Government and enterprise delegation from Akita Prefecture, Japan visiting and exploring investment climate in Vinh Phuc province

In May 2012, the investment promotion delegation of Vinh Phuc province led by Mr Phung Quang Hung – Chairman of the People’s Committee, held an investment promotion conference in Akita Prefecture and in other 02 places of Japan. In Akita Prefecture, as per the conversation with Vinh Phuc Delegation, Mayor – Mr. Norihisa Satake informed that Akita Delegation would travel to Vietnam to explore the investment climate and opportunities in Vinh Phuc province in 2013.

In this working visit, Akita Delegation includes 38 members who are the representatives of Chamber of Commerce and Industry, Trade Promotion Association, Akita Engineering and Heavy Industry Association, universities, media – television agencies and of nearly 30 manufactures, service and business enterprises in some areas and business lines on which Vinh Phuc province is focusing to lure investment. The Delegation is led by Mr. Satoru Kamata – Deputy Director of Akita’s Department of Labor and Industry. 

At the meeting, Mr. Phung Quang Hung presented some potential and advantages on the nature, economy, society, human resourses and special investment incentive policies of Vinh Phuc province to investors. Accordingly, in addition to the general investment incentives provided by the State of Vietnam, Vinh Phuc province has its own policies providing further incentives and support to investors, such as: building critical infrastructure to the fence of Industrial Zones; imposing a minimum rate on land rental for cost reduction; performing administrative procedures under OSS (one-stop- service) mechanism through Investment Promotion Agency within a shorter time than from one third to one half of those stipulated by laws; providing fee exemption and financial support to prepare the application for investment projects in supporting industry; and allocating cleared land to investors, … The encouraging business lines and investment sectors comprise supporting industries for automotive, motorcycle and electronic products; investing in infrastructure of industrial zones; education and training services; health care services, … In addition, Mr. Phung Quang Hung gave satisfactory answers to the questions concerned by members of Akita Delegation.

Mr. Satoru Kamata on behalf of his Delegation thanked Vinh Phuc authorities for the warm welcome and gracious hospitality extended to them during their visit and provided some basic information about Akita Prefecture. Akita is a prefecture  located in the north of Japan with a population of about 1.5 million people; and has industrial strengths in mechanical engineering, electronics, environmental technology, renewable energy and agricultural and forestry product processing.

Up to now, there are 12 enterprises from Akita Prefecture which have invested in Vietnam. The Akita’s enterprises also expressed their wish to invest in Vinh Phuc province and suggested Vinh Phuc’s authorities to create favorable conditions and support for Akita’s investors.

The working visit of Akita Delegation to the Vinh Phuc province on the occasion of the 40th anniversary of the establishment of diplomatic ties between Vietnam and Japan is not only significant for investment cooperation, but also strengthens good relationship between Vinh Phuc province and Akita Prefecture in particular or between Vietnam and Japan in general.