The Japanese Government has just announced a list of 30 Japanese enterprises receiving support packages when relocating their investments to Vietnam. Most of them are enterprises operating in the field of manufacturing, processing, and medical equipment. Of which, there are large-scale enterprises, such as Hoya Group, Matsuoka Group, Meiko Co., Ltd., and Nikkiso Co., Ltd.
A strong wave of investment shifting of Japanese enterprises has started to head to Vietnam. According to the Japan External Trade Organization (Jetro) in Ho Chi Minh City, right after the supply chains of many Japanese enterprises were broken in the first quarter of this year due to the Covid-19 pandemic, the Japanese Government has urgently promulgated support policy for Japanese enterprises to move their factories out of China, at the same time, diversify the supply chains from many countries. The Japanese Government also set aside up to US$2.2 billion to help Japanese enterprises to relocate. Vietnam is the destination prioritized by Japanese enterprises.
In the field of renewable energy production, pharmaceuticals, and cosmetics, European enterprises are also increasing their presence in Vietnam. As for Korean and Thai enterprises, the advantages of diversified raw materials from Vietnam agriculture are strongly attracting businesses operating in the field of food and foodstuff processing. The representative of the Korea Trade-Investment Promotion Agency (Kotra) said that in 2019, thousands of Korean enterprises came to Vietnam to learn about the investment environment. Many of them have shared the same opinion that Vietnam has a rich source of raw materials for the food processing industry. Especially, from here it is possible to take advantage of bilateral and multilateral trade agreements to export to the world.