The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment made the prediction amid the context that foreign investors are now optimistic about Vietnam’s rapid economic recovery and development prospects both in the medium and long terms.

A recent study conducted by the United Nations Conference on Trade and Development (UNCTAD) shows that Vietnam is one of 15 nations around the world, which are considered attractive destinations for foreign investors in 2010.

The Chairman of the European Chamber of Commerce in Vietnam, Alain Cany, also believes that FDI inflows into Vietnam will rise this year when many economies worldwide bounce back after the crisis.

The prospects for FDI attraction have been reflected through a series of visits by business delegations from European and Asian nations to explore Vietnam’s markets since late 2009.

Worthy of note among those were the fact-finding tour by the Japan External Trade Organisation (JETRO) and a trip by the Korea International Trade Association (KITA).

During these trips, a large number of investors looked for opportunities to start business in Vietnam.

The Japanese investors showed interest in support industries in Vietnam, while those from the Republic of Korea operating in construction and architecture regarded Vietnam as a new market with high potential for growth.

The General Director of the Swedish ABB Co. Ltd., Gary Marler, shared this view, saying that from late 2008 to early 2009 when the crisis was at its peak, his company still maintained stable operations. “With these successes, ABB will continue to expand business in Vietnam in the long run,” he said.

To translate the forecasts into reality, however, Vietnam needs to simplify its business procedures, improve its investment environment and upgrade its infrastructure facilities, Marler added.