Ho Chi Minh City seeks more Japanese investment in high-tech industries

The goal was highlighted during a meeting between chairman of the municipal People's Committee Nguyen Van Duoc and Okabe Mitsutoshi, chief representative of JETRO's Ho Chi Minh City Office, at the city administration headquarters on Tuesday.

Duoc said Japan remains one of the city's most important economic partners and pledged continued cooperation with JETRO to attract more high-quality investment.

He also praised JETRO's role in supporting Japanese companies investing and operating in the city and contributing to the Vietnam-Japan comprehensive strategic partnership.

Since the Ho Chi Minh City People's Committee and JETRO's Ho Chi Minh City Office signed a memorandum of cooperation in March, the two sides have carried out a range of practical initiatives, including the Supporting Industry Show 2026, which helped connect Vietnamese and Japanese businesses and strengthen supply chains.

Following the expansion of its administrative boundaries last year, Ho Chi Minh City is striving to become an international megacity and a regional hub for finance, innovation, and economic development, Duoc said.

To achieve that goal, the city is prioritizing key development areas, including semiconductors, AI, the digital economy, the green economy, an international financial center, and a free trade zone.

Japan will continue to be one of the city's leading economic partners in that process, Duoc said.

He said Ho Chi Minh City hopes to strengthen cooperation with JETRO to attract high-quality investment in manufacturing, supporting industries, automation, digital transformation, clean energy, and innovation, while helping Vietnamese companies integrate more deeply into global supply chains.

He added that the city would continue improving the investment environment, accelerating administrative reforms and digital transformation, and maintaining regular dialogue with the Japanese business community to support long-term investment expansion.

In response, Okabe said Japanese companies have shown growing interest in investing in Vietnam, including Ho Chi Minh City.

He noted that JETRO's Ho Chi Minh City Office has seen a significant increase in meetings with Japanese companies seeking information about Vietnam since the COVID-19 pandemic.

As of December 2025, JETRO had conducted 1,142 such meetings, up 133 from 2024. During the first six months of 2026, it held another 576 meetings.

Based on those discussions, JETRO has focused on three priorities: promoting investment in innovation, introducing Ho Chi Minh City's post-merger investment environment, and cooperating in the development of high-quality human resources.

During the first half of this year, JETRO organized seminars linking startup ecosystems, provided consultations on investment opportunities in the newly expanded Ho Chi Minh City, facilitated business matching in supporting industries, and introduced employment opportunities in Japan to Vietnamese students.

Drawing on feedback from Japanese companies, Okabe said they highly value the capabilities of Vietnamese businesses and hope to see higher localization rates as the country's technical expertise and technological capacity continue to improve.

He said Vietnam is no longer simply a destination for labor-intensive assembly and processing.

Instead, with its strong economic growth, highly skilled workforce, and stable political and social environment, Vietnam has become an increasingly attractive investment destination as Japanese companies gradually expand into higher value-added sectors, particularly high-tech manufacturing.

Okabe also highlighted workforce development as another promising area.

He said Japan is facing a severe shortage of workers in science and technology, prompting Japanese companies to recruit more overseas talent, including those from Vietnam.

Many Vietnamese students study and work in Japan before returning home to become key personnel when Japanese companies establish operations in Vietnam, he said.

'There is movement in both directions, gradually creating a very positive cycle,' he said.

Okabe reaffirmed that JETRO will continue supporting Ho Chi Minh City as a trusted partner in the years ahead.