Vietnam needs to pay attention to training high-quality human resources, accelerating administrate reform and developing and upgrading infrastructure in order to attract more foreign direct investment (FDI), according to the European Chamber of Commerce (EuroCham).
The organisation said European businesses have planned to expand their investment in renewable energy, hi-tech manufacturing and processing, and research and development (R&D) centre next year.
In a recent report, Savills Vietnam also emphasised the attractiveness of investment in high value manufacturing industries in Southeast Asia and Vietnam.
Compared to China, India, and other Southeast Asian countries, Vietnam is an attractive market for investment with relatively low risk. This creates an impetus for the capital flow of many technology companies, and businesses operating in other fields in the US to invest in Vietnam.
According HSBC Bank (Vietnam) Ltd, Vietnam has become a hi-tech production centre in the world. Large groups such as Samsung and LG of the Republic of Korea, and partners of Apple and Goertek, Foxconn and Pagatron have poured tens of billion USD into Vietnam.
Statistics from the Ministry of Planning and Investment, as of December 20, 2022, the total newly-registered capital, adjusted capital, and capital contribution and share purchase hit nearly 27.72 billion USD, equivalent to 89% of the same period of 2021.
Foreign businesses invested in 54 localities nationwide in 2022.
Recently, Samsung officially launched an R&D centre worth 220 million USD in Vietnam. The firm intended to turn the country into a strategic R&D base.
Dirk Hartmann, General Director of Tesa Site Hai Phong Co., Ltd, said when it selected Vietnam for its plant, the firm saw an attractive destination for investment thanks to the country’s stable economic growth.
Source: Lao News Agency