Vietnam’s strengths in foreign investment attraction: VietnamBriefing
(Illustrative photo: VNA)
VietnamBriefing, a business news website on doing business in Vietnam, recently published an article highlighting the country’s special factors in attracting foreign investors compared to other regional production sites.
Vietnam’s supply chains have significantly evolved from how they were a decade ago, the article said, noting that among the countries competing for investment, Vietnam has emerged as a highly effective alternative for relocation in Southeast Asia.
“Vietnam’s pursuit of foreign investment, competitive costs, free trade agreements, and liberal investment environment have made it an ideal location for investors seeking to reduce costs and persify supply chains,” it said.
The writing also analysed Vietnam’s competitive edge in terms of labour costs, political climate, infrastructure, working environment and flexible administrative system.
A production line of Toyota in Vinh Phuc, Vietnam (Photo: VNA)
It quoted Dustin Daugherty, Head of North American Desk for Dezan Shira & Associates, as saying that Vietnam enjoys a high degree of regional persity, and the North, Center, and South all have particular competitive advantages for different industries and types of businesses.
The article reported that Vietnam spends up to 5.7 percent of its GDP to improve transport infrastructure and logistics. A total investment value of 120 billion USD has been planned for PPP projects in the road and power sectors.
Daugherty noted that Vietnam is still a rather unfamiliar market for new investors. Investors have to play the long game and look at Vietnam as a long term investment to be able to manage risks.
While Vietnam stands to be affected by the COVID-19 pandemic, its overall positive growth rate provides a partial buffer, the article concluded./.
Related News
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
Launch of FDI Annual Report 2023
16:25 | 17/04/2024 Import-Export
How more than 6 tons of smuggled gold transported to Vietnam?
07:49 | 05/04/2024 Anti-Smuggling
Latest News
Textile and garment exports recovered positively
10:26 | 18/04/2024 Import-Export
Vietnam has opportunities to attract, develop the offshoring market
16:11 | 17/04/2024 Import-Export
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors
16:09 | 17/04/2024 Import-Export
Be proactive and flexible with production materials
09:02 | 17/04/2024 Import-Export
More News
Cooperate to build leading and "rich in vitality" state-owned enterprises
08:59 | 17/04/2024 Import-Export
Garment & textile sector tries to keep growth momentum
14:16 | 16/04/2024 Import-Export
Businesses capitalize on recovery momentum to explore market expansion
10:01 | 16/04/2024 Import-Export
Access to the Chinese market is increasingly convenient
15:12 | 15/04/2024 Import-Export
China, US, Japan – largest importers of Vietnam’s fishery products in Q1
15:04 | 15/04/2024 Import-Export
Vietnam’s agricultural products appeal to foreign customers
15:03 | 15/04/2024 Import-Export
Science and technology enterprises still have limited to access to preferences
10:45 | 15/04/2024 Import-Export
Made-in-Vietnam wind turbine towers bound for RoK
17:56 | 14/04/2024 Import-Export
Cashew nut exports is estimated at US$ 782 million in the first quarter
17:08 | 14/04/2024 Import-Export
Your care
Textile and garment exports recovered positively
10:26 | 18/04/2024 Import-Export
Launch of FDI Annual Report 2023
16:25 | 17/04/2024 Import-Export
Vietnam has opportunities to attract, develop the offshoring market
16:11 | 17/04/2024 Import-Export
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors
16:09 | 17/04/2024 Import-Export
Be proactive and flexible with production materials
09:02 | 17/04/2024 Import-Export