Investment now totals $37.37 billion in 2,556 projects.
In the first two months of this year Vietnam licensed 25 new Japanese projects and permitted 17 others to increase their project capital, totaling $169.83 million. The country now stands in third place regarding total investment, with $37.37 billion in 2,556 projects, behind the British Virgin Islands and South Korea.
Manufacturing has been the sector of most interest for Japanese investors over the years, with 1,316 projects and total registered capital of $31.11 billion, accounting for 83.3 per cent of total investment. Second was real estate, with total capital of $1.66 billion, or 4.5 per cent, followed by construction with $1.17 billion, or 3.1 per cent.
Japan has invested in 49 of Vietnam’s 63 cities and provinces. Northern Thanh Hoa province has received the most interest, with total registered capital of $9.68 billion, accounting for 26 per cent of total investment. Hanoi ranked second, with 636 projects and total investment of $4.08 billion, accounting for 10.9 per cent, followed by southern Binh Duong province, with total capital of $3.85 billion, or 10.3 per cent.
Major Japanese projects in Vietnam include the Nghi Son Refinery and Petrochemical Complex at the Nghi Son Economic Zone in Thanh Hoa province, with total investment of $9 billion, the Bridgestone Vietnam tire plant at the Hai Phong Industrial Zone, with total registered capital of $1.22 billion, and the Becamex Tokyu Co. project in Binh Duong, with capital of $1.2 billion.