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Japanese investors evince interest in Vietnman
03/Sep/2010 Intellasia | Dau Tu
3 Sep, 2010 - 1:31:45 PM
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Apart from three large groups of Itochu, MOL and NYK, many other Japanese investors have evinced interest in investing in Vietnam.

A leader in Japan-based Itochu Group, during his business trip to Vietnam in early last week revealed that his group was interested in Vietnamese markets via conducting four projects in Vietnam such as setting up a joint venture with Vinalines (Vietnam) and two other Japanese groups of MOL and NYK in realising Hai Phong's Lach Huyen Port; and cooperating with Phu Thai group, and Family Mart to build a chain of convenience stores in Vietnam.

The group has already set up detailed plans for the two fore-mentioned projects. If the prime minister approves for the Lach Huyen Port project, in early September, Itochu Group and other partners will cooperate closely to follow all the terms in the joint venture, re-valuate the projects and adjust the proposed design so that Lach Huyen Port can receive the cargo ships with loading capacity of 80,000 to 100,000 tonnes, instead of 50,000 tonnes as being approved previously.

Meanwhile, as for the project of setting up a chain of convenience shops, Itochu Group has lately released that the group and Phu Thai Group and Family Mart had already submitted the application profile for investment licence to HCM City People's Committee.

The other two projects that Itochu Group were keen on including Long Son oil refinery and Hanoi-Noi Bai Airport railway.

With total investment capital of $3.7 billion, Long Son oil refinery project was supposed to be conducted by Thailand-based Siam Cement Group, and other two Vietnamese groups of the National Oil and Gas Group (PetroVietnam) and Vietnam Chemicals Group since 2008. However, there appeared some problems relating to ground clearance works. By the end of last year, Siam Group, with holdings rate of 71 percent of total investment capital, signed a cooperation contract with Qatar Petroleum International Co to make capital contribution to carrying out the project. At present, Siam was seeking another partner and Itochu Group would likely be the chosen one.

Meanwhile, as for Hanoi-Noi Bai Airport railway project, the official proposals have already been submitted to ministry of planning and investment, and the ministry also sent document to Japan International Cooperation Agent for considering the feasibility of the project. It was expected to have Jica's response by the end of this year.

Apart from the three Japanese groups, there were other large groups from Japan showing their interest in making investment in Vietnam such as Tokyo Electricity, Chubu Electricity, Kansai Electricity, Toshiba, Hitachi, Mitsubishi and Japan Nuclear Energy Group with main focus of atomic energy.

As planned, in October, those seven leading groups would establish an international nuclear power development Co in order to meet all Vietnamese demands relating to constructing and developing nuclear power industry. These groups would like to set up the second nuclear power station in Vietnam, to be located in Ninh Thuan province.

This is one of the plans under supporting package from Japanese government to help Vietnam develop nuclear power, said Masayuki Naoshima, Japanese minister of Economy, Trade and Industry mentioned in his visit last week.





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