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|Mizuho Bank and Vinh Phuc singed a MoU singing on cooperation in promoting investment|
Seiji Imai, Mizuho Bank’s managing executive officer, head of Asia-Oceania, said that the MoU will open a gate for the two countries’ businesses to realise investment opportunities.
“The MoU also provides a framework for fruitful collaboration with Mizuho Bank Ltd. to introduce investment opportunities for the bank’s Japanese clients. Specifically, both parties will cooperate on investment projects and building information exchange channels,” he added.
Vietnam is seen as a promising destination for direct investment by Japanese and other multinational companies, characterised by sustained high economic growth and large labour force. In particular, Vinh Phuc province has recorded a GDP growth of 15.3 per cent (the national average was 6.8 per cent) in 2017 as a major industrial city in Vietnam with a population over a million.
Vinh Phuc has been aiming to develop a reliable power supply system, traffic network, and other infrastructure by 2020. It has also been proactive in inviting foreign companies to develop a more advanced industrial cluster. These moves are expected to further encourage direct investment by Japanese companies, especially those in the manufacturing industry.
Mizuho will continue providing enhanced support to clients starting and expanding business in the region, thereby contributing to the economic development of Vinh Phuc province and Vietnam at large, according to Imai.
|With the motto "Investors in Vinh Phuc are citizens of Vinh Phuc, their success is also the province's success," the province has been trying its best to attract investment and remove difficulties for years.|
Nguyen Van Tri, Chairman of the Vinh Phuc People's Committee, said that with the motto "Investors in Vinh Phuc are citizens of Vinh Phuc, their success is also the province's success," the province has been trying its best to attract investment and remove difficulties for years.
"There will be a wave of investment from small- and medium-size enterprises (SMEs) from Japan in the coming time. As you know, the first wave from big Japanese firms arrived in the past years. However, Japan also has a lot SMEs that are looking to invest abroad, and Vietnam is one of their first choices," Imai said.
"Besides, new waves of investment to Vietnam will not only come from Japan, but also from the ASEAN block, after the establishment of the ASEAN Economic Community (AEC), and members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (
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