Foreign businesses seek investment opportunities in Vietnam

08:35 | 18/06/2019 Economy Follow Ven.vn on

(VEN) - The Vietnam Private Equity Investment Outlook 2019 released by Grant Thornton Vietnam reports that private investors are seeking new investment opportunities in Southeast Asia, especially Vietnam.

foreign businesses seek investment opportunities in vietnam

Vietnam has become a manufacturing center in Southeast Asia

Vietnam is among the most attractive investment destinations in ASEAN (the Association of Southeast Asian Nations) for private equity investment, according to the annual survey-based report by the international accounting and consulting network. The authors attribute this to official policies boosting the private economy, especially strongly growing startups that they forecast will be one of the four driving forces for Vietnam’s economic growth in 2019. Vietnam’s startup ecosystem attracted a total investment of US$889 million in 2018, triple that in the same period of 2017.

“As the US-China Trade War threatens to shake up the established global value chain, private equity investors are looking for new opportunities in South East Asia, especially the hotspot neighboring country - Vietnam,” the report says. “Venture capital and private equity investment in Vietnam soared to a new record level in 2018 and promises vast potential for growth in the coming years.”

However, every respondent to the survey identified “inconsistent and non-transparent policies/regulations/processes” as the biggest obstacles when investing in Vietnam.

Grant Thornton predicts that financial technology (Fintech), education, renewable energy, health and pharmaceuticals, e-commerce, transport and forwarding services will become the biggest attractors of private investment capital in the next 12 months. Equitization and capital withdrawal by state-owned enterprises will also grow in 2019, providing even more attractive investment opportunities in 2020.

Singapore has become the third largest foreign investor in Vietnam. Singaporean Consul General in Ho Chi Minh City Leow Siu Lin said Vietnam draws more and more Singaporean businesses because of the improved investment environment and attractive investment promotion policies. The bilateral relationship has been growing well and Singaporean companies’ expanding investment portfolio in Vietnam reflects their belief in Vietnam in the long term, Leow Siu Lin said.

Faizal Izany Mastor, Commercial Counselor of the Malaysian Consulate in Ho Chi Minh City said Malaysia has become the eighth largest foreign investor in Vietnam with 586 projects totaling US$12.48 billion in capital. According to Faizal Izany Mastor, Vietnam has become a manufacturing hub in Southeast Asia thanks to its attractive investment policies, reasonable production costs, abundant human resources, and improved licensing processes and infrastructure. Malaysian businesses are interested in renewable energy, information and communication technology solutions, support industries, education and training, health and the food-related Halal industry in Vietnam.

Faizal Izany Mastor, Commercial Counselor, Malaysian Consulate in Ho Chi Minh City: Malaysia hopes that Vietnam

will continue to offer favorable business conditions for foreign investors, including integrated transport infrastructure,

sustainable policies and simpler and more transparent economic costs and administrative procedures.

Thuy Dung

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