Better quality: Employees in action at the Heesung Electronics factory in Hai Phong. An enhancement in the complexity of made in Vietnam products is attracting interest from major companies like Samsung and Apple. — AFP
HO CHI MINH CITY: Green energy, semiconductors, healthcare and high-tech are among the sectors in which Vietnam attracts the most interest from foreign investors, according to VinaCapital Group.
Don Lam, its chief executive and founding partner, highlighted these sectors at a press conference held on the sidelines of the 2023 Investor Conference in Ho Chi Minh City.
He noted that the recent elevation of United States-Vietnam relations to a Comprehensive Strategic Partnership has brought many US semiconductor companies to Vietnam to explore the market.
Furthermore, VinaCapital recently hosted a delegation of 30 Taiwanese firms, showcasing the growing interest in investment opportunities in the Vietnamese market.
Andy Ho, VinaCapital’s chief investment officer, emphasised that foreign direct investment (FDI) in Vietnam is expected to surge to an estimated US$20bil to US$25bil this year.
He downplayed concerns about the global corporate minimum tax affecting FDI inflows, stating that tax incentives are not the primary attraction for establishing operations in Vietnam.
The Vietnamese gross domestic product is projected to grow at 4.7% this year and accelerate to 6.5% in 2024.
Ho also highlighted factors supporting Vietnam’s long-term growth, including a positive demographic structure, an expanding middle class and an enhancement in the complexity of “Made in Vietnam” products, attracting investment from major companies such as Samsung, Apple and Intel.
Regarding the outlook of the Vietnamese securities market, Nguyen Hoai Thu, managing director and head of investment at VinaCapital, noted that Vietnam’s stock market currently offered attractive valuations compared to its regional counterparts.
She predicted that earnings of listed companies, which hit a low in the fourth quarter of the previous year, would gradually recover and are expected to average 25% in 2024.
The 2023 Investor Conference has drawn over 150 guests from around the world, managing assets exceeding US$1 trillion.
The event, spanning two days, coincided with VinaCapital’s 20th anniversary and featured a diverse array of speakers representing various industries and sectors.
The strong turnout indicated Vietnam’s enduring appeal for investment opportunities, and the conference aimed to shed light on the exciting prospects in the market today. — Viet Nam News/ANN
