Business support activities will create their own advantages in attracting investment.

Creating spillover in investment

Japan is one of the countries with large sources of investment capital and ODA funding for Vietnam, including Thua Thien Hue. In recent times, many ODA projects from Japan invested in Thua Thien Hue have created positive effects, effectively serving the goals of economic and social development, including the projects: Construction of Hue Central Hospital according to international standards; natural disaster prevention and control projects, and the Hue Monuments Restoration Program.

Enterprises with Japanese capital have also contributed greatly to the budget as well as created a competitive advantage for Hue . According to data from the Department of Planning and Investment, in Thua Thien Hue, there are currently 136 FDI projects, with a total registered capital of 4,600 million USD, of which 20 FDI projects are invested by Japanese enterprises, with a total registered capital of 248 million USD, accounting for 15% in quantity and 5.4% in FDI capital of the whole province. Of which, the provincial Economic and Industrial Zone has 7 projects, with a total investment capital of 54 million USD, mainly attracting enterprises operating in the fields of garment, mechanics, plastic production, and adhesives. Outside the provincial Economic and Industrial Zone, there are 13 projects, with 194 million USD operating in the fields of information technology, trade centers, and wine production.

These enterprises have made significant contributions to the economic and social development of the province. In 2023 alone, the revenue of Japanese enterprises was over 14 million USD, creating jobs for 2,000 workers. Among them, the garment project of MSV Company Limited created jobs for over 1,090 workers; the information technology project of Brycen Company Limited employed over 360 IT workers...

In addition to contributing to increasing budget revenue and creating jobs, Japanese investors with their prestige and strengths in the technology sector have also stimulated investment resources, created competitive pressure, promoted innovation and technology transfer; developed supporting industries, and encouraged local enterprises to participate in the global production value chain. At the same time, these enterprises have also contributed to creating a large spillover effect in investment activities.

Looking at the recent activities of the AEON MALL Hue Commercial Center project of AEONMALL Vietnam Co., Ltd., we can partly see that. When this project was put into operation, it attracted major Japanese brands and famous brands in the world to Hue such as: Aeon Vietnam Supermarket, Muji Supermarket, Uniqlo... creating more highlights in attracting investment, developing trade, promoting tourism...

On-site investment promotion

According to Mr. Phan Quoc Son, Deputy Director of the Department of Planning and Investment, to achieve the above investment attraction results, the province has implemented many innovative solutions in investment promotion activities, investment attraction and incentive policies. Among them, it is necessary to mention the work of supporting investors to create an open, transparent, favorable and effective investment environment.

Provincial leaders are also willing to meet, dialogue, and contact businesses and investors to listen, discuss, and resolve difficulties to support investors in the process of implementing projects in the area. Investment projects in the province are also applied the highest preferential policies of the locality as well as the Investment Law, such as: Commitment to support infrastructure to the fence of projects; support in providing labor resources, training local labor resources.

Perhaps that is why recently, Thua Thien Hue has continuously welcomed many Japanese enterprises to Hue to explore investment opportunities. In early October, a delegation from the Vietnam Business Association in Japan (VJBA) also came to Hue to seek investment opportunities. This shows that Japanese enterprises have been paying attention to Hue, putting Hue in their investment sights.

Ms. Tong Thi Kim Giao, President of the Vietnam Business Association in Japan, said that with the goal of promoting the building of a sustainable business environment and ensuring long-term development for member enterprises, the Association has increased its connection activities with many localities, especially Thua Thien Hue, helping Japanese enterprises seek investment opportunities in Hue, especially investment opportunities in the production of precious raw materials and medicinal herbs to develop pharmaceutical and cosmetic products; promote trade and export; tourism...

Meetings like the one mentioned above are not only an opportunity for Thua Thien Hue to introduce its strengths and preferential policies for investment, but also an opportunity for businesses to access investment advantages and share investment needs. From there, businesses can propose new projects, innovate investment promotion activities, and create a competitive advantage for Hue compared to other localities in the region.

Mr. Phan Quoc Son informed that Thua Thien Hue is focusing resources on investing in developing infrastructure and connecting traffic systems to create the most favorable conditions to attract FDI investors. Particularly for Japanese enterprises, Thua Thien Hue hopes that enterprises will research and invest in infrastructure of economic zones, industries, processing, manufacturing, electronics, automobile manufacturing; invest in high-tech zones for pharmaceuticals, biology, medicine, information technology, agriculture, etc.

To support investors, in addition to establishing the Provincial Center for Trade and Investment Promotion and Enterprise Support to accompany investors from the investment research stage to project implementation, Thua Thien Hue also opened the FDI Club office, established FDI branches of other countries, regularly organized meetings and dialogues to create connections and mutual support among FDI enterprises. Thereby, promoting on-site investment promotion, promptly removing proposals, recommendations, difficulties and obstacles of enterprises and investors to create a friendly and open investment and business environment.

Hoang Loan