Vietnam remains attractive to int'l investors: HSBC

Up to 21 percent of Indian firms operating or intending to operate in Southeast Asia plan to expand their business in Vietnam in the next two years, and the ratio is 26 percent among Chinese enterprises, according to a HSBC survey covering more than 1,500 companies from six of the world’s largest economies – all of which have operations in Southeast Asia.

Regarding advantages of Vietnam, three out of 10 surveyed companies pointed to skilled workforce, while 27 percent cited competitive wage prices and proven economic resilience in response to the pandemic.

Currently, 39 percent of Indian companies stated they were attracted by Vietnam’s infrastructure, while 39 percent of US firms said that they are keen on opportunities to develop and test new products/solutions in the market.

Particularly, 49 percent of surveyed firms, mostly from China, India and the US, said that they hope to make use of the EU-Vietnam Free Trade Agreement to strengthen and support their trade activities in the region.

Tims Evans, HSBC General Director in Vietnam said that Vietnam is an example of successful COVID-19 control. The country is rising as a global production hub thanks to the incentives given by the Government, especially in the signing of free trade agreements./.