Japanese firms ask for immigration procedures to be eased, VAT invoice issuance quickened

Japanese companies urged for immigration procedures to be eased, issuance of VAT invoices expedited, and traffic congestions addressed in a dialogue with Ho Chi MInh City leaders on Monday.

Japanese companies are increasingly shifting from manufacturing to services, particularly retail, according to Nakagawa Motohisa, vice president of the Japanese Business Association of Ho Chi Minh City (JCCH).

They urged the Ministry of Industry and Trade to draft clear guidelines ensuring Vietnamese laws align with international treaties to unlock further investment opportunities.

In the tax sector, Japanese enterprises requested the issuance of VAT invoices to be expedited. They also highlighted the need for faster immigration procedures, reduced congestion at entry points, and improved traffic safety awareness among motorcyclists.

They expressed interest in collaborating with the city on green transformation initiatives and asked for support to enhance the domestic supply rate of industrial products.

In terms of infrastructure and living conditions, Japanese businesses recommended improvements to operations at the Tan Son Nhat International Airport, particularly in security and organization. They emphasized the need to accelerate immigration processing and improve taxi pick-up arrangements.

Japanese businesses made $3.55 million in new investments in the first 11 months of the year. To date, they have invested a total of nearly $8.54 billion, ranking third among the 127 countries and territories investing in the city, official data shows.

Talking about future investment goals, Quach Ngoc Tuan, deputy director of the Department of Planning and Investment, said that the city aims to develop a high-tech industrial hub centered on four key existing industries, namely electronics; pharmaceuticals, rubber, and plastics; precision mechanics; and food and beverage processing; and five emerging high-tech sectors, including biotechnology and pharmaceuticals; automation and robotics; semiconductors, and supporting industries for advanced technologies.

HCMC also plans to foster six supporting service industries: medical tourism, finance and banking, e-commerce, healthcare, transportation and logistics, and educational technology.

The city is mobilizing resources to transform its urban area into a competitive international financial center, focusing on currency markets, banking systems, capital markets, and commodity trading.

It aspires to become a digital and IT hub by advancing software development to promote the national digital economy, providing "Make in Vietnam" cybersecurity services and building AI platforms and cloud computing infrastructure.

Tourism is another focus, with the goal of becoming a vibrant international destination and a leading tourist hub in Asia.

Motohisa emphasized that achieving these goals requires attracting investors through improved policies and creating a more favorable investment environment.

Vice Chairman of the HCMC People's Committee, Vo Van Hoan, noted that the city had effectively resolved many concerns. For the remaining challenges, he reaffirmed his commitment to working alongside businesses to address.

However, Hoan stressed that investors must align with the city’s strategic goal of transitioning to high-tech industries. "HCMC is developing policies to support businesses in making this shift."