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Tokyo conference promotes financial investment in Vietnam

Released at: 16:11, 22/08/2017

Tokyo conference promotes financial investment in Vietnam

Minister of Finance Dinh Tien Dung speaks at the conference. Source:mof.gov.vn

More than 200 Japanese enterprises attend investment promotion conference in Japanese capital on August 21.

by Long Van

Co-hosted by the Ministry of Finance and Japan’s Daiwa Corporation, a conference was held in Tokyo on August 21 to promote financial investment in Vietnam.

More than 200 Japanese enterprises were in attendance.

Minister of Finance Dinh Tien Dung was quoted by Vietnam News Agency (VNA) as telling the gathering that there remains huge space for bilateral cooperation in the financial market, adding that Vietnam’s economy has recorded annual average growth of 6 per cent over the past three decades.

The country’s GDP expanded by an estimated 5.73 per cent in the first half of 2017, while its Purchasing Managers’ Index (PMI), announced by the Nikkei, has reached a 22-month high and is the highest in ASEAN.

He told participants that the Vietnamese Government has defined developing human resources, improving market economy institutions, and developing infrastructure as three breakthrough areas, so the country’s demand for capital is huge, especially investment sources accompanied by expertise and development experience.

Regarding the equitization of State-owned enterprises (SOEs), Minister Dung said that 44 have been equitized this year and the figure will increase to 64 in 2018. The government has also launched a derivatives market, with VN30 future contracts as its first products.

He expressed a hope that major Japanese financial corporations would invest indirectly in Vietnam, become strategic investors, and bring capital and technologies to the country.

Meeting Japan’s Deputy Minister of Finance, Mr. Imaeda Soichiro, on the same day, Minister Dung lauded Japan’s active role in developing infrastructure in Vietnam through official development assistance (ODA) capital over recent years.

The two officials also discussed measures to enhance mutual support within APEC and ASEAN 3 financial cooperation frameworks.

In an interview with Tokyo-based VNA reporters, Member of the Board of Directors of the Daiwa Securities Group, Mr. Keiko Tashiro, said that Daiwa will continue investing in Saigon Securities Incorporation (SSI) and hopes to receive more support.

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