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The Ambassador Extraordinary and Plenipotentiary of Japan said that so far, 37 companies have announced that they want to move production to Vietnam.
At the Japanese Business Dialogue Conference in the afternoon of December 21, Japan’s Ambassador Extraordinary and Plenipotentiary Yamada Takio said that there were 22 more Japanese companies under the government’s supply chain diversification program. choose Vietnam as your destination.
The Japanese Ambassador to Vietnam, Yamada Takio, shared at the dialogue conference with Japanese companies in Hanoi on the afternoon of December 21. Image: VGP.
“Vietnam is at the forefront of where Japanese companies promote supply chain diversity,” emphasized Mr. Takio. In addition to the first time it was announced in July, currently 37 of the 81 Japanese companies participating in the program want to invest in Vietnam. Thailand is currently the second ranked country when selected by 19 companies.
According to Takio, while many countries are fighting Covid-19, Vietnam has successfully controlled the epidemic and is one of the few economies with positive growth in 2020, estimated at 2.48%. In the first 11 months of this year, the total value of Vietnam’s exports reached $ 489 billion, 3.5% more than in the same period last year. “In the world, only Vietnam has achieved such great success,” he said.
As a result, Vietnam has increased its attractiveness in the eyes of investors, including Japanese companies. The Japanese ambassador stressed that the Japanese government is “making efforts” to help Japanese companies invest in Vietnam, but the $ 2.3 billion support package from the support chain diversification program is one example.
List of companies transferring production to Vietnam
In July, the Japan Trade Promotion Organization (Jethro) Hanoi confirmed that 15 of the 30 companies receiving financial support in the ASEAN diversified supply chain project chose to come to Vietnam.
Most of the companies that received grants to go to Vietnam were in the field of medical equipment manufacturing. In addition, there are a number of companies that manufacture components related to semiconductors, telephone components, air conditioners or power modules … In this list, the Hoya Group that makes hard disk components is expected to move. Chinese production activities to Vietnam and Laos.
According to Jetro’s announcement, the amount of the subsidy ranges from 100 million to 5 billion yen, partially offsetting the costs necessary to purchase and install machinery and equipment for the expansion of production.
Japan has significantly stepped up the program to encourage companies to build bases in Southeast Asia to diversify the capital supply chain. The Japanese government will pay half the cost of investment for large companies and up to two-thirds for smaller ones. Subsidies apply to products that tend to be concentrated in one country. The measure is intended to help companies expand their operations in countries, rather than inciting them to leave any country.
Duc minh
