Vietnam to be leading market for American investors: Amcham survey
Vietnam is topping among ASEAN member nations in attracting investment from American firms, according to the 2017 ASEAN Business Outlook Survey recently issued by the US Chamber of Commerce and the American Chamber of Commerce in Singapore (Amcham Singapore).
Under the survey, US companies remain a steady sense of optimism about the growth prospects and commercial opportunities in ASEAN.
More than half of respondents reported that ASEAN markets have become more important for their companies’ worldwide revenue over the past two years, and 78 percent of executives projected profit increases in 2017.
Particularly, US businesses said Vietnam is topping among ASEAN member states in attracting investment from American companies who intend to diversify their investments or businesses over the next two years from China into ASEAN.
According to US firms, Vietnam owns many potentials of low cost labour, and a stable political and legal system, and the country can ensure issues related to personnel security.
Most of all managers reckoned that Vietnam's business climate has been remarkably improved. However, they also noted that Vietnam needs to make greater effort to combat corruption in the time ahead.
About 50 percent of surveyed US enterprises said the formation of the ASEAN Economic Community will bring positive effects for American firms’ investment and business in Vietnam. While more than half of respondents said that the Trans-Pacific Partnership (TPP) will impact on their investment plan in Vietnam and ASEAN in general.
Agreements likes TPP can help lay the foundation for a modern and high-standard free trade area in the Asian-Pacific region, they added.
The 2017 edition marks the fifteenth year of the survey and the fourth year in which that data has been collected from all ten ASEAN member countries.
The US Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. It works closely with 117 American Chambers of Commerce abroad.
More than half of respondents reported that ASEAN markets have become more important for their companies’ worldwide revenue over the past two years, and 78 percent of executives projected profit increases in 2017.
Particularly, US businesses said Vietnam is topping among ASEAN member states in attracting investment from American companies who intend to diversify their investments or businesses over the next two years from China into ASEAN.
Photo for illustration
|
Most of all managers reckoned that Vietnam's business climate has been remarkably improved. However, they also noted that Vietnam needs to make greater effort to combat corruption in the time ahead.
About 50 percent of surveyed US enterprises said the formation of the ASEAN Economic Community will bring positive effects for American firms’ investment and business in Vietnam. While more than half of respondents said that the Trans-Pacific Partnership (TPP) will impact on their investment plan in Vietnam and ASEAN in general.
Agreements likes TPP can help lay the foundation for a modern and high-standard free trade area in the Asian-Pacific region, they added.
The 2017 edition marks the fifteenth year of the survey and the fourth year in which that data has been collected from all ten ASEAN member countries.
The US Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. It works closely with 117 American Chambers of Commerce abroad.
14:43, 2024/11/18
Aircraft manufacturer Embraer seeks comprehensive aviation partnership with Vietnam
The Vietnamese leader urges the aircraft manufacturer to collaborate on technology transfer, airport construction and operation, research, and investment in Vietnam.
21:55, 2024/10/22
Better links with FDI firms to support Hanoi businesses
Hanoi will continue to focus on quality projects, especially with partners such as Japan, the United States, and Europe to boost technology transfer.
15:24, 2024/09/24
Vietnam calls for more US investment in innovation, hi-tech
The Vietnamese leader called on relevant agencies to resolve any challenges faced by investors and enhance the investment climate to encourage greater US investment in Vietnam.
14:13, 2024/09/23
Vietnamese leader urges Boeing to build production facility in Vietnam
Boeing is committed to continuing to support the development of Vietnam's aviation ecosystem, focusing on aviation infrastructure, human resources training, airport construction, and aircraft maintenance facilities.
14:38, 2024/09/17
Foreign capital pouring into Vietnam's real estate market
Experts are optimistic that the 2024 Land Law, once enacted, will help resolve legal bottlenecks and attract more FDI.
16:27, 2024/08/24
Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years