Foreign press assesses Vietnam as a rising star in global investment

According to statistics from the Department of Foreign Information, Ministry of Information and Communications, in January 2024, there were 470 news and articles from foreign news agencies and newspapers about Vietnam's socio-economy.

Foreign press positively evaluates Vietnam's economy. Illustration photo: Hai Nguyen

In January 2024, foreign public opinion generally still published many positive news and articles reflecting the socio-economic development situation of Vietnam. Positive information about Vietnam's socio-economic situation in the month focused on the following contents: Vietnam is assessed to have the ability to "leap forward"; Vietnam is the safest country in Asia; Vietnam is a "rising star" in terms of investment globally... In addition, Vietnam is strategically positioned for the upcoming increase in investment in semiconductors and foreign funds are likely to return to Vietnam in 2024. According to international media agencies, the results of the Business Confidence Index (BCI) survey by the European Chamber of Commerce in Vietnam - EuroCham assessed that Vietnam is a "rising star" in terms of investment globally, while "highlighting Vietnam's strategic position" in the Southeast Asian region. According to EuroCham, in Q4/2023, Vietnam's position as an "investment hotspot" has "increased significantly". About 62% of respondents "ranked Vietnam as one of the top 10 global investment destinations". Although only a small portion (2%) considered Vietnam an "industry leader", it is noteworthy that 29% ranked Vietnam among the "top competitive countries" in ASEAN. The majority (45%) considered Vietnam a competitor, although they acknowledged certain challenges. The CEBR Consulting Center (UK) assessed that Vietnam and the Philippines are two Southeast Asian economies with the potential to "leap forward" in the World Economic League Table (WELT) rankings for the period up to 2038. According to the Global Law and Order rankings published by management consulting firm Gallup in 2023, Vietnam is considered the safest country in Asia. Vietnam scored 92/100, ranking first in Asia and seventh globally. Vietnam is considered a safe country for tourists, perhaps due to its relatively low crime rate compared to other Southeast Asian countries. Vietnam climbed to 41st place out of 163 countries and territories in the Global Peace Index 2023, up four places from 2022. According to the Borneo Bulletin, Vietnam is strategically positioning itself for the upcoming surge in semiconductor investment by actively building strong and soft infrastructure, implementing policy mechanisms, investing in research and development, building strategies, and training a skilled workforce. Vietnam has outlined clear, specific directions and action plans to promote the development of the semiconductor industry. As a country that fosters a vibrant innovation ecosystem, Vietnam’s rapid progress in the digital economy and its remarkable growth in the high-tech sector have attracted the attention of many global corporations, enticing them to invest in the booming semiconductor industry. According to The Star, foreign funds are likely to return to Vietnam in 2024. Foreign capital inflows show increased investor interest in the Vietnamese market amid a weakening US dollar. In addition, the opportunity for Vietnam’s stock market to grow in 2024 will be a factor attracting foreign money. In the medium term, investment flows into the Vietnamese market may benefit from capital shifting to emerging markets. However, this may only happen after the Fed starts cutting interest rates.

Khanh An - Laodong.vn

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