The strong flow of foreign direct investment (FDI) into Vietnam will continue in the 2015-2020 period as multinational groups are lining up to partner with the nation on a host of projects, radio The Voice of Vietnam (VOV) reported on March 6.

The forecast was made by leading economists and business professionals during a recent online discussion by the newspaper Bizlive.

Vietnam Association of Foreign Invested Enterprises (VAFIE) President Nguyen Mai said that the global economic is recovering and successful businesses are scurrying to find lucrative investments.

Vietnam is rated among the top investment destinations in the globe, largely thanks to its young, hardworking and large population, and solid economic growth rate, experts said.

Korea Trade-Investment Promotion Agency (KOTRA) Deputy Director Park Chang Eun said that multilateral groups focus on Vietnam’s ability to assimilate modern technologies.

Besides, the country’s political stability and commitment to offer preferential policies on the origin of products are strong points, he added.

During the function, Nguyen Noi, Deputy head of the Foreign Investment Department under the Ministry of Planning and Investment, said that drastic measures to improve business environment will be undertaken.

Most notably are the simplification of customs formalities and streamlined procedures to establish businesses, he added.

According to statistics, many multinational groups from the US, Japan and Singapore have invested in Vietnam with a focus on processing industry, manufacturing, hotel and real estate.

Experts also noted that the amended Land Law will come into force as of July 1, allowing foreigners and overseas Vietnamese to purchase homes in Vietnam.