Vietnam has surpassed China as a prime overseas investment destinationof Japanese businesses, radio The Voice of Vietnam (VOV) cited a recentsurvey by Teikoku Databank as saying.

Teikoku Databank, acompany specialising in collecting business information on companies inJapan reported 10.9 percent of 23,000 Japanese enterprises surveyed inSeptember consider Vietnam the best investment destination abroad whilethe selection rate for China was just 6.9 percent.

Japanesefirms have a keen interest in such areas as interior decoration,garments and textiles, information and technology in Vietnam. They choseVietnam primarily due to low costs and its highly skilled young labourforce.

The survey, released on October 16, shows Vietnam rankedfourth in the list of the safe markets in which Japanese businessenterprises have attached the most importance to, trailing China, the USand Thailand.

President of the Vietnam Chamber of Commerce andIndustry (VCCI) Vu Tien Loc was quoted as saying that this is good news.The most important thing for Vietnam is to maintain a positive image inthe eyes of Japanese investors and foreign investors alike, Loc said.

Recently,the Japan External Trade Organisation (JETRO) in Hanoi said up to 30percent of Japanese enterprises are investing abroad and regard Vietnamas the primary option.

According to a JETRO report in February,Vietnam has become the top nation attracting Japanese investment,surpassing other rivals - Indonesia, Thailand and the Philippines.

Up to 70 Japanese firms in Vietnam unveiled their business expansion plans in 2014.-VNA