VINACHEM

The event was designed to attract more Japanese investment.

Speaking at the function, Ambassador Nguyen Phu Binh reviewed the most outstanding socio-economic achievements in Viet Nam in the recent past.

Despite the impacts of the global financial crisis in 2009, Viet Nam sustained an economic growth rate of 5.32 per cent and became one of just 12 economies in the world to record positive GDP growth rates.

Viet Nam was projected to have an even higher growth rate this year thanks to rising industrial output and export turnover, Binh said.

He underlined the recent robust development of the Viet Nam-Japan strategic partnership and reckoned that "this is a good time to strengthen investment and trade relations between the two countries".

" Viet Nam is a lucrative market for Japanese businesses," said Viet Nam's Counselor for Investment Le Huu Quang Huy.

According to Huy, Japanese companies would enjoy many advantages when investing in Viet Nam, considering its political stability, abundant workforce and low-cost labour.

The government of Viet Nam has introduced many incentive policies for foreign investors and improved the equality and transparency of its business environment, especially after its accession to the World Trade Organisation.

The demand for developing infrastructure in Viet Nam had grown dramatically, he said, adding that this was a good opportunity for Japanese entrepreneurs who possess advantages in capital and technology.

Asides from this meeting, the Vietnamese embassy has joined hands with Japan's International Friendship Exchange Council (FEC) to organise bimonthly Japan-Viet Nam economic forum.

(Source: VNS)