Foreign investors confident in Vietnam’s business environment: official

July 14, 2020 | 14:37

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With the successful control of COVID-19, Vietnam has been widely recognised by the international community as a safe and attractive investment destination.

foreign investors confident in vietnams business environment official

Workers at a garment-textile firm in Vietnam (Photo: VNA)

Hanoi - With the successful control of COVID-19, Vietnam has been widely recognised by the international community as a safe and attractive investment destination.

Deputy Minister of Planning and Investment Vu Dai Thang said while the global flows of foreign direct investment (FDI) could decline by up to 40 percent in 2020 due to the impact of the pandemic, the FDI attraction in Vietnam in the first six months remained positive.

Specifically, in January-June, the total amount of capital registered by foreign investors reached 15.67 billion USD, a year-on-year drop of 15.1 percent. However, the newly-registered and added capital increased 13.8 percent and 26.8 percent to reach 8.43 billion USD and 3.72 billion USD, respectively.

“These are positive signs, showing the confidence of foreign investors in the business environment in Vietnam,” Thang said.

Particularly, Vietnam is home to over 32,000 projects worth 378 billion USD from 136 countries and territories.

While countries across the world are still in the fight against COVID-19, Vietnam has resumed business activities as usual and become one of the first countries to diversify the supply chains, said Envoy Okabe Daisuke from the Japanese Embassy in Vietnam.

Foreign investors are looking at Vietnam as a potential investment destination in the post-pandemic era, he said.

He cited a survey from the Japan External Trade Organization (JETRO) in February 2020 showed that over 63 percent of Japanese businesses in Vietnam plan to expand investment, the highest rate in the Association of Southeast Asian Nations (ASEAN).

VNA

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