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Tuesday, June 25, 2024

Awaiting a conducive environment

By Thanh Phong

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The diversification of global supply chains, coupled with changes to global trade under “new rules”, has given a boost to foreign direct investment (FDI) in the manufacturing sector in Vietnam. However, if the country is not quick enough to catch up with the fast-changing environment and enhance domestic productivity, it could lose its attractiveness. More appealing market Vietnam stands to benefit from a new trend among investors to look for destinations for their production bases as well as the establishment of new global trade corridors via new-generation free trade agreements. Brook Taylor, CEO of fund manager VinaCapital, remarked at a recent seminar on Vietnam’s market prospects that many investors have realized the need to set up shop in Vietnam or participate in the Vietnamese economy. VinaCapital has just also convened its annual investors conference with the participation of some 150 investors, focusing on the elevation of the Vietnam-U.S. relationship to a comprehensive strategic partnership, and expectations on investment into the semiconductor industry. However, chip manufacturing is a story for the future. For the time being, the FDI inflow in Vietnam is still rising. According to the General Statistics Office, FDI disbursement in January-September hit a five-year high of US$15.91 billion, […]
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