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Vietnam among top ten 2007-09 world FDI prospects

06/08/2010 - 78 Lượt xem

Productive but reasonably priced labor force puts Vietnam sixth among the top ten most attractive FDI targets for trans-national corporations (TNCs) to 2009, says a survey from the UN Conference on Trade and Development.

China and India remain top two most favored TNC FDI destinations.

The UNCTAD World Investment Prospects Survey 2007-09 looks at upcoming trends in FDI among the world’s largest TNCs.

The survey forecasts FDI flows increasing across all sectors over the next three years on the back of continued global economic growth, high profitability and continuing availability of finance.

WHO’S IN THE TOP TEN?

A recent survey shows that Vietnam will be among the top ten destinations for foreign investment over the next couple of years. Only 3 years ago, it was ranked as low as 50.

HERE’S A LOOK AT THE OTHERS:

1. China
2. India
3. United States
4. Russia
5. Brazil
6. Vietnam
7. United Kingdom
8. Australia
9. Mexico
10. Poland and Germany

Source: UNCTAD survey

Results from the 192 largest TNCs suggest over two-thirds expect to annually expand FDI to 2009. South and East Asia are again recognized as increasingly attractive FDI targets, with Vietnam a rising star in the region.

Together with other Asian nations, Vietnam can anticipate globalization’s ongoing shift of operations to the world’s most competitive economies and attendant annual FDI growth, here, based on the nation’s competitive advantages.

The establishment of foreign-invested affiliates will continue as the most popular mode of market entry for some 80 percent of foreign entrants, over the distant second, mergers and acquisitions (M&As).

The UNCTAD report, however, also cautions of accelerating competition among nations relying on labor-intensive manufacturing, services and knowledge-based activities.

Companies can now choose from a wider variety of highly competitive host countries, including Vietnam and the Ukraine, the report’s authors note.

The U.S., U.K., Russia, Brazil, Mexico and Poland also rank among the top 10.

UP, UP AND AWAY

More than 10 years ago, many foreign companies wanting to invest in Vietnam, had to do so via a third country, such as Singapore. But now that the economy has opened up, foreign direct investment (FDI) has skyrocketed.

HERE’S A LOOK AT A FEW KEY FACTS:

■ In the last five years, investment has increased more than five-fold, from US$2.5 billion in 2002, to $13 billion this year. This year’s investment is more than 8 percent higher than originally estimated.

■ Some $50 billion in applications are currently being processed by the Ministry of Planning and Investment (MoPI).

■ MoPI has turned its attention to the high-tech industries. For example, the biggest investor is Taiwan’s Foxconn, the world’s largest electronics outsourcer. Focxonn plans to invest $5 billion in projects throughout the country. Other would-be investors are Japan’s Sumitomo Corporation, and India’s Tata Steel.

■ From January - September 2007, $9.6 billion has been invested. Of that, more than $8 billion has been slated for new projects.

Corner of Nhon Trach Industrial Park III in Dong Nai. The province adjacent HCMC is home to 23 IPs attracting billions of US dollars in FDI

Source: Thanhnien News