Vietnam hopeful about post-COVID-19 investment wave

Vietnam is expecting to welcome a new wave of high quality foreign direct investment in the near future according to some economists thanks to the country’s internationally acclaimed efforts to fight COVID-19, a new factor to assess business risks.

Having worked in Vietnam for the past two decades, Adam Sitkoff, Executive Director of the American Chamber of Commerce in Hanoi, said that the country has never had such a golden opportunity to attract high-quality FDI investments from the US and other countries. Last year, with the US-China trade war, many enterprises looked at making Vietnam a key link in their supply chains. The trend became more significant when the COVID-19 outbreak happened and Vietnam emerged as a leading country in pandemic prevention and control.  

Sharing Sitkoff’s view, domestic experts said this is a good chance to lure FDI to Vietnam. Economic giants like the US, Japan, and EU countries are now seeking a third country to shift their factories as the supply chain has been broken due to the unforeseen crisis. Vietnam has become a regional spotlight.

To lure more investment, experts said more efforts should be made in improvement of infrastructure, manpower, the business environment and policy renewal. The local business community is also being asked to enhance capacity development to be ready for new cooperation opportunities./.