(Photo: VNA)

The Banker of the UK on April 28 ran an article by Peter Janssen which says Vietnam weathered the Covid-19 pandemic better than most south-east Asian economies and is expected to remain a magnet for FDI.

According to a 2019 poll conducted by the Japan External Trade Organization, around 40% of the Japanese firms looking to shift their overseas production cited Vietnam as their preferred choice. Even Chinese companies, especially those in the supply chain clusters for the electronics sector, have been shifting their production to Vietnam, says the article.

It says the government managed to keep the economy ticking over without resorting to massive relief programs that would have raised public debt.

The  Fibre2fashion of the US says European business leaders continue to view Vietnam as an attractive destination for foreign direct investment (FDI). Vietnam was ranked as one of the top investment destinations globally by 36 per cent of the respondents, either as their first choice, within their top three, or among their top five, said the website.

According to the survey findings, the European business and investment community seems to be satisfied with the level of attention policymakers have devoted to business needs in Vietnam. About one-third of the participants expressed notable or moderate contentment, which is a validation of the government’s continuous dedication towards creating a conducive business atmosphere in the country.

Bloomberg said FDI into Vietnam remains relative high with nearly 28 billion USD reported in2022.

Assessing medium-term prospects of Vietnam's economy in the next 5 years, the credit rating agency S&P Global Ratings said that many positive growth drivers are creating "favorable winds" and FDI will continue to be the pillar for the rapid growth of Vietnam's economy. This is expected to promote strong growth in total GDP as well as GDP per capita of Vietnam.