
{"id":22577,"date":"2021-09-20T02:09:33","date_gmt":"2021-09-20T02:09:33","guid":{"rendered":"https:\/\/sms-bridges.com\/staging\/the-netherlands-a-recovering-economy-rediscovers-japan-copy\/"},"modified":"2025-09-25T05:20:28","modified_gmt":"2025-09-25T05:20:28","slug":"the-most-popular-fdi-destination-in-the-asean-region","status":"publish","type":"post","link":"https:\/\/sms-bridges.com\/staging\/the-most-popular-fdi-destination-in-the-asean-region\/","title":{"rendered":"The most popular FDI destination in the ASEAN region"},"content":{"rendered":"\n<p><strong>Takio Yamada, Japanese Ambassador to Vietnam<\/strong><\/p>\n\n\n\n<p>For the past years, Japan and Vietnam have dramatically strengthened economic, political and social ties based on our Extensive Strategic Partnership for Peace and Prosperity in Asia.<\/p>\n\n\n\n<div><a href=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-1024x1024.jpg\" class=\"td-modal-image\"><div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-1024x1024.jpg\" alt=\"\" class=\"wp-image-22580\" width=\"256\" height=\"256\" srcset=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-1024x1024.jpg 1024w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-300x300.jpg 300w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-150x150.jpg 150w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-768x768.jpg 768w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-600x600.jpg 600w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-696x696.jpg 696w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-1068x1068.jpg 1068w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-420x420.jpg 420w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1-840x840.jpg 840w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-1.jpg 1200w\" sizes=\"(max-width: 256px) 100vw, 256px\" \/><figcaption><strong>Takio Yamada<\/strong>, Japanese Ambassador to Vietnam  |  \u00a9 Japanese Embassy<\/figcaption><\/figure><\/div><\/a><\/div>\n\n\n\n<p>One of the most important recent events for the two countries was Prime Minister Yoshihide Suga\u2019s visit to Vietnam last October. He chose Vietnam as the destination for his first overseas trip as prime minister after taking office. This demonstrated the degree of importance Japan attaches to Vietnam and the enhanced mutual trust and confidence between the countries.<\/p>\n\n\n\n<p>For Japanese manufacturing firms, Vietnam is now the most popular destination for foreign direct investment among members of the Association of Southeast Asian Nations, according to a survey conducted by the Japan Bank for International Cooperation. Despite the COVID-19 pandemic, the popularity of Vietnam remains unchanged due to its quality labor, improved infrastructure and political stability. Hoping Vietnam can effectively control the spread of the novel coronavirus, Japan has provided approximately 3 million doses of vaccine. Japan is committed to continuing support for Vietnam to fight the pandemic. It is also noteworthy that the number of Vietnamese youngsters who visit and stay in Japan as technical trainees, students and employees has climbed dramatically over the past decade. Those youngsters have already become an essential part of the Japanese economy and society and are hoped to act as bridges to bring our people even closer together.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote has-text-align-center is-layout-flow wp-block-quote-is-layout-flow\"><p>In 2023, Japan and Vietnam will celebrate the 50th anniversary of the establishment of diplomatic relations.<\/p><\/blockquote>\n\n\n\n<p>In 2023, Japan and Vietnam will celebrate the 50th anniversary of the establishment of diplomatic relations. It is expected that a lot of events and opportunities will be organized to look back on the past 50 years as well as to look forward to the next 50 so we can further enhance our friendly ties as our two peoples look to the future.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Supporting insights on Japanese investments in Vietnam<\/h3>\n\n\n\n<p><strong>Masataka Fujita, Secretary-General, <a href=\"https:\/\/www.asean.or.jp\/en\/\" target=\"_blank\" rel=\"noreferrer noopener\">ASEAN-Japan Centre<\/a><\/strong><\/p>\n\n\n\n<p>Vietnam has a strong economy and even through the pandemic, the country has been keen to strengthen its cooperation with Japan. As one of the CLMV (Cambodia \/ Lao PDR \/ Myanmar \/ Vietnam) countries and an ASEAN member country, we enjoy working closely with Vietnam.