According to a recent survey of business leaders within 21 Asia Pacific Economic Cooperation APEC economies, it was found that Vietnam was in top position for foreign investments for the second consecutive year. This is a big win for the tiny country in the Far Eastern region.
Following the news in September that stated the foreign investment record might reach a new high in 2018, it was certain that the country would gain ranks in the regional survey. According to statistics published by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, there was a 4.2 per cent increase in 2018 compared to the corresponding period of 2017.
Vietnam’s external economic affairs have always focussed on attracting foreign direct investment (FDI). The country already has many comparative advantages and a strong investment climate, and they continue to work hard to become even more appealing to foreign investors. Vietnam is taking steps to vigorously renovate the business and investment climate and recognize the FDI sector as an integral part of the economy – essential to restructuring the economy and raising national competitiveness.
The Vietnamese government is also committed to creating a fair and attractive business environment for foreign investors, and constantly improving its legal framework and institutions related to business and investment. The government has been working hard on restructuring the economy and its model for growth.
With major trade deals like the CPTPP, EU-Vietnam FTA and ASEAN-Hong Kong FTA on the horizon, Vietnam has the potential to attract even more investment and generate new cross-border business opportunities. According to the survey, 51% of business leaders are planning to raise levels of investment over the next year, up from 43% two years ago.
International trade is likely to continue being a source of growth for Vietnam-based firms: 40 percent expect an increase in revenue opportunities thanks to new bilateral trade agreements and 34% anticipate such opportunities to arise from new multilateral agreements.
Following the release of the survey yesterday, Kelmer Group is certain with its way forward in Vietnam. With a boost in the Vietnamese economy, the country has definitely earned its top spot as one with a high potential for business opportunities. Kelmer Vietnam have recently set up shop and we are more than ready to assist you with your business requirements.