Vietnam in opportune position to ride fourth investment wave
VOV.VN - Vietnam boasts huge potential to welcome the fourth wave of foreign direct investment (FDI), mainly into high-tech fields such as electronics, semiconductors, artificial intelligence (AI) and renewable energy, heard a workshop held on March 26 in Hanoi.
Dr. Vo Tri Thanh, director of the Institute for Brand and Competitiveness Strategy, emphasised that the country has faced many hurdles in achieving the growth targets of 6.5% in the 2021 - 2025 period. However, he said the Vietnamese economy is currently entering a turning point of digital transformation and is therefore likely to record remarkable achievements thanks its continued efforts in making radical reforms and fine-tuning the legal system.
Experts noted that the country needs to reform the financial market and attract greater FDI capital flows into high-tech industries such as electronics, semiconductors, and renewable energy as it strives to promote greater economic transition to highly added value industries, thereby serving to accelerate long-term economic growth.
Dao Thien Huong, EY-Parthenon Partner, Strategy and Transactions, EY Consulting Vietnam, said the Vietnamese digital economy is developing strongly with a specific focus on e-commerce development, leading to high demand for logistics activities moving forward.
Amid a general decline occurring in FDI due to the current global economic downturn, FDI inflows into Vietnam increased by 32%, with total registered capital reaching more than US$36 billion last year, she noted.
