According to Kyodo news agency, the Japan Trade Promotion Organization (JETRO) announced on August 16 the survey results showed that more and more enterprises of this country were expanding their business in Southeast Asia, as well as reduce the scale of operations in China due to the escalating tensions between Beijing and Washington.
Citing the survey results conducted late last year, JETRO said 41% of Japanese businesses are considering expanding operations in Vietnam in the next three years, up 5.5% from a year earlier.
Also according to JETRO, 36.3% of Japanese enterprises have similar views with the Thai market, up 1.5%, while the rate in China is 48.1%, down 7.3% compared to that of Thailand. with a year ago.
"Since 2018, increasing tensions between the US and China have boosted the investment activities of Japanese companies in Southeast Asia," JETRO said.
The above survey was conducted by JETRO in November and December 2019, with the participation of representatives of 9,975 Japanese companies with overseas business.
Meanwhile, about 80% of Japanese businesses doing business abroad forecast that sales will decline this year due to a narrowing demand by the epidemic of acute respiratory infections COVID-19. The pandemic also led to a sharp decline in Japanese investment in the Asian market.
In the first 5 months of this year, Japanese investment in Indonesia decreased by 75% compared to the same period in 2019, while this figure in the Association of Southeast Asian Nations (ASEAN) decreased by 35.5%.
Articles TTXVN