About 40 percent of Chinese investors will select Vietnam as their next location if they plan to move investment out of China, said a survey of the Standard Chartered Bank.
Illustrative image (Source: VNA)
The bank's chief economist for Asia David Mann said Vietnam's policies which opened the door for more foreign direct investment (FDI) flows to enter its market have made the country an attractive market in Asia.
According to the economist, Vietnam’s administrative reform and tariff removal, and the country’s participation in regional trade agreements, help attract more foreign investors.
In its recent survey, Grant Thornton Vietnam also said that domestic and foreign investors are keen on the Vietnamese market and have positive outlook about the country’s economy.
Vietnam is attractive because of its abundant source of labour, low operational cost, diverse population structure and stable political environment.
According to ASEAN statistics, FDI into the region reduced by 8 percent to 120 billion USD in 2015, but the investment flows into Cambodia, Laos, Vietnam and Myanmar rose 38 percent to 17.4 billion USD
VNA