<\/p>\n\n\n\n<div><a href=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-1024x1024.jpg\" class=\"td-modal-image\"><div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-1024x1024.jpg\" alt=\"\" class=\"wp-image-22579\" width=\"256\" height=\"256\" srcset=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-1024x1024.jpg 1024w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-300x300.jpg 300w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-150x150.jpg 150w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-768x768.jpg 768w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-600x600.jpg 600w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-696x696.jpg 696w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-1068x1068.jpg 1068w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-420x420.jpg 420w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2-840x840.jpg 840w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-Lead-photo-2.jpg 1200w\" sizes=\"(max-width: 256px) 100vw, 256px\" \/><figcaption><strong>Masataka Fujita<\/strong>, former Secretary-General, ASEAN-Japan Centre  |  \u00a9 ASEAN-Japan Centre<\/figcaption><\/figure><\/div><\/a><\/div>\n\n\n\n<p>The four key areas for increased cooperation between ASEAN and Japan are: marine plastic waste, connectivity, sustainability and economic development and ASEAN member countries want assistance from Japan, specifically in terms of marine plastic waste. We gathered 22 young leaders from all ASEAN members and Japan to make a joint declaration on the issue of marine plastic waste and are continuing this initiative through education to raise awareness.<\/p>\n\n\n\n<p>Strengthening and rebuilding value chains has been a priority for businesses across Japan and the ASEAN region. Our \u2018Resilient Global Value Chains (GVCs) for ASEAN and its Relationship with Partner Countries\u2019 report identifies which industries are more vulnerable to both upstream and downstream risks associated with global value chains. The report indicates that Vietnam can expand its supplier market and that it should find more buyers rather than relying on existing markets.<\/p>\n\n\n\n<p>Vietnam\u2019s GDP grew 2.9 percent in 2020 and is one of the only countries which registered positive economic growth last year. This year the country\u2019s economic growth is projected to reach 7 percent, the same as 2019.<\/p>\n\n\n\n<p>Vietnam\u2019s high economic growth rate is largely export-driven. The country is regarded as \u2018a production location of choice\u2019 for many transnational companies implementing the \u2018China Plus One\u2019 strategy and exports are \u2018filling the gap\u2019 caused by the ongoing China-United States trade conflict.<\/p>\n\n\n\n<p>Many companies investing in Vietnam today are helping to improve the country\u2019s supply chain capabilities: in 2020, Vietnam\u2019s FDI stock stood at $177 Billion.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>Vietnam\u2019s high economic growth rate is largely export-driven. The country is regarded as \u2018a production location of choice\u2019 for many transnational companies&#8230;<\/p><cite><span class=\"has-inline-color has-white-color\"> <strong>Masataka Fujita<\/strong>, former Secretary-General, ASEAN-Japan Centre<\/span><\/cite><\/blockquote><\/figure>\n\n\n\n<div class=\"wp-block-image\" style=\"margin-top:-15px;margin-bottom:25px\"><figure class=\"aligncenter size-full is-resized\"><a href=\"https:\/\/www.asean.or.jp\/en\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-ASEAN-Japan-logo.png\" alt=\"\" class=\"wp-image-22582\" width=\"71\" height=\"87\" srcset=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-ASEAN-Japan-logo.png 400w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-ASEAN-Japan-logo-245x300.png 245w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-ASEAN-Japan-logo-150x184.png 150w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-ASEAN-Japan-logo-300x368.png 300w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-ASEAN-Japan-logo-343x420.png 343w\" sizes=\"(max-width: 71px) 100vw, 71px\" \/><\/a><\/figure><\/div>\n\n\n\n<p>Vietnam has concluded the most free-trade agreements in the ASEAN region and also recently concluded the EU-Vietnam Free Trade Agreement allowing manufacturers to export from Vietnam with reduced or even zero tariffs.<\/p>\n\n\n\n<p>While Vietnam\u2019s GDP is growing, the country\u2019s GDP per capita is one of the lowest in the ASEAN region and productivity levels across the country need to be improved. Vietnam is projected to become an \u2018aged society\u2019 by 2035 and there are many lessons the country can learn from Japan\u2019s well-established elderly care system.