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  • News
  • 10–12 August 2021

Special factors make Vietnam an attractive investment destination

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Vietnam is still emerging as one of the most attractive destinations for export manufacturers in an age of protectionism where many economies have been reeling from the COVID-19 pandemic.

From 2020-2026, Vietnam’s electronic manufacturing services (EMS) market will grow at a compound annual rate of 5%. With the manufacturing sector growing exponentially and growing domestic and export demand, mainly in the electronics and automotive sectors, the EMS business is expected to expand to new heights. Many global original equipment manufacturers (OEMs) and EMS suppliers such as Samsung, LG, and Foxconn (a contract manufacturer for Apple) are investing in printed circuit boards, camera modules, and cameras, printers, servers, telephones, network equipment, televisions, and other electronic devices in the country.

In addition, there are policies to encourage foreign investment such as competitive labor costs, free trade agreements, and an open investment environment. It has made Vietnam ideal for capital investors are looking to reduce costs and diversify supply chains.

According to expert Dustin Daugherty, Head of North America Division of Dezan Shira & Associates, to overcome the remaining limitations in transport and logistics infrastructure, Vietnam has focused on upgrading the network transport network, spending up to 5.7% of GDP on infrastructure. A total investment of $120 billion has been planned for PPP projects – investments in public-private partnerships in the road and electricity sectors. Vietnam has a high level of regional diversity. The North, Central, and South regions all have particular competitive advantages for different industries and types of businesses.

Expert Daugherty also said that Vietnam is still a strange market for many investors. In addition, investors need to determine to participate in the long-term and consider Vietnam as a long-term investment destination to manage risks. Despite being affected by the COVID-19 pandemic, the positive growth rate, in general, is a hedging factor for investors when choosing Vietnam.
(Source: baochinhphu)