90% of surveyed Japanese companies to expand business in Vietnam

A total 90 percent of Japanese companies said they plan to expand business activities in Vietnam during a recent survey, local media reported Tuesday. Vietnam's state-run radio Voice of Vietnam quoted the survey carried out by Japan External Trade Organization (JETRO) on business activities of Japanese companies in Asia and Oceania as saying that 60 percent of Japanese companies in Vietnam posted profit in 2013. According to JETRO survey, which was released in Vietnam's capital Hanoi on Monday, Vietnam's business-investment environment has presented several improvements in 2013 including socio-political stability, easy labor recruitment and increasing market size. However, Japanese companies are complaining some weaknesses that Vietnam should remove to facilitate the country's business and investment environment, including transportation difficulties, asynchronous telecommunication, electricity and supporting industries as well as limited skills of communication and foreign languages of local workers, said the survey. Japanese companies have also faced other risks during their investment processes including redundant administrative procedures and vague policies in tax regimes and customs procedures, according to the survey.