With the highest GDP growth in more than a decade, stable macro- economy , budget surplus, trade surplus, Vietnam's economy continues to grow in most areas with many bright spots. Vietnam is assessed by international press and international financial organizations as "one of the countries at the top of the list of attracting foreign investment in 2023"...
According to the latest data from the Foreign Investment Agency ( Ministry of Planning and Investment ), from the beginning of the year until now (as of April 20), 77 countries and territories have invested in Vietnam with a total registered foreign direct investment (FDI) capital of nearly 8.9 billion USD. In the context of the current turmoil in global FDI flows, this figure, although not high, is still considered a positive signal, showing that Vietnam is still attractive to foreign investors.
At the Prime Minister's Conference meeting with foreign investors held in Hanoi last April, three foreign corporations announced plans for new investments and investment expansion in Vietnam this year with a total investment capital of 3.7 billion USD. Many foreign enterprises made investment commitments in the context of Vietnam being assessed by international press and international financial institutions as "one of the countries at the top of the list of attracting foreign investment in 2023", "a safe and attractive investment destination", "a potential destination for investors", "a magnet" attracting investors, etc.
The Prime Minister met with foreign investors in April 2023. Photo: VNA.
According to statistics from the Korean Business Association in Vietnam (Kocham), there are currently about 9,000 Korean enterprises investing in Vietnam, with trade turnover last year reaching a record high of 87.7 billion USD. Mr. Hong Sun, Chairman of Kocham, said that in the near future, many large Korean enterprises will invest in Vietnam. In the immediate future, companies such as LG Electronics, LG Display, and LG Innotek are expanding their investments to develop factories in Vietnam to become a global production base for automobiles, electronics, and household appliances. Meanwhile, Mr. Takeo Nakajima, Chief Representative of the Japan External Trade Organization (JETRO) in Hanoi, said that Japanese enterprises are ready to invest in Vietnam. Up to 47% of Japanese enterprises said they will expand their business in the next 1-2 years because they see many investment opportunities in Vietnam.
According to the representative of the European Chamber of Commerce in Vietnam (EuroCham), despite facing some barriers, Vietnam is a "rising star" in the business sector, with more than 400/1,300 European enterprises ranking Vietnam in the top 5 destinations for their investment and business. Mr. Nguyen Hai Minh, Vice Chairman of EuroCham, said: In recent surveys by EuroCham on the business environment index, Vietnam has always been chosen as the top destination for investment by European enterprises, competing with other countries in the region. The reason is that Vietnam has a lot of potential, from its geographical location, the openness of free trade agreements, to its deep participation in Vietnam's supply chain, in terms of human resources and especially its sustainable development and green growth strategy.
Mr. Nguyen Hai Minh, Vice Chairman of EuroCham - Photo: baodautu.vn
Notably, last March, a delegation of 52 leading US businesses, including big names such as Boeing, SpaceX, Netflix, Pfizer, Abbott, Meta, Amazon, Apple, etc., came to Vietnam to discuss investment and business cooperation opportunities. According to the assessment of US businesses, Vietnam has great investment potential in the following industries: semiconductors, FMCG (fast-moving consumer goods), toys, furniture, food, digital economy, creative economy, banking and financial services, and healthcare.
Mr. Rafael Frankel, Director of Meta Asia-Pacific, mentioned some factors that make US businesses interested in investing in Vietnam: First is the talent, dedication, diligence, resilience and entrepreneurial spirit of the Vietnamese people. These are qualities that the Vietnamese people are not inferior to any other country in the world. Second, this is a country that we believe in investing in because we believe that there is an extremely bright future when investing here. We have witnessed the results of that investment over the years. And third is that the current Vietnamese government has pursued open economic policies.
Vietnam's economy is highly appreciated by foreign investors for its resilience in the context of being heavily affected by the COVID-19 pandemic and the risk of a global economic recession. Overcoming difficulties and challenges, Vietnam has maintained macroeconomic stability, controlled inflation and quickly adapted to the new era of digital transformation.
Vietnam is one of the few countries whose national credit rating has been upgraded by prestigious international credit rating organizations in the context of global difficulties, such as: Moody's, S&P upgraded Vietnam's credit rating to "Stable" outlook; Fitch maintained Vietnam's credit rating at "Positive" outlook. Vietnam is also a country that is highly appreciated in building, developing and having a national brand with the fastest growth rate in the world in the period 2019-2022...
Meanwhile, international experts said that Vietnam's economy in the medium and long term is still assessed as positive. Many international institutions forecast that Vietnam's economic growth will remain high compared to the region and the world this year. Accordingly, the International Monetary Fund (IMF), the World Bank (WB), the Asian Development Bank (ADB), the Organization for Economic Cooperation and Development (OECD), the ASEAN + 3 Macroeconomic Research Office (AMRO), Standard Chartered Bank ... said that Vietnam's economic growth is forecast to fluctuate between 5.8 - 6.6%.
With positive signals from economic growth, along with positive assessments from international experts, foreign investors will have more basis to make investment decisions in Vietnam soon. Many forecasts say that FDI attraction to Vietnam will "explode" this year./.
Thu Hang
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