A business delegation from Wakayama, one of the nine prefectures of Japan’s Kansai region famous for agriculture and fishery, will come to Vietnam this November to explore the investment environment.

Wakayama representatives and businesspeople announced the plan after attending a seminar on cooperation in agricultural production and processing held in Wakayama by the Vietnamese Consulate General in Osaka, Japan on September 15.

Processing cashew nut for exports. (Photo for illustration)

Some 80 local businesses operating in mechanical manufacturing, agriculture, fishery, banking, services, and human resource training were updated on Vietnam’s economic development as well as the latest policies and regulations on investment and trade.

Representatives from the Japanese Kansai region’s Bureau of Economy, Trade and Investment (METI-Kansai) said Vietnam is the top priority destination of Japanese businesses.

Japanese enterprises spoke of business opportunities in Vietnam, arising from the establishment of the ASEAN Community, to which Vietnam is a member, and the country’s participation in the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP).

They also expressed hope that the Vietnamese Government will make it easier for Japanese businesses in terms of investment, licensing, tax and customs procedures.

Wakayama has earlier showed its interests in partnership with Vietnam by signing a Memorandum of Understanding on cooperation with the Vietnamese Ministry of Agriculture and Rural Development (MARD) in March, 2015.

Source: VNA