Japanese companies looking to invest in Vietnam
Towards the end of last year, the Japan External Trade Organization, or JETRO, surveyed about 1,000 Japanese manufacturers operating in Asia.
62 percent of respondents said they are planning to expand business activities in the next 1 to 2 years, up 4 percentage points from the previous year.
By country, 92 percent of the companies doing business in Vietnam said they had plans to expand, up 10 points from a year before. Respondents in India came in a close second at 90 percent.
Meanwhile, the number of manufacturers planning to do so in China fell for the 4th consecutive year to 65 percent, down 2 points from the previous survey.
The drop is attributed to rising wages in China and companies taking stock of their local investments.
JETRO says many Japanese makers are targeting Vietnam as a production base, and have plans to expand their business activities there over the next decade.
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