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  • Insights
  • Knowledge
  • News
  • 22 September 2021

Four things make Vietnam an attractive investment destination

Policies to encourage foreign investment, competitive labor costs, free trade agreements, and an open investment environment have made Vietnam an ideal location for investors.

Vietnam’s supply chain has grown significantly since a decade ago. Among countries competing for investment, Vietnam has emerged as an effective alternative to shifting production in Southeast Asia.

Vietnam has a high degree of regional diversity, and the North, Central, and South regions all have distinctive competitive advantages for different industries and business types. Some experts believe that Vietnam is still a relatively foreign market for many investors. In addition, investors need to determine to participate in the long-term “game” and consider Vietnam as a long-term investment destination to manage risks. Despite being affected by the pandemic, the positive growth rate, in general, is a hedging factor for investors when choosing Vietnam.

Many Japanese companies in Vietnam want to expand their business

According to a recent survey by the Japan External Trade Organization (JETRO), nearly half (46.8%) of Japanese companies in Vietnam intend to expand their business activities in the next 1 or 2 years. This ratio is higher than the average (36.7%) of Japanese companies among 20 countries/regions in Asia and Oceania. Vietnam is favored by Japanese companies thanks to its economic scale and growing consumer market with many young people. For Japanese companies to expand their business, strengthening partnerships and closer cooperation with Vietnamese companies will be vital in overcoming various challenges, such as purchasing materials and spare parts in the manufacturing sector in Vietnam or raise awareness in the retail and service sectors.

Vietnam has many competitive advantages in attracting FDI

Vietnam has many competitive advantages over other RCEP members in attracting FDI, including a sizable and lucrative domestic market of over 97.5 million people and a dedicated government dedicated to providing a stable, accessible environment for all investors. Labor costs are low, and the workforce is used to the work requirements set by multinational companies. Areas of interest to foreign investors include renewable energy, agriculture, and aquaculture. In addition, because it is necessary to consider the upcoming impacts of global climate change, many other natural resources can be exploited or processed.

(Source: baodautu)