Vietnam is one of the most attractive investment destinations forFilipino businesses, according to the Malaya Business Insights, anonline economic policy analysis site.
Since the mid-70safter being ravaged by war, Vietnam has come a long way, holding anumber of comparative advantages and boasting an attractive investmentclimate. In September 2014, operational FDI stood at 8.9 billion USD,with 12.9 billion USD slated for the entire year of 2014, an increase of8.7% compared to 2013. Investors came from over a hundred countries andterritories, including some of the world’s leading transnationalcorporations. The figures show that Vietnam is now a destination ofchoice for foreign investors, even in the face of the present globaleconomic slump.
During the first ten months of 2014, thesecurities market registered an impressive recovery of 20% compared to2013; Viet Nam’s GDP growth rate increased by 5.62% during the first 9months of 2014, while inflation crept up by 4.61% compared to 2013, thelowest rate in 12 years. These achievements have aroused the interest offoreign investors, leading government authorities to encourage FDI.
Thepublication lists a number of factors that have determined Vietnam’seconomic success so far: political stability, an abundant workforce, acomprehensive international integration framework, and wide-reachingreform policies.
Vietnam’s politicalsituation has been stable for a number of years now, which has earnedthe country the title of being one of the most dynamic economies.Economic growth from 1991 to 2010 averaged 7.5% annually, despite theglobal financial crisis of 2011-2013.
Thecountry boasts an abundance of Human Resources, with over 60% of itspopulation being of working age. Additionally, Vietnam’s geographicallocation at the heart of East Asia, home to a number of large andvibrant economies, is a huge advantage.
Thecountry joined the World Trade Organization in 2007 and is an activeparty to multiple frameworks of international economic integration,including a number of free trade agreements with partners both withinand outside the region. Vietnam is also part of the Trans-PacificPartnership negotiations. These factors are sure to attract moreinvestors to Vietnam, according to the publication..
Inan attempt to secure more foreign investment, Vietnam is undertakingefforts to improve its investment climate. Before the open policy of1986, Vietnam was a centralised economy. Since opening the market toforeign investors, Vietnam has become a socialist-oriented marketeconomy.
The Government has made a number ofpositive changes in order to keep up with the changing global businessenvironment. In Vietnam, foreign and domestic investors are treatedfairly under the Law on Investment, which is one of the reasons why theUnited Nations Conference on Trade and Development (UNCTAD, 2011) rankedVietnam amongst the fifteen most attractive economies for foreigninvestors.
According to the article, Vietnamwill continue to be an attractive investment site, not just forFilipino businesses, but the rest of ASEAN. The country is particularlykeen to boost investments in ICT, mining, tourism, manufacturing,education and infrastructure, including energy.-VNA
Since the mid-70safter being ravaged by war, Vietnam has come a long way, holding anumber of comparative advantages and boasting an attractive investmentclimate. In September 2014, operational FDI stood at 8.9 billion USD,with 12.9 billion USD slated for the entire year of 2014, an increase of8.7% compared to 2013. Investors came from over a hundred countries andterritories, including some of the world’s leading transnationalcorporations. The figures show that Vietnam is now a destination ofchoice for foreign investors, even in the face of the present globaleconomic slump.
During the first ten months of 2014, thesecurities market registered an impressive recovery of 20% compared to2013; Viet Nam’s GDP growth rate increased by 5.62% during the first 9months of 2014, while inflation crept up by 4.61% compared to 2013, thelowest rate in 12 years. These achievements have aroused the interest offoreign investors, leading government authorities to encourage FDI.
Thepublication lists a number of factors that have determined Vietnam’seconomic success so far: political stability, an abundant workforce, acomprehensive international integration framework, and wide-reachingreform policies.
Vietnam’s politicalsituation has been stable for a number of years now, which has earnedthe country the title of being one of the most dynamic economies.Economic growth from 1991 to 2010 averaged 7.5% annually, despite theglobal financial crisis of 2011-2013.
Thecountry boasts an abundance of Human Resources, with over 60% of itspopulation being of working age. Additionally, Vietnam’s geographicallocation at the heart of East Asia, home to a number of large andvibrant economies, is a huge advantage.
Thecountry joined the World Trade Organization in 2007 and is an activeparty to multiple frameworks of international economic integration,including a number of free trade agreements with partners both withinand outside the region. Vietnam is also part of the Trans-PacificPartnership negotiations. These factors are sure to attract moreinvestors to Vietnam, according to the publication..
Inan attempt to secure more foreign investment, Vietnam is undertakingefforts to improve its investment climate. Before the open policy of1986, Vietnam was a centralised economy. Since opening the market toforeign investors, Vietnam has become a socialist-oriented marketeconomy.
The Government has made a number ofpositive changes in order to keep up with the changing global businessenvironment. In Vietnam, foreign and domestic investors are treatedfairly under the Law on Investment, which is one of the reasons why theUnited Nations Conference on Trade and Development (UNCTAD, 2011) rankedVietnam amongst the fifteen most attractive economies for foreigninvestors.
According to the article, Vietnamwill continue to be an attractive investment site, not just forFilipino businesses, but the rest of ASEAN. The country is particularlykeen to boost investments in ICT, mining, tourism, manufacturing,education and infrastructure, including energy.-VNA
