Posted on 13 Dec 2007
Japanese investors move from Thailand to Vietnam
Japanese companies are moving their production bases from Thailand to Vietnam to take advantage of lower
operating costs in the country, the Japan External Trade Organisation (JETRO)
said.
"Three years ago, Japan
’s investment in Vietnam
was 1.6 billion baht (close to 52.6 million USD). But the figure has increased
to 3.9 billion baht this year," President of JETRO's Bangkok office Yoichi Kato was quoted by The
Nation newspaper as saying.
Compared to Thailand,
production costs in Vietnam
are now much cheaper, which have attracted Japanese businesses to invest in
some key industries such as electronics and automobiles.
The political stability is always the initial condition for
Japanese companies to make any investment decision, and Vietnam is
considered a good environment for them, he added.
