More and more giant firms from abroad are making inroads into Vietnam for long-term investment opportunities, promising a new wave of foreign direct investment (FDI) for the Southeast Asian country.
Thai investors are making ambitious plans to expand their investments in and exports to its neighbor, mostly in the fields of farm produce and motorbike spare parts to Vietnam, said Vorapote Wongprasertphol, senior trade officer of the Thai Department of Export Promotion.
“Vietnam is the first choice for Thai investors although their investment decisions are affected by a lot of factors worldwide, especially surging oil prices.” he added.
The remarks were made at an interview with a Vietnam News Agency reporter on the sidelines of a Thai trade and investment promotion seminar in Hanoi on August 11 on occasion of Thai trade fair held in Hanoi from August 10-13.
He added that Thai Commerce Ministry intends to organize more exhibitions to boost trade relations between the two countries.
Meanwhile, Vietnam also is seen as an attractive destination by companies from Australia’s Western Sydney region.
To help businesses in the region to access more information about Vietnam, the first investment promotion forum was jointly held by the local city of Paramatta authorities and Vietnamese Consulate General in Sydney. The event drew 50 enterprises, including Australian and Vietnamese oversea ones.
Besides, Singaporean businesses are looking for investment opportunities in southern coastal Ba Ria-Vung Tau province in the fields of fields of education, development of supporting industries for the oil sector, and especially shipbuilding, port construction, ship repair and maintenance services.
As many as hundred of enterprises from the US and Israel will travel to Vietnam to seek investment opportunities shortly.
The US’s leading Wal Mart group is also seeking the Vietnamese Ministry of Planning and Investment’s consultancy for investment in the retail sales and distribution activities in the country.
Notably, the new FDI inflow is proved by a range of large projects licensed recently, of which, Japanese ones are seen the most impressive.
“Perhaps, never before have we seen such a boom of Japan’s investment like presently, said Nguyen Anh Tuan, Vice Head of the Foreign Investment Department under the Ministry of Planning and Investment.
The Cannon Group, besides its factory in Hanoi's Thang Long Industrial Park (IP), has turned ground for two other factories in Bac Ninh province.
The Tenumo Group has begun construction on a new factory in Vinh Phuc province's Quang Minh IP while Sumitomo plans to develop another industrial park after its success in the Thang Long IP in Hanoi.
Honda Motor Co. has also announced that it will pour $60 million into a local auto factory within the next five years.
Sumitomo Corporation is seeking cooperation from other companies for a total investment of $16 billion to develop the Van Phong Economic Zone in the central province of Khanh Hoa.
With these positive signs, Vietnam can build its hope on the FDI target of $6.5 billion this year as well as a very bright picture in attracting foreign firms in the years to come.
B.T
Vietnamese
