Viet Nam will soon welcome a new wave of investment from Japanese businesses, particularly in electrics and electronics, hi-end technology, cement and transport, according to economic experts.

The forecast by these experts was strong supported by recent investment commitments worth 1 billion USD made by a host of delegations from Japanese businesses who have arrived in Viet Nam to inquire into the country’s investment environment and market.

An annual survey by the Japan External Trade Organisation (JETRO) shows that Viet Nam attracted Japanese businesses in terms of both investment and business.

According to JETRO, more than 75 percent of Japanese manufacturers operating in Viet Nam selected the country as the best production base for the next 5-10 years. Viet Nam ranked fourth among the lists of potential destinations to which Japanese companies operating in foreign countries plan to shift their operation in the future.

Viet Nam is also one among the top three markets that Japanese manufacturers expected higher profits in 2007 due to increasing export turnover and effective operation.

A senior consultant of JETRO in Ha Noi, Ken Arakawa, said that the business environment of Viet Nam has been considerably improved thanks to the country’s efforts to ameliorate economic legal system and management mechanisms in line with WTO regulations as well as its reforms towards the socialist-oriented market economy.

With 735 valid projects in Viet Nam with a total registered capital of close to 7.9 billion USD by May 2007, Japan ranks third among countries and territories investing in the country.-(VNA)