Sci-Tech

Japan helps HCM City develop high-tech industry

The Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) agreed to partner with Mitsui Vietnam Limited Company to develop high-tech industries and information technology at a ceremony on January 21.
The Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) agreedto partner with Mitsui Vietnam Limited Company to develop high-techindustries and information technology at a ceremony on January 21.

Addressing the function, Vice Chairman of the municipal People’sCommittee Le Manh Ha expressed his hope that the partnership will helpincrease Mitsui as well as Japanese investment in the city.

According to the official, Japan currently ranks third in terms offoreign investment to the city, despite of increasing capital in recentyears. HCM City is taking measures to attract more investors, includingthose from Japan, such as developing industrial zones, exporting andprocessing zones and creating favourable conditions for foreigninvestors.

By the end of 2013, Ho Chi Minh Cityattracted nearly 33 billion USD in foreign direct investment, 11 billionUSD of which was in the industrial sector.

Japan invested a total of three billion USD in the city, with 1.3 billion USD going to the industrial sector.-VNA
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