HANOI: Tadayoshi Okimoto, an auto company executive from southern Japan, recently met with dozens of Vietnamese in Ho Chi Minh City, excited by the chance to get a piece of Vietnam’s nascent stock market.
Okimoto was on a tour, organized by a Japanese travel agency, that brings Japanese retail investors to Ho Chi Minh City, Vietnam’s budding financial center, to open share trading accounts. The tour is so popular with Japanese who want to take advantage of a growing stock market that it takes place almost every business day.
“In many countries, the stock market is mature and goes up and down a lot,” Okimoto, 41, said. “But in Vietnam, the stock is very new so the chart is going up all the time. In two or three years’ time, we will receive a lot of money from our investment.”
Driven by low interest rates at home, Japanese investors are eyeing Vietnam, a Communist-ruled country that is now experiencing fast economic growth and recently joined the World Trade Organization. The Japanese see Vietnam as an alternative to China and India.