Vietnam emerges as attractive investment destination for 140 nations

The Voice of Vietnam quoted the information of the Ministry of Planning and Investment (MPI).
 

MPI Deputy Minister Nguyen Thi Bich Ngoc says despite the impact of the COVID-19 pandemic Vietnam has successfully fulfilled its dual goal of epidemic prevention and economic recovery. It was one of the few countries in the world last year recording positive GDP growth, at 2.91%, while many others suffered from contraction.

The country's macroeconomic situation last year and during the opening four months of this year remains stable, said Ngoc, noting its GDP growth is likely to reach approximately 6.7% this year.

Although global FDI has yet to show signs of recovery, the country's FDI attraction can be viewed as relatively positive, with the total newly and additionally registered capital, capital contribution, and share purchases reaching US$12.25 billion in four months. Notably, the newly registered capital presented an increase of 24.7% compared to the same period from last year.

The latest report by the General Statistics Office (GSO) shows Vietnam is currently considered a "safe land" for high-quality FDI inflows. A number of large international corporations and businesses are keen to seek investment opportunities locally as they strive to diversify the supply chain and limit their reliance on the Chinese market.

Vietnam has become one of the safest destinations in which to welcome capital flow thanks to its COVID-19 containment efforts and continued macro-economic stability, says the GSO in its analysis. 

Most notably, foreign investors are highly appreciative of the nation's socio-political stability, a point which is widely considered to be one of the key factors in implementing economic development policies and strengthening investors' confidence  in the local investment climate.

In addition, Vietnam has established a working group aimed at promoting foreign investment whilst supporting multinational corporations and foreign enterprises to seize upon some of the investment opportunities which exist within the nation.

A series of revised laws related to investment and business have been approved towards simplifying investment procedures, diversifying investment forms, and offering investment incentives to large-scale projects.

At present, Vietnam has joined a number of new-generation FTAs, including the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the EU-Vietnam Free Trade Agreement (EVFTA).

These trade deals have brought about plenty of advantages in terms of gaining entry to a free market of 55 countries, including 15 countries who are part of the G20, thereby opening up huge opportunities for Vietnam to attract additional FDI in the coming years.

Vietnam listed among top 10 destinations for expats in 2021

Coming in 10th place out of 59 countries in the Expat Insider 2021 survey, Vietnam ranked first in both the Personal Finance and Cost of Living indices, according to the Nhan Dan newspaper.

With more than 12,000 respondents, it is one of the most extensive surveys about living and working abroad, sharing insight into expat life in 59 destinations.

The survey offers in-depth information on expats' satisfaction with the quality of life, ease of settling in, working life, personal finance, and the cost of living in their respective country of residence. Additionally, the respondents shared about how they have been experiencing the COVID-19 pandemic and how it has impacted their lives.
 

Vietnam also does well in the Working Abroad Index (9th), with the vast majority of expats (86%) expressing overall job satisfaction.

Vietnam is also highly appreciated for its beautiful beaches, delicious food and fascinating culture, making it a great place for anyone looking for new experiences.

According to the Expat Insider 2021 survey, Taiwan (China), Mexico, Costa Rica, Malaysia, Portugal, New Zealand, Australia, Ecuador and Canada are also on the list of the best destinations for expats worldwide: all of them attract expats with their ease of settling in and good personal finances.

Activity to mark Uncle Ho's 131st birthday held in Nghe An province

Organisations and people from all walks of life in the central province of Nghe An have offered flowers and incense to President Ho Chi Minh at Kim Lien special national relic site in the leader's home village on the occasion of the beloved national leader's 131st birthday.

Among them were delegations from the provincial Party Committee, People's Council, People's Committee, and Fatherland Front committee.

The delegates expressed their immense gratitude towards the late leader, who dedicated his whole life for the national liberation cause, and the struggle for the country's peace and happiness.

They pledged to study and follow President Ho Chi Minh's ideology, morality and lifestyle, as well as strive to successfully carry out the resolutions adopted at the 19th provincial party congress and the 13th National Party Congress.

President Ho Chi Minh led the country to success in its struggle for national independence. On September 2, 1945, he read the Declaration of Independence, proclaiming to the world the foundation of the Democratic Republic of Vietnam, now the Socialist Republic of Vietnam.

(Source: CPV)