As a member of the ASEAN Economic Community by 2015, Vietnam has great prospects to attract foreign direct investment (FDI) from the Southeast Asian block, the Vietnam Economic News cited experts as saying.

According to the Ministry of Planning and Investment, ASEAN member countries currently have 2,431 FDI projects with total registered capital of 51.83 billion USD in Vietnam, accounting for 21.4 percent of total registered FDI in the country.

ASEAN projects have an average capital of 21.3 million USD compared with 14.45 million USD worth of average capital for FDI projects in Vietnam.

So far ASEAN has invested in 18 out of all 21 economic sectors in Vietnam focusing on processing, manufacturing, real estate and construction.

Of these, the processing and manufacturing sector has led with 950 projects and total registered capital of 20.07 billion USD, accounting for 39.08 percent of total projects and 38.71 percent of total investment capital.

It has been followed by real estate with 92 projects and 16.48 billion USD, accounting for 3.78 percent of total projects and 31.81 percent of total registered capital; and construction 166 projects, 3.03 billion USD, 6.8 percent and 5.85 percent, respectively.

Investors from ASEAN member nations are present in 55 out of the country’s 63 provinces and cities by September.

Three top destinations in terms of ASEAN investment include Ho Chi Minh City, attracting 13.2 billion USD and accounting for 25.46 percent of total investment capital, Hanoi 8.53 billion USD and 16.47 percent, and Ba Ria-Vung Tau 6.16 billion USD and 11.89 percent, respectively.

Vietnamese businesses have invested in nine countries in ASEAN through 515 projects and total registered capital of 9.67 billion USD. Of these, Laos, Cambodia and Malaysia have attracted them the most.

Vietnam has great prospects to attract FDI from ASEAN in the near future since it has not only actively implemented ASEAN’s general commitments but has also boosted bilateral cooperation in many areas. Trade and investment relations between Vietnam and ASEAN are developing rapidly.

When compared with other countries in the region, Vietnam has advantages including a wealth of natural resources, a young labour force, the large consumer market and the stable political system which have been appreciated by foreign investors.-VNA