Vietnam is ranked second among the most attractive and promising overseas investment destinations for Japanese businesses, reported the national radio broadcaster Voice of Vietnam, citing a survey released on December 12 by the Japan Bank for International Cooperation (JBIC).

This is an annual survey conducted by JBIC since 1992.

The 2024 survey received responses from 495 Japanese companies that have invested, are investing, or plan to invest overseas. The results show that among the top 10 investment destinations, Vietnam ranks second with a very high number of votes.

India takes the top spot. This is the third consecutive year that India has maintained its position as the leading attractive investment destination for Japanese companies.

The third position goes to the United States, followed by Indonesia, Thailand, China, Mexico, Malaysia, the Philippines, and Germany.

When voting for Vietnam, Japanese businesses highly praised the quality of Vietnam's human resources and also consider Vietnam an ideal destination for relocating production facilities from overseas.

In addition, according to analyses from economic experts, while Vietnam's advantage used to be its abundant and low-cost labor force, the increasingly enhanced capabilities of its workforce have now become a formidable competitive advantage compared to other investment destinations.

Economic experts also noted that with its advantages in selective investment attraction policies, a favorable geographical location, and an abundant high-quality workforce, Vietnam will continue to attract many investors, not only from Japan but also from other countries in the region and around the world.