Japanese firms invest 300 million USD in Vietnam

Hanoi (VNA) - Japan 's Kobe and Sojitz companies plan to set up an iron pellet
production joint venture in Vietnam with an estimated investment capital of 300
million USD.

If approved, the joint venture will be established with an initial registered
capital of 1 million USD to survey iron mines. It will utilize the ITmk3
technology, capable of producing iron pellets from low-quality iron ore and coal.


Another Japanese steel producer, Daido, also plans to enter the local iron market.

In 2008, Japan ranked third among 50 countries and territories registering to
invest in Vietnam , with 105 projects capitalized at nearly 7.3 billion USD,
accounting for 9 percent of total projects and 12 percent of total registered
investment capital.

To attract more foreign invested projects and speed up the implementation of
licensed projects, this year the Ministry of Planning and Investment will
coordinate with relevant agencies and ministries to effectively implement the
third phase of the Vietnam-Japan Joint Initiative Programme on improving the
investment environment in Vietnam.-Enditem