Many Japanese firms plan expansion in Vietnam: JETRO poll

By VNA   February 9, 2023 | 07:00 pm PT
Many Japanese firms plan expansion in Vietnam: JETRO poll
Cat Lai Terminal in Ho Chi Minh City. Photo by VnExpress/Thanh Nguyen
Sixty percent of Japanese investors in Asia-Pacific polled in a 2022 survey by the Japan External Trade Organization (JETRO) said they plan to expand operations in Vietnam within the next two years.

The rate is the highest in ASEAN and third in Asia-Pacific only after India and Bangladesh.

Another survey of JETRO also revealed Vietnam ranks only after the U.S. as a favorite destination for investment for Japanese companies.

JETRO said Japanese businesses’ expectation of higher revenue is based on the Vietnamese market’s current export expansion and growth potential.

Most small- and medium-sized enterprises in the group want to expand their activities in the non-manufacturing industry.

Also according to the poll, conducted in August and September last year, the prospect of business profit in Vietnam in 2022 recovered strongly after the Covid-19 pandemic, especially regarding the sectors of production - consumption and direct services.

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