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How much money did Japan invest in Vietnam before signing 22 cooperation agreements, promoting strategic infrastructure development?

Recently, Prime Minister Pham Minh Chinh and Japanese Prime Minister Kishida Fumio announced new progress in cooperation in strategic infrastructure development in Vietnam. Specifically, the two countries agreed to continue cooperating to speed up the implementation of transport infrastructure works.

Prime Minister Kishida Fumio affirmed to continue to cooperate and comprehensively support Vietnam in socio-economic development; supporting Vietnam in developing key infrastructure such as road traffic infrastructure, urban railways and North-South high-speed railways, combating climate change, converting energy…; expanding the reception of technical interns and international students from Vietnam to Japan; supporting the Vietnamese community to live, study and work in Japan.

In particular, the two Prime Ministers witnessed the two countries’ ministries, branches, localities and businesses exchanging 22 cooperation documents in many fields. This clearly shows the strong and comprehensive development of Vietnam – Japan cooperation in all fields.

Before the ministries, branches, localities and businesses of the two countries exchanged 22 cooperation documents in many fields, Japan was always one of the top countries that invested the most in Vietnam.

How much money did Japan invest in Vietnam before signing 22 cooperation agreements, promoting strategic infrastructure development?  - Photo 1.

Japan invests in Vietnam in the period of 2017 – the first 4 months of 2022. Source: Ministry of Planning and Investment.

In the period 2017 – 2021, Japan is always in the top 5 countries investing the most in Vietnam. In particular, in 2017 and 2018, Japan ranked first among the countries investing in Vietnam. Specifically, in 2017, Japan invested in Vietnam with a total investment capital of 9,112 million USD and 367 new projects. Along with that, in 2018, Japan invested $8,599 million with 429 new projects in Vietnam.

In the year 2019 – 2020, although investment capital from Japan into Vietnam decreased due to the Covid-19 epidemic, Japan is still in the top 5 countries investing the most in Vietnam. Specifically, in 2019, Japan invested 4,138 million USD with 435 newly licensed projects in Vietnam. In 2020, Japan has a total investment capital of 2,368 million USD in Vietnam with 272 new projects. In 2019 and 2020, Japan both ranked 4th in the list of countries investing the most in Vietnam.

In 2021, Japanese investment in Vietnam will start to increase again. Specifically, Japan invested in Vietnam with a total registered capital of 3,897 million USD and 199 new projects. Accordingly, Japan is ranked 3rd in the list of countries investing the most in Vietnam, just behind Singapore and South Korea.

In the first 4 months of 2022, investment capital from Nhat Ban in Vietnam also showed many positive signs. Accordingly, Japan invested 748 million USD in Vietnam with 48 new projects.

According to the Foreign Investment Agency (Ministry of Planning and Investment), Japan has invested in 19 industries and fields of Vietnam. In particular, Japan’s investment in Vietnam mainly focuses on the processing and manufacturing industry. In addition, Japan also invests in other fields such as real estate, retail, manufacturing, electricity and gas distribution, agriculture, healthcare, etc.

In 2022, Japanese enterprises will also increase capital in production in Vietnam. Typically, the Ministry of Industry and Trade and leaders of EREX Group had a working session related to the investment situation in Vietnam.

Specifically, according to Mr. Honda Hitoshi, President and CEO of Erex, Vietnam is the first country that Erex considers investing in biomass power generation technology outside of Japan. Currently, the group is surveying and looking for the first opportunities in Binh Phuoc, Dak Lak, Vinh Long, Thanh Hoa, Yen Bai provinces…

Along with that, according to Nikkei Asia, JERA, a joint venture between two giants in the energy field in Japan, Tokyo Electric Power Company (TEPCO) and Chubu Electric Company (Chuden), is planning to build construction of liquefied natural gas (LNG) power plants and LNG handling facilities in Vietnam.

Accordingly, JERA is expected to build a power plant powered by LNG in the north of Hai Phong city, with a total capacity of up to 4.5 GW. The plant is expected to be operational in 2026, with an initial capacity of 2 GW.

In the automotive field, in April 2022, the delegation of Mitsubishi Vietnam Company led by Mr. Hidetoshi Suzuki, President and General Director had a meeting with leaders of Nghe An Provincial People’s Committee.

At the meeting, the representative of Mitsubishi Vietnam said that the group is operating and investing in the main fields of real estate development, investment in Vung Ang 2 Thermal Power Plant, fashion retail and manufacturing. auto business. Company representatives expressed their desire to seek investment opportunities in Nghe An. Specifically, the enterprise is considering investing in building an automobile assembly plant in Nghe An.

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According to Minh Tien

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