Logo of Phnom Penh Post newspaper Phnom Penh Post - Japan sees VN as a top investment destination

Japan sees VN as a top investment destination

Content image - Phnom Penh Post
Workers at the Vietnam-based Misumi Group Company. Japanese firms consider Vietnam the most attractive investment destination in Asia in part due to its emergence as a production hub. SAIGON GIAI PHONG ONLINE/VIET NAM NEWS

Japan sees VN as a top investment destination

JAPANESE firms consider Vietnam the most attractive investment destination in Asia due to the country’s high economic growth, its position as a production hub and its large consumer market, according to an Asia News Network survey conducted from November 26 to December 9, 2018.

Among 630 respondents working for Japanese companies in East Asia, Southeast Asia, India and Australia, 35.7 per cent said Vietnam was the most promising economy for investment, Kyodo News quoted the survey as saying.

Japanese companies may consider expanding their businesses in Cambodia, Laos and Myanmar, but only after they open in Vietnam, a Japanese employee in the non-manufacturing sector in Vietnam said in the survey.

Meanwhile, 17.8 per cent of the respondents preferred India, making it the second most popular spot in the survey.

India has attracted Japanese investors with its high growth potential, according to the survey. They see potential because of the country’s increasing population and incomes as well as demand for new products prompted by environmental regulations.

In the survey, China was the third most popular investment destination, chosen by 7.9 per cent of the respondents, down from 12.6 per cent in the 2017 poll. The decline was likely due to the US-China trade war.

Thailand, the second largest Southeast Asian economy after Indonesia, stood at fourth, favoured by 7.3 per cent of the respondents. It was up from seventh the previous year thanks to an economic recovery led by the automobile sector. VIET NAM NEWS/ANN

MOST VIEWED

  • Man arrested for fake PM endorsement

    The owner of currency exchange company GCG Asia Co Ltd was temporarily detained by the court yesterday for attempted fraud after Prime Minister Hun Sen reacted to the company using his name and pictures to allege his endorsement of the firm. Phnom Penh Municipal Court

  • Archeologists find ancient phallic statue

    An archeological team has found a metre-long tipless stone linga (penis) of the Hindu deity Shiva in the foundations of a temple in Kratie province’s historical Samphu Borak area, a former capital of the pre-Angkor Empire Chenla period. Thuy Chanthourn, the deputy director of

  • Sihanoukville authority orders structure dismantled

    The Preah Sihanouk provincial administration has ordered owners of two unauthorised construction sites to immediately dismantle them and warned of legal action if the owners failed to comply. Ly Chet Niyom, development management and construction bureau chief at the provincial hall, told The Post on

  • China steel company relocates to Cambodia

    Chinese state-owned iron and steel company China Baowu Steel Group Corp Ltd has unveiled plans to relocate its blast furnaces from Xinjiang Autonomous Region in the northwest of China to Cambodia, which will be the first overseas Baowu production plant, a Reuters report on Wednesday