Vietnam - an investment destination

Speaking on the sidelines of a recent seminar, 'Doing Business in Vietnam', held in Singapore, Dr Admad stated that Vietnam's laws on business activities have been much improved in recent years.

There is a very large potential market and with the establishment of the ASEAN economic region by 2015 there will be further good opportunities coming up for investors, he said.

Meanwhile, Investment Promotion Manager of Sembcorp Parks Management Pte Ltd, Daniel Pok, affirmed that Vietnam is the next destination for investment. Sembcorp is one of the largest Singaporean investors in Vietnam with five Vietnam - Singapore Industrial Parks (VSIP) located in Bac Ninh, Hai Phong, Quang Ngai and Binh Duong provinces.

Currently Singapore ranks second among over 100 countries and territories investing in Vietnam with total foreign direct investment (FDI) amounting to US$29.3 billion.

Vietnam is increasingly considered the 'promised land' for investors around the world. So far, the country has attracted a total of more than US$200 billion in FDI. In 2013, it lured US$21.6 billion in FDI, up 54.5% over the previous year.

(Source: Nhandan Newspaper Online)