Japan investment in Vietnam metro climbs to $1.27 bln

Japanese investment in Ho Chi Minh City topped US$1.27 billion with the licensing of three projects worth $170 million Tuesday, Tuoi Tre (Youth) newspaper reported.

The three include Unika Group and Hiep Phuoc Corporation, which will set up US$31-million operation to provide services and infrastructure for Japanese SMEs in Vietnam.

Suruga Seiki Co., Ltd’s Saigon Precision, which makes components for machinery, automation systems, and robots, increased its investment by $129 million to $219 million.

Automobile parts manufacturer Nidec Tosok Akiba Co., Ltd increased its investment by $10 million to $38.25 million.

Le Hoang Quan, chairman of the city People’s Committee, said around 105 Japanese companies are operating in HCMC.

Category: BUSINESS