OPPORTUNITY TO INVEST IN VIETNAM
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| Investment in Vietnam |
Vietnam is an open economy with trading flow of US$340 billion, 1.6
times its GDP, and has attracted total registered foreign direct investment(FDI) of US$300 billion in 2016. The FDI sector accounts for approximately
70% of the country’s export turnover, equivalent to 22% of GDP. The FDI
sector has generated millions of jobs and contributed greatly to innovation
and modernisation, boosting the economy’s growth.
According to the World Bank’s Doing Business 2017 Report, Vietnam has
improved nine ranks in terms of ease of doing business compared to 2016
(from 91st to 82nd). At the same time, Vietnam ranks 60th out of 138
countries in the World Economic Forum’s 2017 Global Competitiveness Report.
With a population of nearly 100 million people, over 60% are under the age
of 35, Vietnam is well-positioned to supply a young, abundant and quality
workforce at competitive cost. Characterised by political, social and macroeconomic
stability, Vietnam has continuously improved its institutional
framework and transparency to gradually align with international
commitments and standards. The Government of Vietnam has committed
to creating favourable conditions for all investors and businesses, as they
execute their long-term investment plan and actively participate in the
global supply and value chain.
Vietnam continues to drive the global economic integration agenda
and expects to maintain annual average GDP growth rate of 6.5% to
7% over the period of 2016 – 2020. Its priority is on green growth and
sustainable development, with three main engines: Promotion of exports,
domestic market growth and investment expansion. Vietnam is currently
focusing on improving the business environment and increasing the
competitiveness, supported by the Government’s commitments to integrity,
innovation and action to serve businesses and citizens. Vietnam expects
to become a dynamic country and an attractive investment destination in
ASEAN, and strives to integrate into the regional and global value chains.
The Vietnamese Government commits to support and create the most
favourable conditions for foreign businesses investing and operating in Vietnam.
"Source: Nguyen Xuan Phuc
Prime Minister of Viet Nam "
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