VIETNAM EXCEEDED ITS EXPECTATION OF FDIs, RETAIL SECOND SECTOR TO REAL ESTATE
Things are heating up fast in Vietnam.
For the first time in the country’s economic history, it has released data on
foreign investments in regards to capital contributions and share purchases.
According to reports,
foreign investors have invested nearly USD 3 billion into Vietnam enterprises
over the course of the year, nearly half of it was pumped in with the past
seven months.
In 2015, Vietnam reported a
6.7 per cent growth rate, which makes it that fastest growing economy in the
world. The country has plans to remain on the same growth percentage for the
next five to seven years with no slow down.
Of the foreign investments,
a great portion was in real estate (23.1%) while wholesale and retail came in
second, summing up to USD 319 million (21%). The country currently reports 57
foreign chartered capital retail projects in Vietnam.
According to Euromonitor
International, Vietnam’s middle income group will grow two folds between now
and 2019.
Dang Huy Dong, deputy
minister of planning and investment, Vietnam, said that the country’s economic
boundaries are expanding more than ever. “The formation of the ASEAN Economic
Community, the Trans-Pacific Partnership (TPP) and other free trade agreements
presented attractive opportunities for both domestic and foreign investors.”
Singapore is currently the
biggest investor in Vietnam, running up to 107 projects (USD488.4 million)
while South Korean firms have injected USD 231 million into 331
projects across the country. Other big players in Vietnam include the
Japanese, Taiwan and China.
"Source: eightyquartier.com"
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