Japanese investors look for opportunities in Vinh Phuc

On January 8, Asia Group organised the Vietnam-Japan Investment Connection conference in the northern province of Vinh Phuc. The event attracted the participation of representatives and provincial leaders from Tuyen Quang, Phu Tho, Yen Bai, and Thai Nguyen, among others.

At the conference, the leaders of Vinh Phuc and Tuyen Quang provided information related to the potential of specific localities, sectors that are calling for investment, and the status of Japanese investors.

Bui Hong Do, director of Vinh Phuc Department of Culture, Sport and Tourism said, “Along with manufacturing and processing, the province is encouraging investors to promote the golf tourism sector. At present, the province has planned 14 golf courses, four of which are already in operation. There are favourable conditions for enterprises to invest in this sector.”

Do shared that the department has signed an agreement with South Korean business associations to implement this model. The programme is running between November 2022 and March 2023, and in December alone, it welcomed over 1,000 golfers. “If investors are interested in this model, the department will connect them with systems of hotels and resorts in the province and create favourable conditions to implement the projects,” said Do.

At the conference, the Research, Investment Promotion, and Business Support Centre of Vinh Phuc, Asia Group, VY Planning JSC, Vinh Phuc Trade Promotion Centre, Jink JSC, and Concele JSC signed an MoU to support and promote investment cooperation for business activities in the fields of industry, tourism, and commerce. The parties have the intention to develop several regional projects.

Vinh Phuc is a trusted investment destination for Japanese investors. Japan is currently the second-largest investor in Vinh Phuc with nearly 60 projects with the total investment capital of over $1.6 billion. Japanese projects mainly focus on automobiles, motorcycles, and other manufacturing.

Nguyen Hong Quang, director of Asia Group said, “We have 20 years of experience working and trading in Japan and we have a portfolio of partners who want to invest in the construction, manufacturing, and tourism sectors in Vietnam. Thus, the company expects to receive support from the authorities during the investment process.”

On the same day, Asia Group organised the opening ceremony for its office building located in the Nam Vinh Yen urban area in Vinh Yen city. In the coming time, the company plans to build an ecosystem for the golf sector that combines a chain of shops, indoor golf, an academy, a tour, and other events.

The company organised a golf tournament at Tam Dao Golf Club that attracted golfers from Vietnam and Japan. Seven awards were presented to the participants including two third prizes, two second prizes, two first prizes, and one for the best gross score.

Vietnam’s northern province of Quang Ninh is emerging as an attractive investment destination for foreign investors. Nakajima Takeo, chief representative of the Hanoi Office of the Japan Trade Promotion Organisation and vice president of the Japanese Chamber of Commerce and Industry in Vietnam, talked to VIR’s Minh Anh about Japanese interest in the area and the future trends ahead.

Japanese investors continue its expansion outside Japan via mergers and acquisitions activities with Vietnam being one of the preferred destinations in Southeast Asia. Masataka “Sam” Yoshida, head of the Cross-border Division of RECOF Corporation and CEO of RECOF Vietnam Co., Ltd., discussed with VIR’s Thanh Van the approach and strategies of Japanese investors to dealmaking in Vietnam.

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc and Governor of Toyama prefecture, Japan, Nitta Hachiro signed an MoU to deepen cooperation and economic exchanges, on December 19.

Japanese oil and gas driller Inpex has announced that it invested in a geothermal energy project in Indonesia and will study the potential to develop a power plant in the Southeast Asian nation.