Opportunity to welcome new wave of investment in Vietnam

Update: 15:47 | 06/09/2022

For the first time in its 25 years of presence in Vietnam, US aircraft maker Boeing has recently held an aerospace industry forum in Vietnam instead of commercial events related to aircraft orders as usual.

Boeing said that every one of its aircraft has some parts that come from Vietnam, such as wings and doors. But a Boeing aircraft requires 6 million parts, and during its search for suppliers around the world, Boeing wishes to have more suppliers from Vietnam. Boeing’s approach follows the same path as Samsung and Intel by placing their confidence in the Vietnamese business environment and deciding to expand production in Vietnam.

Opportunity, new wave of investment, Vietnam, Boeing,  Vietnamese business environment,  expand production

Manufacturing electronic components at Samsung Vietnam.

In the current trend, many major investors have increased their investment and production in Vietnam after a long period of stable growth, as seen in the proportion of additional investment, which is always larger than investment in new projects and share purchases by foreign investors.

It is notable that several large corporations, such as Apple, Dell, Foxconn and Pegatron, are relocating their supply chains to Vietnam. As the engine of export, foreign investors have supported many Vietnamese enterprises in taking part in global supply chains by providing input materials and forging business cooperation.

In the post-Covid-19 period, Vietnam is presented with many opportunities to receive new-generation inflow of foreign direct investment and production relocation capital flow from Vietnam’s major partners and multinational companies in the effort to diversify their supply chains. The industries with the potential to receive new investments are all key sectors that make significant contributions to Vietnam’s exports, including food processing, electronic equipment, e-commerce and logistics, car production, and other manufacturing industries.

In addition to opportunities, Vietnam is also facing numerous challenges that need overcoming to welcome the new wave of investment. Therefore, it is first necessary to fine-tune the policies on attracting foreign investment, improve the business environment, enhance the competitiveness of the economy, invest in transport infrastructure, especially roads and seaports. 

In addition, Vietnam needs to develop the supporting industries, promote linkages, increase the quality of human resources, and streamline state management of foreign investment. Only when Vietnam improves its capacity to receive and absorb foreign investment can the country seize the opportunities brought about by the relocation of global FDI inflow.

Bac Giang removes difficulties for business, improves investment environment
(BGO) – The Department of Planning and Investment (DoPI) on August 17 held a business dialogue in Bac Giang province to grasp and timely remove the difficulties for the enterprises in conducting production and business, administrative procedure so as to improve the investment environment.
Disbursed public investment up 22.5% in July
About 46.2 trillion VND (nearly 1.98 billion USD) of investment capital sourced from the state budget was disbursed in July, up 22.5% from a year earlier, according to the General Statistics Office (GSO).
Vietnam – attractive investment destination for RoK investors
Vietnam is a destination chosen by investors from the Republic of Korea (RoK) in the spheres of technology, environment and high-tech industry, heard a conference in Ho Chi Minh City on July 22.
Bac Giang lures total investment of 995 million USD
(BGO) – Since early this year, Bac Giang province has attracted total newly and added investment capital of 995 million USD, expanding 1.3 folds year on year, reported local competent sector.
PM attends investment promotion conference in Hau Giang
Prime Minister Pham Minh Chinh on July 16 attended an investment promotion conference in the Mekong Delta province of Hau Giang.

Source: NDO

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