Investment promotion activities of Vinh Phuc province in Akita, Japan

Continuing investment promotion program of the province in Akita Prefecture, Japan, on March 17,2015, with the support of Akita Prefecture, Japan External Trade Organization (JETRO) in Akita, Trade promotion Association of Akita, overseas investment assistance Association of Akita, Towada Audio Co., Ltd (Japan), provincial delegation led by Phung Quang Hung, Deputy Secretary of provincial Party Committee organized successfully the investment promotion seminar in Akita Prefecture with the participant of nearly 60 associations, Akita’s enterprises. Attending the seminar included Mr. Nguyen Van Ba, Consular in charge of investment and Representative of Vietnam Embassy in Japan.

Previously, with the support of Akita government, investment promotion delegation of Vinh Phuc province had practical survey, a number of agricultural production models and projects on social culture development of Akita Prefecture. Speech for welcome workshop, representatives of Akita Prefecture government have appreciated the significance and importance of investment promotion seminar for businesses Akita, considering it is a good opportunity for investors and businesses Akita looking for information about the investment climate and business in Vietnam in general and in particular of Vinh Phuc province. At the workshop, Akita Prefecture government representatives also provides information about the relationship between the two provinces, had good first step that agreed to sign a overall memorandum of understanding cooperation between the two provinces on the March 16, 2015, this workshop is one of the  activities agreed in the Memorandum of Understanding between the two provinces and look forward to following workshop, in the future, Vinh Phuc province will continue to organize meetings and contacts with businesses to promote investment activities and transactions of Akita in Vinh Phuc and vice versa.

On behalf of Vinh Phuc delegation, Mr. Phung Quang Hung, Chairman of Vinh Phuc People’s Committee spoke warmly welcome businesses and investors’s Akita Prefecture attended the provincial Investment Promotion Conference and respect thank the effective support of Akita Prefecture, Investment Promotion Association, Vietnam Embassy in Japan, had supported Vinh Phuc province to hold the workshop in Akita Prefecture, Japan. Next, Mr. Phung Quang Hung had a brief introduction on socio economic development, business investment environment of Vinh Phuc province as well as the FDI investment attraction results, potential and strength, development investment opportunities for Japan business in general and Akita enterprises in particular when invested in Vinh Phuc province.  He confirmed that Vinh Phuc province always work closely with investors, the province will create a favourable condition on administrative procedure not only in the process of project establishment but also during business production activities, Investors in Vinh Phuc province will be supported in investment process and quickly settlement under “One stop service” mechanism at Vinh Phuc Investment Promotion Agency, reduction 1/3 settlement time of administrative procedure compared to Vietnam Government regulation. On this occasion, Mr. Phung Quang Hung was invited Akita Prefecture’s businesses  come to find out the actual conditions of the technical infrastructure of the province, investment and business environment of the province in the shortest time.

Next, Mr.Masakazu Gamo, Chairman of Towada Electronics Company has speech sharing experience for business of Akita Prefecture to invest in Vietnam. Mr. Masakazu Gamo highly appreciated on investment environment of Vietnam, especially administrative procedure on investment to be quickly resolve and convenient, from provincial leader to people was very interested and created the good condition for project. This is the firm with 10 years of experiences in business investment in Vietnam market.

After speech’s Chairman, there were a number of Akita enterprises interesting in the investment procedure and province’s incentive policies, human resources supply, the conditions and incentives to build house for workers, some investors questioned regarding the opportunities and challenges of Vietnam when joining the Trans-Pacific Partnership Economic Agreement (TPP), which affect investment policy or not? In this context, Mr. Nguyen Van Ba, Counsellor in charge of investment, Vietnam Embassy in Japan, shared and provided information to businesses of Akita Prefecture. The content was related to investment environment and provincial investment incentives policies, on behalf of the working mission, Mr. Phung Quang Hung have answered specifically each question of Akita businesses. This is the province’s Investment Promotion Seminar was held second at Akita, was a great success and good impression for businesses Akita Prefecture.