Vietnam ranks eighth among the best countries for investment, according to a recent report by the US News and World Report (Photo: VNA) Hanoi (VNS/VNA) - Vietnam has climbed in the ranking of bestcountries in which to invest this year, surpassing other Southeast Asiannations, such as Malaysia, Singapore and Indonesia.
A recentreport by the US News and World Report ranked Vietnam eighth out of 29economies, up from 23 last year. Meanwhile, some neighbouring nations –Malaysia, Singapore and Indonesia – stood in thirteenth, fourteenth andeighteenth positions, respectively.
Accordingto the report, Doi moi (renewal) economic policy reforms beginningin 1986 have helped Vietnam transition to becoming a more modern,competitive nation.
Vietnam’scontinued efforts to lessen international isolation are shown by joining of theWorld Trade Organisation (WTO) in 2007 and participation in free trade negotiationswith the Trans-Pacific Partnership in 2010.
It isalso a member of the United Nations, the ASEAN Regional Forum and theAsia-Pacific Economic Cooperation Forum, among other internationalorganisations, the report stated.
US News& World Report is an American media company that publishes news,analysis, consumer advice and rankings. More than 20,000 people fromacross the globe participated in this study.
Theranking of the best countries to invest in draws from the results of a globalperceptions-based survey and ranks countries based on the highest scores amongnearly 7,000 business decision makers on a compilation of eight equallyweighted country attributes including corruption, dynamics, economic stability,entrepreneurial, favourable tax environment, innovation, skilled labour forceand technological expertise.
In thisyear’s top five, Uruguay came in first place, followed by Saudi Arabia,Luxembourg, India and Poland.
From thebeginning of this year to August, Vietnam lured a total of 22.63 billion USD worthof foreign direct investment (FDI) according to the Foreign Investment Agencyunder the Ministry of Planning and Investment.
As ofAugust, the nation was home to more than 29,530 valid foreign-invested projects,with capital totalling 353.7 billion USD. The Republic of Korea was Vietnam’slargest investor with 64.87 billion USD, followed by Japan (58.23 billion USD),Singapore (49.62 billion USD), Taiwan (31.89 billion USD) and Hong Kong (21.64billion USD)./.
VNA
