Many foreign enterprises desire investment expansion in Vietnam

According to the Vietnamese Ministry of Industry and Trade, many delegations of foreign enterprises have recently visited to Vietnam to learn about investment environment.

Project of Samsung factory at Saigon High-Tech Park (SHTP) (Photo: HOANG HUNG)

Project of Samsung factory at Saigon High-Tech Park (SHTP) (Photo: HOANG HUNG)

The purpose of the trips were to expand investment in the country. 

Particularly, Samsung Vietnam Complex has just put forward a proposal to ministries, agencies and leaders of Bac Ninh province to create favorable conditions for its operation, especially facilitating investment expansion and procedures for Samsung Display Vietnam Company which contributed to Vietnam's economic growth. 

Currently, Samsung is the largest foreign investor of Vietnam with a total registered capital of over US$ 17 billion.

Similarly, investment partners of VinaCapital Group, which currently manage over US$ 3.3 billion of total assets, also desire to boost cooperation and investment in the Southeast Asian country in multifaceted fields, including LNG (Liquefied Natural Gas), technology, tourism, consumption and real estate.

In addition, U.S. wearable device maker Fitbit and Tile household electronic device manufacturer will move manufacturing plants from China to the neighboring countries, including Vietnam, to avoid import duties imposed by U.S President Donald Trump on products made in China. 

Japanese Sharp, Kyocera and other businesses are also planning to open factories in Vietnam. 

According to the experts, Vietnam jumped ten spots on global competitiveness ranking, which was considered as the country with the strongest score increase.
That’s why many foreign enterprises wished to invest and their expand investment in the country. 

However, Vietnam needs to make more efforts in the context that Thailand and China also have new policies to attract investment.

​ BY LAC PHONG- Translated by Huyen Huong

Other news