Japan’s Marubeni plans to invest billions of USD in Vietnam
Japanese conglomerate Marubeni has invested JPY90 billion ($593 million) in Vietnam since 1991 and is looking to continue investing billions of USD more, said president and CEO Masumi Kakinoki.
The executive made the statement at a Monday meeting with Prime Minister Pham Minh Chinh. Marubeni aims to further its investments in Vietnam, especially in energy, processing, export of goods, and infrastructure development, and is seeking support from the Vietnamese government, Kakinoki added.
The company's activities in Vietnam, focusing on export-import of goods, construction of factories and power plants, food processing, and apparel-textiles, have employed about 7,500 people.
Prime Minister Pham Minh Chinh (right) and Marubeni president and CEO Masumi Kakinoki at a meeting in Hanoi, November 13, 2023. Photo courtesy of the government's news portal.
In reply, PM Pham Minh Chinh said he appreciated Marubeni’s investment plans in the country, including the gas-fired O Mon II power plant in the Mekong Delta city of Can Tho, an LNG-fired power plant in the northern province of Quang Ninh, wind farms, solar farms, and food processing factories.
The government chief highlighted Vietnam’s advantages, including political-social stability, participation in 16 free trade agreements (FTA), a large domestic market of 100 million people, improving business and investment environments, and investments in energy and infrastructure.
Chinh also urged Marubeni to make policy recommendations and help Vietnam with workforce training, technology transfer, and governance amid the country’s focus on innovation, digitalization, green transition, renewable energy development, e-commerce growth, and simultaneous developments in institution, infrastructure, and human resources.
Besides, the PM proposed Marubeni deploy trade promotions, business connections, the enhancement of Vietnam’s exports, and supply chain integration. He also called on the Japanese business to aid Vietnamese firms in renewable energy, green and sustainable energy transition, and emission reductions.
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