Mr. Alex Hambly, Chief Investment Officer (CIO) and a member of the Investment Board of the VinaCapital Vietnam Opportunity Fund (VOF), told the Government Newspaper: “Although I have traveled extensively around the world, Vietnam has always held a special place in my heart. The changes that Vietnam has achieved are truly remarkable.“
Vietnam is now on the radar of global investors due to its very attractive prospects and advantages, according to Mr. Hambly.
The CIO and Investment Board member of VinaCapital Vietnam Opportunity Fund also said that in many surveys, Vietnam is consistently ranked as a top or preferred destination in Asia-Pacific for corporations considering investment expansion in the region. And for good reasons.
Vietnam has 18 free trade agreements with partners worldwide, boosting its growth. Illustrative image.
Specifically, Vietnam offers dynamic economic growth, business-friendly administrative reforms, low labor costs, and a very favorable demographic structure.
He added: “These factors, among others, are attracting stable FDI inflows from multinational corporations. They are keen to leverage Vietnam’s unique geographical location near key high-tech supply chains in Asia and its access to a range of markets through its 18 free trade agreements with partners worldwide, including the US.”
Additionally, with Vietnam’s stock market upgrade to emerging market status, the World Bank estimates that an additional $25 billion in new foreign capital will be invested in Vietnamese stocks by 2030.
“Very few countries are better positioned than Vietnam to maintain strong growth in the near future,” asserted Mr. Hambly.
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In six months, Xổ số Kiến thiết Thủ đô earned 330 billion VND, while a company in the same industry surpassed it by 16 times
International Organizations Are Optimistic About Vietnam’s Economy
Similar to Mr. Hambly’s assessment, economic reports from international organizations highly regard Vietnam’s growth potential.
The Asian Development Bank’s (ADB) Asian Development Outlook 2024 report forecasts Vietnam’s growth for 2024 and 2025 to remain unchanged at 6.0% and 6.2%, respectively.
The report also forecasts that Southeast Asia’s economy will grow by 4.6% this year, supported by steady improvements in domestic and external demand.
ADB stated that growth in developing Asia and the Pacific is expected to reach 5.0% this year, higher than the previous forecast of 4.9%.
ADB maintains its 4.9% growth forecast for the Asian region in 2025.
In 2024, Vietnam’s economy is expected to grow the fastest in ASEAN.
The ASEAN+3 Macroeconomic Research Office (AMRO) has revised up its growth forecast for Vietnam to 6.3% in 2024 in its latest update released on July 16.
This rate is 0.3 percentage points higher than the 6.0% projection made in April and is the highest among ASEAN countries for 2024.
The Singapore-based organization maintains its GDP growth forecast for Vietnam in 2025 at 6.5%.
AMRO Chief Economist Hoe Ee Khor’s report noted that while Vietnam was severely affected by weak external demand last year, it is expected to benefit from a shift in external demand this year.
“This will be a year of very strong growth for Vietnam. The country is one of the most open economies and benefits greatly from trade,” he said.
In its latest forecast for the country’s GDP growth, the Ministry of Planning and Investment estimates that Vietnam’s economy could exceed the projected growth rate of 7.0% this year.
In one scenario, growth could reach 6.5%, in line with the National Assembly’s target. In a more optimistic scenario, growth could reach 7.0%, with a higher pace in the last two quarters of the year.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
Vietnam’s Irresistible ‘Specialty’ That China Desperately Wants to Revive: Highly Popular from the US to Asia, Bringing in Millions of Dollars
Vietnam is one of the largest exporting countries in the world, along with China and the Philippines.
