State President welcomes Japanese, Malaysian CEOs

The President was talking with leaders of Japanese and Malaysian economic groups at separate receptions in Ha Noi on November 8.

While receiving President of Japan’s Sumitomo Corporation Motoyuki Oka, he expressed his delight at the fine development of the Viet Nam-Japan relationship.

“Japan is currently in the leading group in term of direct investment in Viet Nam,” said the President.

The State President proposed that in addition to the Lang-Hoa Lac hi-tech zone and the North-South railway and highway projects, Japan’s economic groups increase their coordination with Viet Nam’s relevant agencies to seek new investment orientations so as to improve the efficiency of the Viet Nam-Japan economic cooperation.

“Viet Nam has many important development projects that need foreign investors’ support,” he said citing problems of traffic jam, floods and urban environment.

Motoyuki Oka, who is also President of Nippon Keidanren’s Japan-Viet Nam Economic Committee, said that Japan’s direct investment capital in Viet Nam reached around 1.3 billion USD in 2006, a rise of 40 percent over 2005.

Many economic groups of the Japan Federation of Economic Organisation (Nippon Keidanren), including Sumitomo Corporation, plans to expand their activities in Viet Nam, M. Oka said.

Sumitomo Corporation is working with Mitsubishi group in a plan to take part in projects to build a subway network in Ha Noi and Ho Chi Minh City, he elaborated.

In addition, Mitsubishi group is building a plant to manufacture small aircraft’s spare parts in Ha Noi’s Thang Long industrial zone, he added.

Also on November 8, President Triet received President of Malaysia’s Berjaya Kawat Berhad Group Dato Seri Vincent who told the host about his group’s business activities and investment projects in Viet Nam.

Berjaya Kawat Berhad Group plans to expand investment to become the biggest Malaysian investor in Viet Nam, he said.

The group involves in realty industry, financial services, resorts and hotels.