Tokyo: The advantages and potential of Vietnam’s northern border province of Lao Cai were introduced to Japanese firms at an investment and tourism promotion conference in Tokyo on April 23.

Addressing the event, Ambassador Pham Quang Hieu stressed that Japan’s investments in Vietnam have been on the rise over the past years, with over 74.4 billion USD poured into 5,304 projects as of March 2024, ranking third among the 143 countries and territories investing in the Southeast Asian nation.

The diplomat expressed his belief that the conference will provide a panorama picture on Lao Cai, helping the locality attract more Japanese investments.

Chairman of the provincial People’s Committee Trinh Xuan Truong briefed the participants on Lao Cai’s incentives to investors and cleared up questions raised by the Japanese enterprises.

Tsukada Manabu, Senior Director for Global Strategy (Southeast Asia) at the Japan External Trade Organisation (JETRO), highlighted Lao Cai’s high growth rate as compared with others in
the northern mountainous region, saying apart from agriculture and tourism, the locality boasts potential for biomass power generation and border trade with China.

The conference featured the handover of memoranda of understanding between Lao Cai and Japanese firms, as well as between Vietnamese and Japanese businesses./.

Source: Vietnam News Agency