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p><strong>Takeo Nakajima, Chief Representative, <a href=\"https:\/\/www.jetro.go.jp\/vietnam\/about\/hanoi\/\" target=\"_blank\" rel=\"noreferrer noopener\">JETRO Hanoi<\/a><\/strong><\/p>\n\n\n\n<p>Vietnam is the only country in the ASEAN Region in which JETRO has two offices. JETRO Hanoi was established in 1993 and our office in Ho Chi Minh was established in 2000.<\/p>\n\n\n\n<p>In terms of its role in global trade, Vietnam became a major player after its ascension to the World Trade Organization in 2006. Since then, many foreign companies, including Japanese firms, have poured investment in the country and helped Vietnam\u2019s economic development.<\/p>\n\n\n\n<p>Vietnam is a key manufacturing base with a growing domestic market. After China and Thailand, Vietnam is the region\u2019s most important manufacturing base for Japanese companies.<\/p>\n\n\n\n<p>In the early 2000s JETRO assisted Japanese manufacturing companies in starting operations in Vietnam. In the last five years we have seen the domestic market grow and more Japanese non-manufacturing companies are entering Vietnam.<\/p>\n\n\n\n<p>Before the pandemic, Vietnam was a very popular market for Japanese investors and the country has managed the challenges of the pandemic relatively well.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>Japan has helped Vietnam grow and the equal partnership between our two nations continues to prosper.<\/p><cite><span class=\"has-inline-color has-white-color\"> <strong>Takeo Nakajima<\/strong>, Chief Representative, JETRO Hanoi <\/span><\/cite><\/blockquote><\/figure>\n\n\n\n<div class=\"wp-block-image\" style=\"margin-top:-15px;margin-bottom:25px\"><figure class=\"aligncenter size-full is-resized\"><a href=\"https:\/\/www.jetro.go.jp\/vietnam\/about\/hanoi\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-JETRO-logo.png\" alt=\"\" class=\"wp-image-22583\" width=\"100\" height=\"37\" srcset=\"https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-JETRO-logo.png 400w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-JETRO-logo-300x112.png 300w, https:\/\/sms-bridges.com\/staging\/wp-content\/uploads\/2021\/09\/VN21-JETRO-logo-150x56.png 150w\" sizes=\"(max-width: 100px) 100vw, 100px\" \/><\/a><\/figure><\/div>\n\n\n\n<p>Our data from last year shows that 47 percent of Japanese companies in Vietnam intended to expand their business while only 6 percent said they would shrink or close operations.<\/p>\n\n\n\n<p>We are pouring more resources into digital transformation initiatives in Vietnam and Asia and we are running a series of webinars and seminars to connect Vietnamese startups with Japanese companies. Vietnam\u2019s human resources are a good match with Japanese technology especially in mobility, e-commerce, factory automation and business process outsourcing.<\/p>\n\n\n\n<p>Japan has helped Vietnam grow and the equal partnership between our two nations continues to prosper.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Takio Yamada, Japanese Ambassador to Vietnam For the past years, Japan and Vietnam have dramatically strengthened economic, political and social ties based on our Extensive Strategic Partnership for Peace and Prosperity in Asia. One of the most important recent events for the two countries was Prime Minister Yoshihide Suga\u2019s visit to Vietnam last October. He [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22586,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[331,292,259,293,698,303],"tags":[518],"class_list":{"0":"post-22577","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-331","8":"category-articles","9":"category-bridging-japan","10":"category-editorial","11":"category-editorial-vietnam","12":"category-vietnam","13":"tag-editorial"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The most popular FDI destination in the ASEAN region - Bridges Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sms-bridges.com\/staging\/the-most-popular-fdi-destination-in-the-asean-region\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The most popular FDI destination in the ASEAN region - Bridges Magazine\" \/>\n<meta property=\"og:description\" content=\"Takio Yamada, Japanese Ambassador to Vietnam For the past years, Japan and Vietnam have dramatically strengthened economic, political and social ties based on our Extensive Strategic Partnership for Peace and Prosperity in Asia. 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