Nearly Half of Foreign Investors Plan to Scale up Investment in Vietnam: PwC

Tuan Minh

22:50 09/11/2017

BizLIVE - PwC projects Vietnam could be among the top 20 economies by 2050, surpassing several more advanced economies, such as Netherlands in 2030 and Australia in 2040. 

Nearly Half of Foreign Investors Plan to Scale up Investment in Vietnam: PwC

A view of downtown Ho Chi Minh City, the main engine of Vietnam's economic growth.

Confidence levels are high among business leaders in Vietnam, with up to 47% of foreign business investors in Vietnam plan to increase their investments in the Southeast Asian country over the next 12 months, auditing and consulting firm PwC has said in a recent survey.
This makes Vietnam most attractive destination for planned increases in cross-border investments the 21 Pacific Rim economies. The others include mainland China, Indonesia and the U.S., where at least 40% of foreign CEOs plan to raise spending.
Source: PwC’s APEC CEO Survey, 2017 
PwC surveyed over 1,400 business leaders with responsibility in each of the 21 APEC economies in the run up to the annual APEC CEO Summit in Vietnam.
Dinh Thi Quynh Van, PwC Vietnam general director, noted that positive sentiments can be seen in three areas: an expanding domestic economy, expectations of new growth from trade agreements, and export expansion (both regional and intra-regional export growth), along with a positive outlook on innovation in key sectors of opportunity.
“Sustained economic reform, coupled with a strengthening of public institutions and an emphasis on education and skills development will be crucial to make Vietnam fit for the future,” Van said.
According to key findings, up to 92% of CEOs in Vietnam are confident in growth for their business over the next 12 months, with 38% of them saying that they are “very confident”.
In 2016, 50% of CEOs in Vietnam were ‘very confident’ in revenue growth. However, the comparison to 38% ‘very confident’ in 2017 is not significant as this is within the margin of error, PwC said.
A net 62% of Vietnam CEOs said they will increase investments in 2018, above the APEC average of 50%.
Over the longer term, PwC projects Vietnam will be among the fastest growing economies in the world as average real GDP growth in Vietnam reaches 5.1% p.a. These projections rest on Vietnam’s youthful population and rising middle class; a cost-competitive and skilled workforce that offers viable alternatives to China; and a predictable pro-investor policy orientation.
As a result, by 2050, PwC projects Vietnam could be among the top 20 economies, surpassing several more advanced economies, such as Netherlands in 2030 and Australia in 2040. 

TUAN MINH

Từ khóa: APEC, CEO, GDP, PwC

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