The province is the destination of FDI projects, in which the capital from Japan leads in the number of projects as well as total investment capital. The projects after being licensed for investment have quickly implemented production and business activities. The performance of Japanese investors in the province is quite good, exports turnover always accounts for a large proportion and they strictly comply with the obligation to pay to the state budget....

The province is the destination of FDI projects, in which the capital from Japan leads in the number of projects as well as total investment capital. The projects after being licensed for investment have quickly implemented production and business activities. The performance of Japanese investors in the province is quite good, exports turnover always accounts for a large proportion and they strictly comply with the obligation to pay to the state budget....

The Thang Long Industrial Park II

Over the past time, the province has always endeavored to improve the efficiency of investment attraction in general and attract Japanese capital inflows in particular. The propaganda on investment advantages in the province has been promoted with many diverse forms such as: Through investment promotion documents, mass media, websites and direct propaganda at the business forum. The province creates favorable conditions for the Thang Long Industrial Park II - an industrial park mainly attracting Japanese investment projects - to operate effectively. The Thang Long Industrial Park II is invested according to the standards of a clean and environmentally friendly industrial park. Among the investment projects in the Thang Long Industrial Park II, there are many big projects from leading economic groups in Japan.

Entering the Thang Long Industrial Park II, it is clean, tidy, neatly and spaciously planned. At the same time, in order to improve the quality of investment attraction, continuously in recent years, the provincial leaders have organized a dialogue with investors in Thang Long Industrial Park II. The legitimate proposals and reflections of the enterprises at the dialogue were directed by the provincial leaders to the functional departments to have specific solutions, promptly solve and create favorable conditions for enterprises. Therefore, many Japanese investors, when consulted, have come to Hung Yen to carry out investment and development projects, expand production and business. According to the data from the Management Board of the Industrial Parks of the province, by the end of May 2020, the Thang Long Industrial Park II has received 101 projects with a total registered capital of over USD 2.6 billion.

In attracting investment projects from Japan, the province has attracted many large economic groups, many big and medium-scale projects, with competitive products, and participating in global production value chains with high added value. To ensure the investment environment, the province has set clear and specific policies such as: Not licensing outdated technology projects and adversely affecting the environment; functional departments would carefully examine the projects. In fact, most of the projects invested by Japanese investors are the industries that are considered to have high profit margins such as electricity, electronics, mechanics, manufacturing machines, etc.

The effectiveness of Japanese-funded projects recently has affirmed that the dynamic economic sector, businesses, entrepreneurs and workers have good management, ability to work well and adapt quickly on modern technology lines so it significantly reduces costs, lowers production costs, and creates high competitiveness. Some typical projects of Japanese investors are as follows: Hoya Glass Disk Vietnam II Project of Hoya Glassdisk Co., Ltd. with total registered investment capital of 205 million USD; the project on manufacturing printed circuit boards for electronic devices of Mektec Manufacturing Co., Ltd. (Vietnam) with total registered investment capital of USD 200 million; the project of manufacturing sanitary equipment and related accessories of Toto Vietnam Co., Ltd. with a total registered capital of over 325 million USD; the project of Kyocera Vietnam Co., Ltd. with total registered investment capital of over 200 million USD; the high-tech electronic component and equipment production project of Canon Electronics Vietnam Co., Ltd. with total registered investment capital of 128 million USD; the air conditioners manufacturing project of Daikin Air Conditioning Joint Stock Company with a total registered capital of over 95 million USD...

According to a summary of the Department of Planning and Investment, by the end of May 2020, the whole province has attracted 167 projects of Japanese investors, total registered investment capital is 3,090.4 million USD. In the industrial parks, there are 137 projects with the registered capital of USD 2,860 million; there are 30 projects outside the industrial park, with the total registered investment capital of 230.4 million USD. The projects, after being granted investment licenses, have quickly carried out production and business activities and strictly complied with the obligation to pay to the state budget. Besides, when enterprises come into operation, they attract a large labor force, create jobs for about 20,000 local laborers. At the same time, Japanese enterprises' projects are also seen as a bridge for domestic businesses to access and learn modern technologies, advanced management levels, and at the same time promote technological innovation, increase productivity, production and business efficiency.

The efficiency of attracting investment capital from Japan has contributed positively to the socio-economic development of the province. Hopefully, in the coming time, with the "opening" to attract investment and the expansion of the Thang Long Industrial Park II, the province will continue to be the destination of the flow of investment capital from Japan. 

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