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Vietnam Today

PM encourages Japanese real estate, infrastructure and financial investment

Released at: 10:30, 10/10/2018

PM encourages Japanese real estate, infrastructure and financial investment

PM Nguyen Xuan Phuc (standing) at the meeting with representatives of Japanese real estate firms in Tokyo on Oct. 9 (Photo: VGP)

PM meets with Japanese firms on sidelines of 10th Mekong - Japan Summit.

by Linh Chi

Prime Minister Nguyen Xuan Phuc received representatives from leading Japanese infrastructure and financial enterprises in Tokyo on October 9 on the sidelines of the 10th Mekong - Japan Summit.

At talks on investment in real estate and infrastructure development in Vietnam, the Prime Minister said he highly values Japan’s urban planning and construction and applauded Japanese firms’ investment in real estate and infrastructure development in Vietnam, according to a report from the Vietnam News Agency.

It quoted the Prime Minister as saying that the Vietnamese Government will create the most favorable conditions for Japanese companies, including issuing regulations on investment in the form of public-private partnerships and devising easier financial credit policies for investors in the field.

He suggested Japanese firms give priority to both investing in real estate and developing infrastructure, especially building social housing for workers and the poor and modern and smart urban areas.

He also called on Japanese enterprises to compile optimal planning for land funds and advanced technologies and materials for high-quality infrastructure projects.

PM Nguyen Xuan Phuc (front, 4th from left) meets with representatives of Japanese financial firms in Tokyo on Oct. 9 (Photo: VGP)

For their part, according to the news agency, Japanese real estate firms said that Vietnam’s market is witnessing a boom and expressed a desire to increase their investment in the field.

They showed an interest in projects that use the latest knowledge in order to support Vietnam in building master plans, expanding urban areas and large-scale supermarkets in localities, and promoting transport connections and building social housing for low-income earners.

They also proposed policies to create a more open investment environment for enterprises to invest in Vietnam.

The news agency also reported that during the working session with representatives from Japan’s major financial firms, Prime Minister Phuc affirmed that the Vietnamese Government consistently promotes economic integration and linkages and devises strong policies to create the best and equal conditions for businesses.

He called on Japanese firms to become strategic partners in Vietnam’s process of restructuring State-owned enterprises, building enterprises with global competitiveness, participating in transport infrastructure development and new energy projects, and in reforming and modernizing Vietnam’s banking and financial system.

The government encourages investors to purchase weak banks and develop them into 100-per cent foreign-owned banks, the Prime Minister noted.

Representatives from Japanese financial firms said they are impressed by Vietnam’s achievements in economic growth in 2018, especially macroeconomic stability, and spoke highly of the government’s strong governance and reforms in terms of institutions and mechanisms and the reduction of administrative procedures.

They also voiced their concerns about the equitization of State-owned enterprises and infrastructure development plans, specific investment priorities in the field of innovation.

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