with Japanese enterprises is expected to be held from September 8 to 10, which is one of the important activities of the series of events to celebrate the 50th anniversary of the establishment of diplomatic relations between Vietnam and Japan (September 21, 1973 - September 21, 2023).

LE HUU HOANG - Standing Vice Chairman of Khanh Hoa Provincial People's Committee: The Department of Planning and Investment must closely coordinate with relevant units to complete the plan to organize an investment promotion conference in Khanh Hoa - Japan. He has assigned the Department of Planning and Investment, the Management Board of Van Phong Economic Zone to prepare the cooperation signing activities; the Department of Tourism, the Department of Culture and Sports jointly organize side activities, such as sightseeing, golf tournament, art performances...; The Department of Industry and Trade and the Young Entrepreneurs Association is assigned to cooperate in organizing the exhibition of booths; Nha Trang City People's Committee prepares to decorate the city, ensures security and order...

7 Japanese enterprises have invested in Khanh Hoa, namely: Saigon Pearl Company Limited (total capital of 5 million USD), Yamato Food Company Limited (total capital of 4 million USD), Fujiura Nha Trang Co., Ltd (total capital of 650,000 USD), Anh Dao Food Company (total capital of 5 million USD), Taisho Vietnam Co., Ltd (total capital of 11.8 million USD), Saigon Nha Trang Joint Venture Company (total capital of 7.8 million USD) and Sumitomo Group invested in Van Phong 1 BOT Thermal Power Plant (total registered capital of 2.58 billion USD).

Dinh Lam

Translated by T.T