Most Japanese businesses in Vietnam want to expand operation
(VOVWORLD) - Higher revenues have encouraged up to 70% of Japanese firms in Vietnam to consider expanding their business in the country, according to a survey by the Japan External Trade Organization (JETRO)
 Car assembling at Toyota Vietnam. (Photo: vinhphuc.gov.vn) |
This figure is the highest among the 6 Asian countries polled. The majority of respondents said that Vietnam has advantages in market scale and high growth, political-social stability and low labor costs. More than 65% of Japanese companies in Vietnam reported profit last year, up 0.2% from 2017. Japanese businesses in Vietnam are also most confident in their prospects this year among the Asia countries JETRO surveyed.
The survey polled more than 780 Japanese businesses operating in Vietnam in October and November last year. Japan was the largest foreign direct investor in Vietnam in 2018.