The forecast was made by leading economists and business professionals during an online discussion recently held by the newspaper Bizlive.

Vietnam Association of Foreign Invested Enterprises (VAFIE) President Nguyen Mai said that global economic recovery is on the mend and successful businesses are scurrying to find lucrative investments.

Universally they consider Vietnam among the top investment destinations in the globe largely attributable to its young hardworking population (100 million), and solid economic growth rate.

Korea Trade-Investment Promotion Agency (KOTRA) Deputy Director Park Chang Eun, said that multilateral groups focus on the nation’s ability to assimilate modern technologies.

They also consider the nation’s political stability and commitment to offer preferential policies on the origin of products as strong-points, he added.

During the talk, Nguyen Noi, deputy head of the Ministry of Planning and Investment’s Foreign Investment Department said that drastic measures to improve business environment will be undertaken.

Most notably are the simplification of customs formalities and streamlined procedures to establish businesses, he added.

According to statistics, many multinational groups from the US, Japan and Singapore have invested in Vietnam with a focus on processing industry, manufacturing, hotel and real estate.

Experts forecasts that, the enforcement of the Land Law after July 1 will allow foreigners and overseas Vietnamese to purchase homes in Vietnam.