Phu Yen province calls for Japanese investment

Tuesday, 2019-06-04 10:35:39
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Vung Ro port is an important part of Nam Phu Yen economic zone in Phu Yen province. (Photo:
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NDO/VNA – Vietnam’s south central coastal province of Phu Yen introduced a lot of incentives at a conference held in Tokyo on June 3 calling for investments in six projects.

The projects include the fishing logistics service area in Tuy Hoa city; the aquatic breeding in Tuy An district; the afforestation for timber harvest in Phu Yen province; the building of technical infrastructure at a high-tech park in Dong Hoa district; the tropical vegetable growing area, and the cattle and poultry breeding using high technologies in Phu Hoa district.

Chairman of the provincial People’s Committee Pham Dai Duong highlighted the local potential and advantages in economic development, especially sea-based economy.

With long coastlines and favourable climate and soil conditions as well as sufficient infrastructure, the province is capable of developing spearhead economies such as tourism, clean agriculture, support industry, and renewable energy.

The locality is working with international partners, including those from Japan, to build long-term strategies, planning schemes and visions in association with sustainable development and environmental protection, he revealed.

Vietnamese Ambassador to Japan Vu Hong Nam said this is an appropriate time for Japanese businesses to invest in Vietnam and Phu Yen in particular thanks to the sound relations between the two countries.

Vietnam’s implementation of foreign investment attraction policies over the past 30 years has creates a favourable environment for overseas investors, he said.

Vietnam has joined many free trade agreements in the region, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which enables foreign firms to export their products from Vietnam to other markets, he added.

The investment promotion conference in Tokyo was co-hosted by the Vietnamese Embassy in Japan, the Japan Chamber of Commerce and Industry (JCCI), and the Japan External Trade Organisation (JETRO) with the participation of nearly 100 businesses and organisations in Japan.