Forty -four per cent of foreign firms in Vietnam plan to increase their investment in the country over the next 12 months. (Photo courtesy of Samsung) Hanoi (VNS/VNA) - A surveyof business leaders in the Asia Pacific region has revealed Vietnam is a topdestination for cross-border investment.
More than 1,000 leaders were questioned by PwC as part of their survey “Doingbusiness across borders in Asia Pacific 2019-2020”.
Results have revealed companies in Vietnam are confident revenue will hit afive-year high, with almost half saying they are “very confident”.
The survey showed businesses here are more optimistic than their Asia PacificEconomic Cooperation (APEC) counterparts, as only 34 percent of businesseselsewhere are confident of reaching such highs.
Four out of five business leaders in Vietnam told the survey they are planningto increase budgets in automation and workforce skills, while 80 percent stronglybelieve technology advancement is key to success.
Dinh Thi Quynh Van, PwC Vietnam General Director, said: “Amid anticipatedpressure from increased challenges to cross border activities, Vietnam isholding on to its momentum for continuous growth with business leaders’confidence boosted with uplifted optimism, and the economy continues to attractinvestments not only from overseas but also from its expanding domestic force.”
The survey quizzed business leaders from 21 APEC economies, which collectivelyaccount for half of world trade and more than half of global GDP.
Of those already doing business in Vietnam, 44 percent say they plan toincrease investment in the country over the next 12 months.
But the survey reveals there is still room for improvement.
Of those questioned, 23 percent of Vietnamese leaders say they struggle torecruit staff with the right skillset to accommodate automation and only 5 percent,compared to 12 percent APEC-wide, say they are creating more jobs withautomation.
Bob Moritz, PwC’s global chairman, said: “Business leaders don’t often call formore regulation, but companies are acutely aware of the risk that disconnectedor ineffective policies in areas such as AI, cybersecurity and privacyprotection can have on their plans for investment and the trust that consumershave in business.”
Also in the survey, 62 percent of Vietnam’s respondents expect to increasetheir domestic investment in the next 12 months, higher than other economiessuch as China, Japan and Singapore.
Foreign direct investment (FDI) in Vietnam inched up by 3 percent during thefirst 11 months of the year to 31.8 billion USD, according to data from theForeign Investment Agency (FIA)./.
VNA
