Japan firms keen on logistics, seaport projects in northern Vietnam province

A spate of Japanese companies have shown interest in investing in a wide range of fields in the northern province of Quang Ninh like traffic infrastructure, seaports, real estate, and environment.

At a meeting with the province’s Chairman Cao Tuong Huy on Tuesday, Azuma Yoshiro, president of the TNG association, asked for assistance in conducting studies and surveys and proposing investment ideas.

The TNG association is a coalition of Japanese investors, including 30 lawmakers, with investments totaling approximately $64 billion worldwide, as explained by Azuma Yoshiro.

In the first instance, the association’s members are highly keen on investing in several already-approved projects such as Cua Luc harbor underground tunnel, an urban area to the north of Cua Luc harbor, Hai Ha seaport and logistics terminal, and Cai Chien deep-water seaport.

Azuma Yoshiro emphasized Quang Ninh’s appeal, highlighting its dynamic economy and its consistent top rankings in the Provincial Competitiveness Index (PCI).

For his part, Chairman Huy noted that the province features a modern administrative profile, well-developed infrastructure, and a high national competitiveness ranking, making it an attractive investment destination for strategic investors, including those from Japan.

Huy informed that foreign companies from 20 countries have invested some $14 billion in the province, of which Japanese investors have conducted 10 projects.

The provincial government will provide optimal conditions regarding administrative procedures, land, site clearance, and public utilities to ensure investor success.

Huy also suggested that Azuma Yoshiro and the TNG members collaborate to organize a Japanese investment promotion conference in the fourth quarter of this year.

The province is studying options to invest in industrial parks and urban complexes exclusively for Japanese investors, Huy tipped.