Another foreign investment wave has been forecast to come to Vietnam from multi-national companies during the 2015-2020 period.
The forecast was made by several experts at a recent conference about Vietnamese economics and multi-national companies held by Bizlive News.
According to Nguyen Mai, chairman of the Foreign Investment Association, multi-national companies are recovering from the recession but still searching for potential markets. Vietnam is included in this group of potential markets for various reasons, such as its large population. Vietnam's economic growth is also expected to be around 6-7.5%.
Even though the legal framework is currently considered to be incomplete, Vietnam has the advantage of political stability in the Southeast Asian region. Park Chang Eun, deputy head of a South Korean trade promotion and investment, said another advantage is Vietnamese people's ability to learn new from technologies quickly.
In addition, the upcoming trade agreements, especially the Trans-Pacific Partnership (TTP), will expand investment opportunities in Vietnam. "We received two foreign investment waves for 1991-1997 and 2003-2007. I think we'll have a third one for 2015-2020 period," Nguyen Mai said.
At the conference, deputy head of Foreign Investment Agency of Vietnam's Ministry of Planning and Investment, Nguyen Noi, said, "In near future, multiple measures to improve the economic environment will be implemented to streamline customs procedures."
The US, Japan and Singapore have the highest number of multi-national companies that invest in Vietnam, focusing on processing, hospitality and real estate. According to the experts, foreign investment into the real estate sector might increase as the government starts to allow foreigners to buy property beginning in July.