With huge untapped potential and steady growth, Vietnam’s food processing industry promises much for foreign investors, officials say.
The banking sector has been on the recovery path after a tough time struggling with bad debt (2012-2014), especially since 2016. This comeback has been assisted by foreign investors in local banks.
Prime Minister Nguyen Xuan Phuc received Neil McGregor – Group President and CEO of Sembcorp Industries, one of the leading foreign investors in Vietnam – in Singapore on November 13.
During a recent meeting with Prime Minister Nguyen Xuan Phuc in Hanoi, Calin Dragan, director of Coca-Cola’s Bottling Investments Group in Southeast Asia and the Middle East, said that Coca-Cola is to build a US$300 million facility in the north of Vietnam.
Foreign investors pledged to pour US$27.9 billion into Vietnam in the first ten months of 2018, down 1.2% compared with the same period of last year, according to the Foreign Investment Agency.
The number of foreign investors, who contribute capital or acquire shares in Vietnamese firms, is surging rapidly, given by the firms’ high growth prospects and the government’s effective actions in improving the country’s business and investment environment.
Domestic retailers must work to outline rational business strategies to gain a competitive edge over their foreign rivals, especially as the local retail market has become more attractive than ever to foreign investors.
Vietnam’s rapidly growing trade and production have pushed the cargo volume through the country’s seaports to rise by 20%-30% per annum, making port projects appealing to foreign investors.
Prime Minister Nguyen Xuan Phuc pledged to create the best possible conditions for foreign investors, including those from Indonesia, during his meetings with leaders of Ciputra Group and PT Nikko Sekuritas Indonesia in Bali, Indonesia, on October 12.
Nearly US$1.3 billion in foreign direct investment (FDI) landed in the southern province of Dong Nai in the first nine months of 2018, 30% surpassing the yearly target, according to the provincial Department of Planning and Investment.
The southern province of Tay Ninh lured nearly VND20 trillion (US$858 million) from eight investors to implement 10 solar power projects with a combined capacity of 808 MW by the end of September.
While Korea, Japan, and Singapore are the largest foreign investors in Vietnam, investment flows the US and Europe also promise to pick up.
Tens of Vietnamese and foreign investors are asking for permission to survey the wind power potential in the Central Highlands province of Dak Lak to build wind power plants here, according to a local official.
To be a top destination for foreign investors, the southern province of Dong Nai has accelerated public administrative reforms and facilitated foreigners doing business in the province.
The startup culture in Vietnam has taken off in recent years, with foreign venture capital now five times higher than that by domestic players. Thus, it is important to note that international cooperation is crucial to bolstering startup innovation in the country.
More foreign invested real estate projects have been registered recently, while more M&A deals in the sector have also been reported.
Mergers and acquisitions transactions in the Vietnamese packaging industry continues strongly, with local companies becoming potential targets for foreign investors.
Foreign investors have shown considerable interest in developing wind power in Vietnam.
2018 marks ten years since the downturn in Vietnam’s real estate market and nearly five years of recovery. As with a decade ago, FDI inflows are concentrated in the high-end residential segment, according to the latest report from JLL.
Ho Chi Minh City-based ecommerce portal Sendo.vn has raised US$51 million in a round of Series B funding from eight foreign investors, Sen Do Technology JSC (Sendo) said in a statement issued today, August 16, by PRNewswire.