Foreign Direct Investment from Western Europe and the U.S. Surges in Vietnam Amidst Vietnam’s pursuit of sustainable growth, a surge in foreign direct investment (FDI) from Western Europe and the United States is becoming increasingly apparent, with a pronounced focus on renewable energy projects, according to an official statement.
Expanding Investor Base:
In addition to the longstanding investment partners such as Japan, South Korea, China, and Taiwan, a new wave of investors is emerging from countries such as Germany, the Netherlands, France, and Spain. These countries are displaying a robust interest in Vietnam, particularly in the realm of renewable energy ventures. Do Van Su, the deputy head of the Foreign Investment Agency under the Ministry of Planning and Investment, highlighted this trend during a forum held on Thursday.
U.S. Companies Keen on Vietnam:
Notably, American businesses are displaying a heightened interest in Vietnam. The U.S. Semiconductor Industry Association, comprising 32 member companies, has recently explored investment prospects within the country. This interest aligns with Vietnam’s growing emphasis on semiconductor manufacturing and digital transformation.
Vietnam’s Commitment to Sustainability:
Vietnam has been vocal about its commitment to advancing renewable energy and semiconductor industries in recent years. The nation has set ambitious targets, including achieving net-zero greenhouse gas emissions by 2050. Prime Minister Pham Minh Chinh’s recent directive to train 50,000 engineers and 100 experts in digital transformation and semiconductor manufacturing further underscores this commitment.
Enduring Trust of Traditional Investors:
Existing investors continue to express unwavering confidence in Vietnam’s investment environment. Choi Kyu Chul, vice president of the Korea Chamber of Business in Vietnam, anticipates a growing influx of investment from South Korea in the years ahead.
Challenges on the Horizon:
However, certain challenges have deterred foreign investors, particularly the scarcity of available land, notably in Ho Chi Minh City. Dao Xuan Duc, chairman of the Ho Chi Minh City Export Processing Zone and Industrial Park Authority Business Association, pointed out that land clearance and compensation delays are primarily responsible for this shortage. Consequently, many investors have opted to establish their manufacturing facilities in neighboring provinces like Dong Nai or Binh Duong instead of Ho Chi Minh City.
In conclusion, Vietnam’s attractiveness to investors from Western Europe and the U.S. is on the rise, with a strong emphasis on renewable energy ventures and semiconductor development. Despite challenges like land shortages, the nation’s commitment to sustainability and innovation continues to foster interest and confidence among both traditional and emerging investors.
We are importing sea food like basa fish and fruits dragon from Vietnam 🇻🇳 to India 🇮🇳.Coming to attend india central highlands conference on 30/31 in Da Lat and also visiting Hanoi and Ho Chi Minh for business opportunities.But there is no good agency dealing in mutual trade .It’s only one side focus to sell only.Plz change this perspective Also need help from a local government agency guidance for mutual business
OpinderSingh
0091 9814021886