(Illustrative photo: VNA) Singapore (VNA) – Vietnam is abright spot in foreign direct investment (FDI) attraction in Southeast Asia,said Sam Cheong Chwee, Executive Director and Headof United Overseas Bank (UOB) Group’s Foreign Direct Investment Advisory Unitat UOB.
He made the remark in an article published by Singapore’s Lianhe Zaobao (United Morning) newspaper in its October 9 edition.
In the article, the expert noted that the FDIinflux into Vietnam has been on the rise in recent years, citing statistics ofthe United Nations Conference on Trade and Development (UNCTAD) which showedthat 16 billion USD worth of foreign investment was channelled into the countrylast year.
The expert also cited a recent report ofVietnam’s Ministry of Planning and Investment which said the country attracted morethan 18.4 billion USD in the first nine months of the year.
Sam Cheong Chwee stressed that economicand industrial growth will enhance Vietnam’s position as an important partnerand market in Southeast Asia.
The result is attributable to theVietnamese government’s efforts to bolster infrastructure at key economic andindustrial zones, he said, citing an example of the northern port city of HaiPhong which has been developed into a new economic centre in the north easternregion, thus drawing a large FDI amount into high technology agriculture.
Although FDI in the world has generallydeclined last year, Southeast Asian nations have turned against the trend.
Figures from the UNCTAD show that FDIinflows into the Association of Southeast Asian Nations (ASEAN) in 2018 reacheda record high of 149 billion USD, up 3 percent from the previous year. Meanwhile,global foreign investment fell by 13 percent in the period.
The expert explained young populationstructure is the foremost advantage which helps ASEAN countries successfullyattract investors’ attention.
ASEAN boasts a population of about 660million people, with more than half being under 30./.
He made the remark in an article published by Singapore’s Lianhe Zaobao (United Morning) newspaper in its October 9 edition.
In the article, the expert noted that the FDIinflux into Vietnam has been on the rise in recent years, citing statistics ofthe United Nations Conference on Trade and Development (UNCTAD) which showedthat 16 billion USD worth of foreign investment was channelled into the countrylast year.
The expert also cited a recent report ofVietnam’s Ministry of Planning and Investment which said the country attracted morethan 18.4 billion USD in the first nine months of the year.
Sam Cheong Chwee stressed that economicand industrial growth will enhance Vietnam’s position as an important partnerand market in Southeast Asia.
The result is attributable to theVietnamese government’s efforts to bolster infrastructure at key economic andindustrial zones, he said, citing an example of the northern port city of HaiPhong which has been developed into a new economic centre in the north easternregion, thus drawing a large FDI amount into high technology agriculture.
Although FDI in the world has generallydeclined last year, Southeast Asian nations have turned against the trend.
Figures from the UNCTAD show that FDIinflows into the Association of Southeast Asian Nations (ASEAN) in 2018 reacheda record high of 149 billion USD, up 3 percent from the previous year. Meanwhile,global foreign investment fell by 13 percent in the period.
The expert explained young populationstructure is the foremost advantage which helps ASEAN countries successfullyattract investors’ attention.
ASEAN boasts a population of about 660million people, with more than half being under 30./.
VNA
